logo
logo

Dermavant Announces $200 Million Of Financing

Dermavant Announces $200 Million Of Financing

06/07/21, 12:02 PM
Location
https://purecatamphetamine.github.io/country-flag-icons/3x2/US.svglong beach
Money raised
$200 million
Dermavant Sciences, a clinical-stage biopharmaceutical company dedicated to developing and commercializing innovative therapeutics in immuno-dermatology, today announced that the company has entered into a $160 million revenue interest purchase and sale agreement for its investigational product tapinarof with three participants that include Marathon Asset Management (Marathon), NovaQuest Capital Management (NovaQuest) and a third institutional investor located in Boston. The company concurrently entered into a $40 million senior secured credit facility with the Boston-based firm. Tapinarof is a novel, therapeutic aryl hydrocarbon receptor modulating agent, in development as a once-daily, steroid-free and cosmetically elegant topical cream being investigated for the treatment of plaque psoriasis and atopic dermatitis.

Company Info

Company
Dermavant
Location
long beach, california, united states
Additional Info
Dermavant Sciences, a subsidiary of Roivant Sciences, is a clinical-stage biopharmaceutical company dedicated to developing and commercializing innovative therapeutics in immuno-dermatology. Dermavant’s focus is to develop therapies that have the potential to address high unmet medical needs while driving greater efficiency in research and clinical development. The company’s robust medical dermatology pipeline includes both late-stage and earlier-stage-development product candidates the company believes could address important immuno-dermatological conditions, including psoriasis, atopic dermatitis, vitiligo, primary focal hyperhidrosis, and acne. Tapinarof is a novel, therapeutic aryl hydrocarbon receptor modulating agent, in development as a once-daily, steroid-free and cosmetically elegant topical cream for the treatment of plaque psoriasis and atopic dermatitis, which affect approximately 8 million and 26 million people in the United States, respectively. The company has reported positive Phase 3 results for tapinarof cream in adult patients with plaque psoriasis. For more information, please visit www.dermavant.com, and follow us on Twitter (@dermavant) and LinkedIn (Dermavant Sciences).