DermBiont Acquires Chromaderm

DermBiont has raised a $28 million Series A2 financing in parallel with the acquisition of clinical-stage biotechnology company Chromaderm. Chromaderm is developing a topical inhibitor of melanin production as a first-in-class therapy for skin brightening, melasma, and other skin diseases associated with increased melanin production. 

Jeni Lee, Principal at Pivotal Life Sciences, is now on DermBiont’s Board of Directors. In addition to Pivotal Life Sciences, the round also includes participation from Viking Global Investors, Olive Tree Capital, Toba Capital, Civilization Ventures, and other biotechnology investors.

Chromaderm’s drug candidate, ruboxistaurin (SM-030), is an inhibitor of PKC-beta, which Chromaderm’s co-founder Dr. Barbara Gilchrest demonstrated is required for melanin production. In a completed Phase 1 clinical trial under a US IND, a topical formulation of SM-030 was able to inhibit UV-induced melanin production. An oral formulation of ruboxistaurin has been evaluated in Phase 1, 2, and 3 clinical trials in unrelated indications and demonstrated an excellent safety profile. 

Emma Taylor, MD, who recently joined DermBiont as Chief Medical Officer, is a board-certified dermatologist, was most recently founder and CEO of Naked Biome, where she successfully advanced the company’s lead product through Phase 1 clinical trials and led the company through acquisition. “SM-030 has the potential to greatly improve patient’s treatment options for these common skin conditions,” Dr. Taylor says. “Based on the excellent safety profile of oral ruboxistaurin and the promising Phase 1 results with our topical formulation, we look forward to starting Phase 2 clinical trials early in 2022.”