On October 24, 2023, DermBiont, a clinical-stage biotechnology company advancing targeted topical therapeutics for the treatment of dermatological indications, announced a $35.2 million Series B financing. The financing was led by new institutional investor Double Point Ventures, and included continued support from Viking Global Investors, Civilization Ventures, Olive Tree Capital, and others. Wilson Sonsini Goodrich & Rosati provided IP and corporate counsel to DermBiont in the transaction.

The proceeds from the financing will be used to advance the clinical development of two drugs: SM-020, a topical novel AKT kinase inhibitor for the treatment of seborrheic keratoses (SKs), and SM-030, a topical novel PKC-beta inhibitor for the treatment of melasma and other hyperpigmentation disorders of the skin. They are expected to fund the company through end of its Phase 2 meetings with the U.S. Food and Drug Administration (FDA), which are expected in the second half of 2024 for both programs.

Wilson Sonsini has represented DermBiont on IP matters since the company’s inception, and the patent team that advised on the Series B included Matt Bresnahan, Alicia Umpierre, Dalton Case, and Tiara Wong. The Wilson Sonsini corporate team that advised on the transaction included Jason Skolnik, Dani Glazer Signaigo, and Leila Purqurian.

For more information, please see DermBiont’s news release.