ARCH Venture Partners led a $34 million Series A financing in Sienna Biopharmaceuticals, Inc., which is pursuing new technologies in medical aesthetics and dermatology. Altitude Life Science Venture Partners, Partner Fund Management, and Venvest Capital also invested in the development stage company.
Sienna Biopharmaceuticals, Inc., a development stage company focused on aesthetics and medical dermatology, today announced that it completed a $34 million Series A financing led by ARCH Venture Partners. Additional investors included Altitude Life Science Ventures, Partner Fund Management, and Venvest Capital, as well as direct investment by several prominent aesthetics and medical dermatology industry luminaries. Sienna Biopharmaceuticals’ mission is to bring to market innovative new products that have the potential to improve patient outcomes and advance the practice of medicine in aesthetics and medical dermatology. The Company brings together the proven leadership and executive team from Kythera Biopharmaceuticals, Inc. (“Kythera”), recently acquired by Allergan, and the backing of several investors who supported the growth and success of Kythera. Leading the Company is Frederick C. Beddingfield III, M.D., Ph.D., as President and CEO, and Keith Leonard, as Executive Chairman.
Sienna Biopharmaceuticals’ lead proprietary technology, Silver Plasmonic Therapy (SPT), has promising applications for acne and permanent hair removal. Clinical trials are already underway and the Company is evaluating additional potential indications.
“We are pleased with the opportunity to partner with high-quality investors who share our vision of bringing innovative new products to market in aesthetics and medical dermatology,” said Frederick C. Beddingfield III, M.D., Ph.D., President and CEO of Sienna Biopharmaceuticals. “With this proven team and financing, we have a strong foundation from which we can advance our SPT technology and further our efforts in building a pipeline of early- to late-stage novel assets. All the pieces are in place to create the next great company in aesthetics and medical dermatology.”
Experienced Management Team
Sienna Biopharmaceuticals’ executive team comprises experienced industry executives with demonstrated success in aesthetics and medical dermatology having helped develop or commercialize leading global brands such as KYBELLA®, BOTOX®, DYSPORT®, JUVEDERM®, VOLUMA®, RESTYLANE®, LATISSE®, SOLODYN®, and ACZONE®. Combined, the team has worked on over 75 aesthetic and medical dermatology products; been responsible for more than 100 international regulatory filings and approvals; participated in 6 U.S. FDA Advisory Committee meetings, including a recent 17-0 unanimous vote for and subsequent approval of KYBELLA®; and helped achieve 17 U.S. FDA approvals plus more than 35 FDA device clearances. For a full review of the management team please see www.siennabio.com.
“Given the current changing corporate landscape and disruption in the dermatology space, we believe the timing is right for a company focused on innovation in aesthetics and medical dermatology. Sienna Biopharmaceuticals combines a world class team with proven abilities in R&D and commercialization and strong financial backing,” said Keith Leonard, Executive Chairman of Sienna Biopharmaceuticals and previously the CEO of Kythera.
Board of Directors
The Sienna Biopharmaceuticals’ Board of Directors bring together biopharmaceutical industry leaders with extensive experience in aesthetics and dermatology, finance and business formation and growth. The members of the Sienna Board of Directors are:
Keith R. Leonard, Jr. – Executive Chairman, Sienna – click for bio
Frederick C. Beddingfield, III, M.D., Ph.D. – President and CEO, Sienna– click for bio
Kristina Burow – Managing Director, ARCH Venture Partners – click for bio
Todd Harris, Ph.D. – Head of Corporate Development, Sienna– click for bio
Bob Moore, MBA – Chairman, One Revolution – click for bio
Robert Nelsen – Managing Director, ARCH Venture Partners – click for bio
Silver Plasmonic Therapy (SPT) Technology
The Company is developing novel approaches to treat skin based on the science of plasmonic resonance, originally developed at Sienna Labs, Inc. under the leadership of Todd Harris, Ph.D. SPT entails using a proprietary topical solution containing patented plasmonic particles which interact with the light emitted by existing medical laser systems allowing controlled targeting of microstructures in the skin. The Company believes the treatment has the potential to meet unmet needs in the areas of acne, hair removal, and potentially other indications.
About Sienna Biopharmaceuticals
Sienna Biopharmaceuticals is a development stage company focused on the discovery, clinical development and commercialization of innovative aesthetics and medical dermatology products based on scientific breakthroughs. Sienna Biopharmaceuticals’ management comprises executives with extensive experience and demonstrated success in taking new scientific ideas from discovery to commercialization, including many of the most successful global brands in aesthetics and medical dermatology. Find more information at www.siennabio.com.
About ARCH Venture Partners
ARCH Venture Partners, one of the largest early stage technology venture firms in the U.S., invests in seed and early stage advanced technology companies. ARCH enjoys special recognition as a leader in the commercialization of technologies developed at academic institutions, corporate research labs and national laboratories. ARCH has earned a reputation as one of the leading venture firms in early stage biotechnology, advanced materials, alternative energy, and specialty semiconductors, and is known for identifying and capitalizing early on fundamental trends in disruptive technology. Now in its 30th year, ARCH has over $2 billion in committed capital through eight venture funds, and has co-founded and provided initial investments for over 200 companies.