23 August 2016 | News | By BioSpectrum Bureau
Vyome Biosciences Closes $14 Million Series C Financing
Vyome Biosciences, a clinical-stage specialty biopharmaceutical company developing novel medicines for treating skin diseases caused by resistant microbes announced today that it has closed $14 million Series C financing round. This financing round was led by Perceptive Advisors, a leading New York-based life sciences fund and, Romulus Capital, a Boston-based venture capital firm, along with participation from existing investors including Kalaari Capital, Sabre Partners and Aarin Capital.
"We are very excited to announce the closure of our Series C financing. The support from leading global and leading life investors and the continued support from our largest existing shareholders validates our Company's strategy, science and development programs. The Company will utilize these funds predominantly to advance the clinical development of its lead product, VB 1953 and will allow us to completion of important milestones of clinical results. In addition, the Company will continue to advance the development of other proprietary products pipeline in the preclinical stage", said Venkateswarlu Nelabhotla (N. Venkat), Co-Founder & CEO, Vyome Biosciences.
"Vyome is well positioned as a clinical stage company with a rich pipeline to becoming a leader in antimicrobial resistance and treatment of skin infections with the new funding round. This influx of funding also validates our hypothesis that innovation-driven R&D can attract top global investors", remarked Dr. Shiladitya Sengupta, Co-Founder of Vyome and an assistant professor of medicine at Harvard Medical School.
According to the American Academy of Dermatology, Acne represents the most common skin disease, affecting 85% of teenagers and affects 40-50 million people in the US. Approximately 40% of acne patients are suffering from antibiotic resistance. Physicians around the world have cited a large unmet need for new, improved topical therapy options, vis-Ã -vis the current available topical products. Vyome's VB 1953 targets this potential USD 2 Billion market of antibiotic resistant acne. VB 1953 had its IND (Investigational New Drug) application accepted by the US FDA recently, and the company will soon be initiating clinical studies in USA.
Apart from lead program VB 1953, Vyome also has a deep pipeline of preclinical New Chemical Entities (NCEs), unique in their ability to resist the development of resistance based on its patented Dual Action Rational Therapeutics (DARTs) technology. In addition, Vyome has clinically proven antifungal products based on its breakthrough technology platform Molecular Replacement Therapy (MRT), for which Vyome is currently pursuing commercialization discussions globally.