Report: Dermavant Files for $100M IPO

Dermavant Sciences last week filed with the SEC to raise up to $100 million in an initial public offering, Renaissance Capital reports.

The company, a dermatology-focused subsidiary of Roivant Sciences, has made several key appointments lately, including naming Todd Zavodnick Chief Executive Officer. 

In a recent interview with Practical Dermatology® magzine, Mr. Zavodnick said Dermavant as a company, "genuinely excites me." The lead asset, tapinarof, is an investigational non-steroidal preparation being developed for atopic dermatitis. Other product candidates in the pipeline may address atopic dermatitis, hyperhidrosis, vitiligo, and acne.

"Dermavant is a biotech company that we aim to operate within medical dermatology and deliver innovation," Mr. Zavodnick said. "We understand what patients and healthcare providers need in today’s market. We also understand access and what managed care is going to mean to the United States in the years coming, and the novel approaches it will require to ensure new medicines reach patients easily."