Paris, France, December 7th. 2016. Sofinnova Partners, a leading European venture capital firm specialized in Life Science, today announced the successful sale of portfolio company Creabilis, a dermatology company developing first in class topical treatments, to Sienna Biopharmaceuticals, for up to $150 M including upfront payments and additional payments contingent upon achieving specific milestones.
Sofinnova Partners was the largest investor in Creabilis from the series A in 2009 until today’s agreement, and has continuously backed its growth. Based on Italian science developed at the BioIndustry Park Silvano Fumero in Ivrea (Italy), Creabilis has developed the proprietary technology platform: “Topical by Design”. Under the management of Alex Leetch, CEO, and Silvio Traversa, CSO, Creabilis has used this innovative technology to build a diversified portfolio of drug candidates which address the treatment of skin conditions such as psoriasis, pruritus (itch) and dermititis. Creabilis is headquartered in Kent (UK), and has its R&D activities in Ivrea (Italy).
Sienna Biopharmaceuticals is a privately held medical dermatology and aesthetics company based in Westlake Village (California, USA), led by an experienced team with proven successes in developing and commercializing medical dermatology brands such as KYBELLA®, BOTOX®, DYSPORT®, JUVEDERM® or ACZONE®.
Graziano Seghezzi, Partner at Sofinnova Partners and Creabilis Board Member says: “We are thrilled by this agreement which proves the capacity of the Italian venture market to foster the development of attractive and quality biotech companies. By joining their forces, Sienna and Creabilis are creating a truly global company, with a strong outreach in North America and Europe”.
Alex Leech, CEO of Creabilis, declares: “Sofinnova Partners’ contribution to today’s success is key: as historical venture investors, they supported our vision, financed our development throughout the years, helped bring other international investors, and played a decisive role in this build up agreement”. He adds: “Focusing on still largely unmet needs, we are now in a confident position to bring innovative dermatology treatments to European and North American patients”.
BOTOX® Cosmetic, JUVÉDERM®, KYBELLA® and ACZONE® are registered trademarks of Allergan, Inc.
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About Sofinnova Partners
Sofinnova Partners is an independent venture capital firm based in Paris, France. For more than 40 years, the firm has backed nearly 500 companies at different stages of their development – pure creations, spin-offs, as well as turnaround situations – and worked alongside key entrepreneurs in the Life Sciences industry around the globe. With over €1.3 billion of funds under management, Sofinnova Partners has created market leaders with its experienced team and hands-on approach in building portfolio companies through to exit. For more information, please visit: www.sofinnova.fr
About Creabilis plc
Creabilis is a specialty pharmaceutical company focusing on the development of novel topical treatments in the field of dermatology using their proprietary “Topical by Design” technology that creates first-in-class drugs specifically designed to provide localized efficacy while limiting systemic exposure. Creabilis is backed by highly respected life science investors including Sofinnova Partners, Neomed, and AbbVie Biotech Ventures Inc., and is led by an experienced management team. Creabilis’ corporate headquarters and development functions are based in the UK, with research activities in Italy.