New Delhi/New Jersey: Indian origin clinical-stage specialty pharmaceutical company, Vyome Therapeutics Inc that is developing novel medicines for treating skin diseases caused by resistant microbes, has announced the closing of a $22 million financing. The company that has relocated to Princeton in New Jersey, will primarily use the funds to advance its lead molecule, VB 1953, through phase 2 studies for treatment of moderate to severe acne and for operations. Part of the funds raised are used for facilitating a secondary transaction.
“The closing of Vyome’s Series D comes at a transformational time for the company, as we prepare to initiate a phase 2b clinical trial with our lead candidate, VB 1953, and as we establish the center of operations and headquarters in the United States through a corporate restructuring exercise,” said Venkateswarlu Nelabhotla (Venkat), chief executive officer of Vyome Therapeutics. “We see this investment as validation of Vyome’s innovative approach to efficient specialty pharmaceutical development and the ability of the company’s scientific platform to help solve the problem of microbial resistance in dermatology.”
Vyome’s lead candidate, VB1953, is entering a Phase 2b trial in the first quarter of 2019 in the US for antibiotic-resistant acne, growing problem in the US and a disease area representing a $2 billion market opportunity.