Denmark-based mucosal disease therapy developer Dermtreat has completed a $17.7m series A round that included pharmaceutical company Novo and Lundbeck.
Sofinnova Ventures led the round, which included undisclosed existing investors, while the corporates participated through their Novo Seeds and Lundbeckfonden Emerge subsidiaries respectively.
Founded in 2014, Dermtreat has created a bio-adhesive and bio-degradable patch called Rivelin to treat mucosal diseases. It will use the funding to advance the patch into phase 2 clinical tests for an auto-immune, inflammatory disease known as Oral Lichen Planus.
Additional capital will go to development of additional product candidates as the company looks to expand Rivelin into other therapeutic targets.
Novo Seeds partner Stephan Christgau and Christian Elling, managing partner at Lundbeckfonden Emerge, will join Demtreat’s board of directors along with Lars Ekman, an executive partner at Sofinnova Ventures, in conjunction with the round.