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Dermira sets terms for $80 million IPO; biotech treats scaly, sweaty, acne-covered skin

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Dermira, a biotech targeting skin conditions such as psoriasis, excessive sweating and acne, announced terms for its IPO on Friday. The Redwood City, CA-based company plans to raise $80 million by offering 5.4 million shares at a price range of $14 to $16. At the midpoint of the proposed range, Dermira would command a fully diluted market value of $402 million.

Dermira has entered a collaboration agreement with Dutch pharmaceutical company UCB to develop its Cimzia drug for the treatment of moderate-to-severe plaque psoriasis. Cimzia is currently approved in the US for rheumatoid arthritis, psoriatic arthritis and Crohn's disease. Dermira expects to commence Phase 3 trials in the first half of 2015.

The company also has a topical small molecule treatment for hyperhidrosis, or excessive sweating, in Phase 2 trials and expects to enter Phase 3 by the 2H15. Dermira is also developing a small molecule sebum inhibitor for the treatment of acne, which has completed Phase 2a trials and expects Phase 2b to commence in the 1H15.

Primary shareholders include New Enterprise Associates, Bay City Capital, Canaan Partners, UCB S.A., Maruho Co., Apple Tree Partners and Fidelity.

Dermira is one of several biotech IPOs targeting psoriasis, including this past week's acne/psoriasis biotech Foamix Pharmaceuticals (FOMX), next week's Vitae Pharmaceuticals (VTAE) and recent filers Virobay (VBAY) and Forward Pharma (FWP).

Dermira, which was founded in 2010, plans to list on the NASDAQ under the symbol DERM. Citi and Leerink Partners are the joint bookrunners on the deal. It is expected to price during the week of September 29, 2014.

Investment Disclosure: The information and opinions expressed herein were prepared by Renaissance Capital's research analysts and do not constitute an offer to buy or sell any security. Renaissance Capital, the Renaissance IPO ETF (symbol: IPO) or the Global IPO Fund (symbol: IPOSX) , may have investments in securities of companies mentioned.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

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Dermira sets terms for $80 million IPO; biotech treats scaly, sweaty, acne-covered skin

Skylit Medical Announces Chairmanship of David F. Hale

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La Jolla, CA (PRWEB) September 16, 2014

Skylit Medical announces the formation of the corporation under the Chairmanship of David F. Hale. The company is dedicated to providing personal, private, UV therapy for patients with psoriasis, eczema and vitiligo. Their devices will be used in patient homes but can connect wirelessly to a dermatologist, clinic, managed care organization or telehealth platform.

Mr. Hale was previously a CEO of Hybritech, and has since led several successful startups as Chairman. These companies include Santarus, Inc., which was acquired by Salix in 2014 for $2.6 billion, Micromet, which was acquired by Amgen for $1.16 billion and Skinmedica, which was acquired by Allergan in 2012 for $350 million.

Skylit was founded by Martyn Gross, a psoriasis patient, and is headquartered at EvoNexus, a Commnexus Incubator, in La Jolla, California. Previously, the company graduated from StartR Accelerator at UCSD and is a member of the inaugural class of Founder.org.

The Executive Team represents extensive experience in the medical field. As CFO, Kathy Scotts credentials include completing billions of dollars in acquisitions, mergers, and restructurings with RA Capital Advisors. Remo Moomiaie, Ph.D., is Skylit's Chief Innovation Officer and co-founder, and has invented several medical devices after being trained as a surgeon at Yale School of Medicine. Andre Gamelin, Vice President of Research and Development, formerly at Masimo Corporation and Carefusion, has 24 years of experience engineering innovative electro-mechanical and electro-optical products, primarily in the medical device field.

Skylit Medicals vision includes providing access to clinical phototherapy for any patient who needs it. The company is developing an innovative UVB phototherapy device and service that includes safety and control mechanisms like no other treatment for psoriasis, vitiligo and eczema patients.

Mr. Gross founded the company as a patient with mild psoriasis who was disappointed with the treatments offered to him. The most effective therapy for me involved taking 4-5 hours out of my week to visit a phototherapy clinic for about one minute of treatment, Mr. Gross stated. My Health Savings Account was drained after a couple months, and I was stuck with topical steroids that didnt work or biologics that, for me, were too extreme. Thats why I created Skylit Medical. There are 44 million people in the US who can use this device at home with their family or watching TV rather than taking time off work to visit a clinic.

An integral component of the new device will be its ability to sync wirelessly with a care provider.

For more information or to request access to investor's materials, you can visit their website at https://SkylitMedical.com.

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Skylit Medical Announces Chairmanship of David F. Hale

Dendritic cells affect onset, progress of psoriasis

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Different types of dendritic cells in human skin have assorted functions in the early and more advanced stages of psoriasis report researchers in the journal EMBO Molecular Medicine. The scientists suggest that new strategies to regulate the composition of dendritic cells in psoriatic skin lesions might represent an approach for the future treatment of the disease.

"We urgently need new ways to treat psoriasis, treatments that will deliver improved benefits to patients and reduce the incidence of known side effects for existing drugs," says EMBO Member Maria Sibilia, a Professor at the Medical University of Vienna in Austria, and one of the lead authors of the study. "Our experiments have revealed that increases in the number of plasmacytoid dendritic cells are important early triggers of the disease while other types of dendritic cells, the Langerhans cells, help to protect the balance of the immune response that is established during inflammation of the skin."

Psoriasis is an autoimmune disease that affects around 125 million people worldwide. Symptoms, which include the formation of red inflamed lesions that appear on the skin, vary from mild to severe. The disease is often associated with other serious health conditions such as diabetes, heart disease and depression.

The researchers observed an increase in the accumulation of plasmacytoid dendritic cells in the psoriatic lesions of patients as well as in mice that are model organisms for the study of the disease. Plasmacytoid dendritic cells are a specific type of immune cell that can infiltrate damaged tissue during the early phase of psoriasis. In contrast, the levels of another type of dendritic cells known as Langerhans cells, were significantly decreased in the lesions compared to healthy skin in humans and mice. If the levels of plasmacytoid dendritic cells in mice were decreased during the early stages of the disease then the symptoms of psoriasis were quelled. A similar decrease in Langerhans cells at an early stage of the disease had no effect. If the levels of Langerhans cells were reduced at advanced stages of the disease, the symptoms of psoriasis were exacerbated.

"The changes in the severity of symptoms we have observed related to changes in the composition of dendritic cells most likely impact the balance of inflammatory mediators at the site of disease. It may well be that by inducing favourable compositions of dendritic cells at the early stages of psoriasis we may be able to help reduce the effects of psoriasis by achieving a better balance of these mediators at the site of the disease. Further work is needed before we can say with any certainty if such an approach will lead to a viable clinical treatment for psoriasis."

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The above story is based on materials provided by EMBO. Note: Materials may be edited for content and length.

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Dendritic cells affect onset, progress of psoriasis

Over The Counter Creams For Psoriasis – Caida Del Pelo Por Psoriasis – Video

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Over The Counter Creams For Psoriasis - Caida Del Pelo Por Psoriasis - Video


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