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Topical Drug Developer Plans IPO
Sienna Biopharmaceuticals has filed for an IPO, expecting to raise over $74 million
According to Reuters and NASDAQ reports, Sienna Biopharmaceuticals has filed for an initial public offering with the Securities and Exchange Commission, and plans to raise up to $74.75 million.
The seven-year-old company has not yet commercialized any products, but is focusing on clinical-stage topical treatments for inflammatory and other skin conditions, including pruritis, psoriasis, atopic dermatitis and acne. Its technologies include:
· “Topical by Design,” a platform designed to develop targeted therapies based on the directed conjugation of small polyethylene glycol (PEG) polymers to selectively active compounds to adjust the compounds’ activity, selectivity, and physicochemical profile
· Topical photoparticle therapy, which uses silver particles to absorb light and convert it to heat via selective photothermolysis, to treat acne and other conditions.
Source: NASDAQ, Reuters, and Sienna Biopharmaceuticals website