Brickell Biotech, a US-based developer of drug therapies for skin diseases that counts cosmetics manufacturer AmorePacific among its investors, has raised $10m in its series C round.
The round was led by Charlie Stiefel, Brickell’s chairman, while existing investors, management and other undisclosed backers also took part.
Brickell previously received $7m in 2013 in a series B round led by AmorePacific Ventures, the corporate venturing subsidiary of AmorePacific. The round also featured venture capital firm Palisade Capital Management’s Concentrated Equity Partnership II fund.
Brickell had already secured $6.2m from 13 undisclosed investors in a 2010 series A round, according to regulatory filings.
In the past two months Brickell has advanced candidates for two different skin diseases into a Phase 2b clinical trial and a Phase 1 trial respectively. It is also seeking continued development of a treatment for a third disorder, mild atopic dermatitis.
Charlie Stiefel, chairman of Brickell, said: “There is a significant need for new therapeutics in the field of dermatology and this financing will help us to meet that demand.”