Knobbe Client Sienna Biopharmaceuticals Announces Second Closing of Series A Financing
Strong Investor Demand Increases Total Investments to $46M
In July 2016, Knobbe Martens client Sienna Biopharmaceuticals, Inc. (Sienna), a clinical stage company focused on medical dermatology and aesthetics, announced it had completed a second closing of its Series A financing, securing an additional $12 million in equity capital and bringing the total capital raised to approximately $46 million (with $34 million raised in April 2016).
The additional investment proceeds are targeted to fund Sienna’s pharmaceutical research and advance its business development efforts. Sienna’s lead proprietary technology, Silver Plasmonic Therapy (SPT) has promising applications for acne and permanent hair removal. Clinical trials are already underway and the Company is evaluating additional potential indications.
Sienna Biopharmaceuticals’ mission is to bring to market innovative new products that have the potential to improve patient outcomes and advance the practice of medicine in medical dermatology and aesthetics. The Company brings together the proven leadership and executive team from Kythera Biopharmaceuticals, Inc. (“Kythera”), recently acquired by Allergan, and the backing of several investors who supported the growth and success of Kythera. Leading the Company is Frederick C. Beddingfield III, MD, PhD as President and CEO, and Keith Leonard, as Executive Chairman.
“Securing this additional financing from high-quality new and existing investors demonstrates confidence in the Sienna team and our medical dermatology and aesthetics programs,” said Frederick C. Beddingfield III, MD, PhD, President and CEO of Sienna Biopharmaceuticals. “With our proven team and the strength and experience of our supportive investors, this Series A financing will allow us to accelerate our development programs and hopefully bring these technologies closer to benefitting patients.”
Silver Plasmonic Therapy (SPT) Technology: The Company is developing novel approaches to treat skin based on the science of plasmonic resonance, originally developed at Sienna Labs, Inc. under the leadership of Todd Harris, PhD. SPT entails using a proprietary topical solution containing patented plasmonic particles which interact with the light emitted by existing medical laser systems allowing controlled targeting of microstructures in the skin. The Company believes the treatment has the potential to meet unmet needs in the areas of acne, hair removal, and potentially other indications.
Knobbe Martens Partners Dr. Salima Merani and Terry Tullis have represented Sienna since 2013.
About Sienna Biopharmaceuticals: Sienna Biopharmaceuticals is a clinical stage company focused on the discovery, clinical development and commercialization of innovative medical dermatology and aesthetics products based on scientific breakthroughs. Sienna Biopharmaceuticals’ management comprises executives with extensive experience and demonstrated success in taking new scientific ideas from discovery to commercialization, including many of the most successful global brands in medical dermatology and aesthetics. Find more information at www.siennabio.com.
About Knobbe Martens
With over 300 lawyers and scientists nationwide, Knobbe Martens Olson & Bear LLP dedicates its practice to all aspects of intellectual property law including litigation. Consistently ranked among the top intellectual property firms worldwide, Knobbe Martens serves a diverse group of clients from multinational corporations to emerging businesses of all stages. Headquartered in Orange County, California, Knobbe Martens also has offices in San Diego, Los Angeles, San Francisco, Silicon Valley, Seattle and Washington, D.C. More information about the firm can be found at www.knobbe.com.