Precision Dermatology, a US-based skin treatment company backed by Novaquest, the former corporate venturing unit of US-based healthcare provider Quintiles Transnational, has bought dermatology product company Triax Pharmaceuticals.
A group of investors led by Novaquest and venture firms Essex Woodlands, MidCap Financial, provided funds to help Precision’s buy of Triax. The syndicate also included venture firms Frazier Healthcare and Boston Millennia Partners.
William Robb, a partner at NovaQuest, is joining PreCision’s board.