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.

The best place to read Endpoints News? In your inbox.

Comprehensive daily news report for those who discover, develop, and market drugs. Join 37,700+ biopharma pros who read Endpoints News by email every day.

Free Subscription

Biotech Investment Analyst
SV Health Investors Boston, MA
Director, Program Management
Contrafect Corporation New York, NY
Director, Translational Sciences
Cadent Therapeutics Cambridge, MA

Visit Endpoints Careers ->