UK-based biotechnology company Ziarco Group raised $33.1m in series B funding on Monday with involvement from the corporate venturing units of drugs company Pfizer and biotech company Amgen.
Lundbeckfond Ventures, an investment subsidiary of Denmark-based pharmaceutical company Lundbeck, venture capital firm New Enterprise Associates and private equity firm BVF Partners joined Pfizer Venture Investments and Amgen Ventures in the round.
Ziarco is focused on developing treatments for inflammatory skin diseases. It raised $7.6m in a 2012 series A round backed by Pfizer and BVF, then known as Biotechnology Value Fund.
Mike Yeadon, president and chief executive at Ziarco, said of the round: “The proceeds will enable us to generate clinical Proof-of-Concept for both of our lead compounds and make progress in addressing the substantial unmet medical needs and dissatisfaction with the current care options for patients living with atopic dermatitis and psoriasis.”