Scioderm to help EB patients with proceeds of Series A financing worth $16m

A company developing novel dermatology therapeutics Scioderm said it had completed a Series A financing commitment totalling $16m.

The proceeds from the Series A investment are intended to be used by Scioderm to advance SD-101, a topical cream with a mechanism of action, into clinical development through registration for the treatment of the severe skin effects seen in patients across all EB subtypes.

EB, a rare genetic condition, which in all of its forms shares the prominent manifestation of extremely fragile skin that blisters or tears with the slightest friction or trauma.

Due to this manifestation, EB patients are referred known as ‘Butterfly children’ owing to the similar nature of the fragility of the skin to the wings of a butterfly.

There is said to be no cure or effective treatment for this condition.

The only choices available for caregivers of EB patients are wound care, pain management and preventative bandaging.

The more severe forms of this condition disease cause scarring, disfigurement, disability and early death, normally before the age of 30.

The Series A financing was led by Morgenthaler Ventures, as Technology Partners participated as the second investor in the round.

Scioderm chief executive officer and co-founder Robert Ryan said it was nice to to have Morgenthaler Ventures and Technology Partners as investors as the company continues the development of SD-101 in this serious medical condition.

"Treatment of the debilitating skin effects seen in EB patients is a significant unmet need, and we believe that SD-101 has the potential to change the course of treatment in this disease. In order to expedite the development program of SD-101, we are planning over the next few months to identify investigators and potential patients interested in participating in our upcoming clinical study, which we anticipate to begin in the fall of 2013."