Fresh from $94.5M crossover round, Frazier-groomed dermatology biotech shoots for $100M IPO
Back in October, when Frazier Healthcare Partners took the wraps off their latest dermatology play, few had heard of Arcutis Therapeutics. But execs are quickly changing that, following up a $94.5 million Series C crossover round with a pitch for $100 million in IPO cash.
It is perhaps fitting for Arcutis to claim the second S-1 filing of the decade. The biotech isn’t doing anything groundbreaking, per se; rather, the idea is to deliver topical formulations of known drugs — from well-established drug classes — thereby plugging a gap between ineffective topical treatments and expensive injectables.
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