MBM Commercial's corporate team were delighted to assist in the firm's latest funding round, which saw continued support from existing investors.
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.”