Dermira, a Redwood City, Calif-based maker of medical dermatology products, has closed $51 million in Series C financing. The investors included Bay City Capital, New Enterprise Associates, Canaan Partners, UCB S.A., Apple Tree Partners, Aisling Capital, Rock Springs Capital and Sabby Capital. Leerink Partners was the placement agent for the financing. In addition to the funding, Dermira has named Andrew Guggenhime as chief operating officer and chief financial officer; Christine Conroy as senior vice president of regulatory affairs; and Christine Ring as vice president of legal. It has also appointed David E. Cohen, Matthew Fust, Mark McDade and William Ringo to its board of directors.
REDWOOD CITY, Calif., Aug 19, 2014 (BUSINESS WIRE) — Dermira, a specialty biopharmaceutical company focused on bringing innovative and differentiated medical dermatology products to dermatologists and their patients, today announced that it has completed a $51 million Series C financing. Existing investors Bay City Capital, New Enterprise Associates (NEA), Canaan Partners and UCB S.A. were joined by new investors Apple Tree Partners, Aisling Capital, Rock Springs Capital, Sabby Capital and other healthcare investors, in the transaction. Leerink Partners LLC acted as the exclusive placement agent for the financing. Fenwick & West LLP acted as legal advisor to Dermira.
Dermira also announced key executive appointments with Andrew Guggenhime as Chief Operating Officer and Chief Financial Officer, Christine Conroy as Senior Vice President, Regulatory Affairs and Christine Ring as Vice President, Legal. In addition, Dermira has expanded its board of directors with the appointments of Dr. David E. Cohen, Matthew Fust, Mark McDade and William Ringo.
Andrew Guggenhime, Chief Operating Officer and Chief Financial Officer, oversees Dermira’s financial, corporate development, human resources, legal, and other administrative functions. Prior to joining Dermira, Andrew served as Chief Financial Officer for CardioDx, where he remains on the board of directors, as well as other healthcare companies including Calistoga Pharmaceuticals and Facet Biotech.
Christine Conroy, Senior Vice President of Regulatory Affairs, is responsible for Dermira’s regulatory affairs strategy and function. Christine previously served as Senior Vice President of Regulatory Affairs and Quality Assurance at Affymax, where she held regulatory leadership positions for nine years. Prior to Affymax, Christine held regulatory positions at Genitope, Roche Global Development and Syntex.
Christine Ring, Vice President, Legal, is responsible for the Company’s legal activities. Prior to joining Dermira, Christine most recently served as Chief Intellectual Property Counsel and Senior Vice President, Technology Strategy & Licensing at Amyris. Prior to Amyris, Christine was the Director of Intellectual Property at Sunesis Pharmaceuticals and Senior Patent Attorney at Kosan Biosciences.
Board of Director Additions
Dr. David E. Cohen, M.D., M.P.H., previously served as a scientific advisor to the Company since its inception. David has held a variety of positions at the New York University School of Medicine, including as Chief of Allergy and Contact Dermatitis, Vice Chairman of Clinical Affairs, Director of Occupational and Environmental Dermatology, and the Charles C. and Dorothea E. Harris Professor of Dermatology.
Matthew Fust was most recently Executive Vice President and Chief Financial Officer at Onyx Pharmaceuticals. Matt also serves as a member of the board of directors of MacroGenics, Sunesis Pharmaceuticals and Ultragenyx Pharmaceutical.
Mark McDade currently serves as Executive Vice President, Established Brands, Solutions and Supply, at UCB S.A., which he joined in April 2008. Mark also serves as a member of the board of directors of Five Prime Therapeutics.
William Ringo serves as a senior advisor to Barclays Healthcare Group and as a strategic advisor to Sofinnova Ventures. Bill also serves as a member of the board of directors of Assembly Biosciences, Immune Design, Mirati Therapeutics and Sangamo Biosciences.
Dermira is a privately held specialty biopharmaceutical company focused on bringing innovative and differentiated medical dermatology products to dermatologists and their patients. Dermira’s portfolio of five product candidates targets significant market opportunities and includes three late-stage product candidates, Cimzia (certolizumab pegol), in development in collaboration with UCB Pharma S.A. for the treatment of moderate-to-severe plaque psoriasis, DRM04, a topical treatment for hyperhidrosis, and DRM01, a topical sebum inhibitor for the treatment of acne. Dermira is headquartered in Redwood City, California. For more information, please visit www.dermira.com.