LEO Pharma and its Boston-based R&D innovation unit LEO Science & Tech Hub, and Advancing Innovation in Dermatology (AID) will each contribute $500,000 into the recently created Advancing Innovation in Dermatology Accelerator Fund. This non-profit fund is unique in its approach for supporting product innovation for dermatology. LEO and AID have a joint mission to accelerate early stage research and development projects with the potential to impact the lives of people living with skin conditions.
William Ju, MD, FAAD, President and a Co-founding Trustee of Advancing Innovation in Dermatology, Inc. said, “We are grateful for LEO Pharma’s generosity and partnership and are excited to build collaborations that will spark the translation of science and engineering innovations into products that meaningfully improve patient outcomes.”
“Our vision for this initiative is to build a sustainable investment model that will spur further innovation in the dermatology space,” said Michael Sierra, PhD, Vice President of LEO Science & Tech Hub, “We are excited to fill what we see as a major void in the early development process and are committed to keeping the patient at the center of all endeavors.”
Christian Antoni, MD, PhD, Senior Vice President of Global Development at LEO Pharma concluded, “LEO Pharma is proud to be involved in progressing innovations in dermatology by working together with renowned thought leaders and entrepreneurs in order to truly impact society.”
The AID Accelerator Fund was created to support new breakthroughs that address unmet clinical needs. Designed to bridge the gap between government or other initial funding and commercial investment at a stage far earlier and riskier than what traditional venture capitalists or angel investors would typically accept, the fund will provide both seed capital and in-kind intellectual property and advisory services to entities in which it invests.  Focused on driving innovative technologies within the field of dermatology, the fund will have a particular emphasis on product development.
In addition to LEO’s financial support, Michael Sierra will serve as a member of the steering committee where he will help guide investment decisions and also act as a strategic advisor for the projects.  He will be joined on the steering committee by other founding partners from Advancing Innovation in Dermatology, Inc., Pepper Hamilton LLP, Brickell Biotech and Aclaris Therapeutics.