Startups, Venture

OrbiMed, RA Capital back a $26M raise for Realm’s two mid-stage drugs

A prominent group of life sciences investors has plunked down $26 million to invest in Realm Therapeutics, a UK company with a US base that is pursuing a pair of mid-stage studies for atopic dermatitis and allergic conjunctivitis.

Originally named PuriCore, the company reorganized last year and came out gunning on a pair of early-stage drugs: PR022 for atopic dermatitis and PR013 for allergic conjunctivitis. And they’re going after some hot targets with a new approach using a high concentration of hypochlorous acid to tamp down on a slate of key cytokines.

To pay for the mid-stage studies, expected to read out in the middle of next year, Realm — which trades on the London exchange — turned to a transatlantic mix of players, including OrbiMed, BVF Partners LP, RA Capital Management, Abingworth BioEquities Master Fund Ltd and Polar Capital.

In addition to their proof-of-concept studies, the Malvern, PA-based Realm plans to explore their technology’s potential in dry eye and psoriasis. Company shareholders will be asked to approve the new raise in a general meeting October 9.

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