Dundee, UK (2nd November 2021): In4Derm announces a £1.6m pre-Series A funding round to support the continued development and expansion of its pipeline of first-in-class anti-inflammatory and orphan indications therapeutics. In4Derm is a spin out from the world leading University of Dundee’s School of Life Sciences and has laboratory facilities in Dundee, Scotland.
Following spin out and a seed round in 2020, In4Derm entered an option and licensing arrangement for its topical and oral BET inhibitor (BETi) programmes with Vyne Therapeutics in early 2021. The deal brings potential payments including upfronts and milestones of over $80m along with royalties. In August 2021 Vyne announced the exercise of its option to license In4Derm’s topical BETi programme and its intention to begin clinical trials in 2022.
This pre-Series A financing will enable the continued development of In4Derm’s oral BETi programme and the expansion of its pipeline to include new assets targeting inflammation and orphan diseases. Existing investors o2h Ventures, Meltwind, Wren Capital and Scottish Enterprise participated in the round and the University of Dundee invests for the first time.
Tim Sparey, CEO at In4Derm, said: “We’re delighted to announce this pre-Series A funding round. We’re pleased that the o2h Ventures team, Meltwind, Wren and Scottish Enterprise teams have continued to invest and we particularly welcome investment by the University of Dundee, in what is their first investment in a spin out. With our partnership with Vyne Therapeutics enabling the rapid development of our topical BETi, In4Derm is well placed to accelerate the development of and expand its pipeline to deliver increased value for its shareholders’.
Anne Muir, Head of IP and Commercialisation at the University of Dundee, said “We are delighted to be able to participate in this investment round which demonstrates our belief in the science and team as well as our commitment to regional impact. In4derm is another growing success story for the University and is testament to on the excellence of our Life Sciences research.”
Scottish Enterprise Director of Growth Investments, Kerry Sharp said: “In4Derm is a fantastic example of an innovative Scottish early-stage business with global growth ambitions for its future. With Scottish Enterprise support, the drugs developed by In4Derm will help patients across the world and create jobs in Scotland while contributing to the continued growth of its vibrant life sciences sector.”
Sunil Shah, CEO at o2h Ventures, said: “The team at in4Derm have over-achieved on the milestones and goals that we agreed at the Seed round and given commercial validation with Vyne Therapeutics we are very happy to lead the investment along with our co-investor syndicate of Meltwind, Wren, Scottish Enterprise and Dundee University. This round was oversubscribed by the existing investors which demonstrates the confidence that we have in this team and technology.”
Notes to Editors
About In4Derm:
In4Derm is a biotech that develops new small molecule drugs for anti-inflammatory and orphan indications. In4Derm is a spin out from the world leading University of Dundee’s School of Life Sciences and has laboratory facilities in Dundee, Scotland.
In4Derm is seeking to discover first in class medicines that provide meaningful benefits for patients.
For more information, please visit www.In4Derm.com or contact Tim Sparey Ph.D (CEO) tim@in4derm.com
About o2h Ventures:
The o2h Ventures ‘Human Health’ funds make tax efficient EIS and SEIS investments in Pre-Seed and Seed stage companies that address human disease: we fund the development of novel therapeutic treatments; we help build new services and tools offerings throughout the biotech ecosystem; and we spur the creation of software & artificial intelligence that will change healthcare.
The o2h team are leaders in the biotech community and have been actively involved as investors, holding various board/industry positions as well as being engaged in grassroots scientific activity for over 20 years. o2h Ventures operates from their proprietary 2.7 acre Mill SciTech Park where they are developing a unique model for incubating emerging biotech therapeutic companies.
For more information or to invest in the fund, please visit www.o2hventures.com
About Meltwind:
Meltwind are the due diligence and portfolio management team for Jonathan Milner, founder and former CEO of Abcam. Jonathan invests as an Angel across the life sciences, supporting early-stage companies throughout their journey with investment and guidance.
About Wren Capital:
Wren Capital, whose managing partner is Rajat Malhotra (UK Business Angels Association’s Angel Investor of the Year for 2013), specialises in early stage investing in science, software and engineering. Wren has particular experience in investing in early stage life sciences across different therapeutic areas as well as in medical devices and diagnostics.
About University of Dundee:
The University of Dundee has a core mission to transform lives locally and globally through the creation, sharing, and application of knowledge. It was recognised as the UK’s Number 1 university for biological sciences in the most recent Research Excellence Framework, with scientists translating basic and clinical research to address global health challenges. Dundee was also ranked 33rd in the world for the highest proportion of highly cited publications in the 2021 CWTS Leiden Rankings.
About Scottish Enterprise:
Scottish Enterprise is Scotland’s national economic development agency. We’re committed to growing the Scottish economy for the benefit of all, helping create more quality jobs and a brighter future for every region.
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