Deal summary reprinted from Strategic Transactions - October 2009
Phototherapy device developer Keraderm raised $2.5mm in its Series A financing round to NewVa Capital Partners, which is managed by Third Security.
Deal summary reprinted from Strategic Transactions - October 2009
Five-year-old Keraderm has initiated clinical trials for its lead candidate, a phototherapy device for treating the nail infection onychomycosis. The company's technology uses pulses of germicidal ultraviolet light to kill the fungus. Keraderm believes its treatment would offer a more effective, convenient, and safer alternative to traditional therapies. Money from the Series A will support clinical development as the company prepares to gain approval for and launch the device. In its pipeline Keraderm also has candidates aimed at other nail infections, psoriasis, skin infections, acne, and cutaneous leishmaniasis.
Other device deals this week:
Acquisition
Cardo Medical pays $1.3mm for Vertebron · October 2009
Alliance
Medtronic licenses PEAK's PlasmaBlade TnA · October 2009
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