Healthcare Industry News: skin cancer
News Release - October 9, 2006
AGI Dermatics Raises $5.5 Million in Series a FinancingFREEPORT, N.Y.--(HSMN NewsFeed)--AGI Dermatics, a privately held biopharmaceutical company focused on skin cancer prevention drugs and anti-aging topical skincare products, today announced it has raised $5.5 million in a Series A private equity round. Trevi Health Ventures led the round, which included WHI Group and select private investors. In conjunction with the financing, Andrew Fink, Managing Director of Trevi, and Steven Kaye, an investor in Trevi, will join AGI's Board of Directors.
"We are very pleased with this strong interest in our program for commercialization of our technology," said Daniel B. Yarosh, PhD, AGI Dermatics' President and CEO. "Enthusiasm for this financing round emphasizes the importance of our market opportunities and provides validation of our scientific breakthroughs."
"We have been very impressed with AGI's ability to span the pharmaceutical and cosmeceutical markets in dermatology," commented Mr. Fink. "The Company has an advanced pharmaceutical program for the prevention of skin cancer and has recently launched its Remergent cosmeceutical line, which is backed by robust clinical data. We look forward to participating in the Company's continued progress."
About AGI Dermatics
AGI specializes in the commercial applications of DNA repair, photobiology, and groundbreaking active ingredients, as well as skin delivery systems. The Company manufactures and sells topical prescription and over-the-counter drugs, skincare products, and proprietary cosmetic ingredients. Its portfolio includes: Remergent HQ, a prescription medication for hyperpigmentation due to photoaging, and Dimericine, the "morning after" topical lotion for prevention of skin cancer. This round of financing will accelerate the growth of the Remergent brand and extend clinical studies of Dimericine.
About Trevi Health Ventures
Trevi Health Ventures is a venture capital firm managed by a team of experienced investment and operating professionals. Based in New York, the firm invests in healthcare and life sciences companies, particularly in medical devices, biopharmaceuticals and healthcare services.
Source: AGI Dermatics
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