Turn Therapeutics has closed its fully-subscribed series B financing.
The capital raised will fund a large-scale, pre-launch, phase 4 trial for AtopX Eczema Emulsion, with enrollment scheduled to begin in Q1 2020. The series B financing will also support advancement of additional infectious disease and dermatology programs based on Turn's proprietary PermaFusion™ technology platform.
"AtopX is an extensively-studied, well-tolerated, non-steroidal, FDA cleared product indicated for the management of atopic, irritant, and radiation dermatitis,” says Bradley Burnam, CEO of Turn Therapeutics, in a news release.”With this new capital, we will commence a large-scale, phase 4 trial specifically for the management of atopic dermatitis that will support the planned launch of AtopX in this high-need space.”
The phase 4, adaptive trial design will assess safety and efficacy of AtopX in moderate to severe eczema patients as its primary endpoint, as well as employ the traditional quality of life and comfort indexes typical of such trials. In addition, the company will continue to advance its pipeline infectious disease and dermatology programs, including new drug candidates to treat shingles of the eye and onychomycosis.
The Series B round included investment from existing investors and new, high-level family office investors with expertise in the biotech space. The round closed on September 30, 2019.