San Diego Business Journal

Thesan Pharmaceuticals Closes $49 Million Financing Round

By Meghana Keshavan Tuesday, February 25, 2014

Carlsbad-based Thesan Pharmaceuticals Inc. closed a $49 million Series B financing round. The company develops treatments for skin disorders like acne and eczema.

The round was led by existing investor Novo Ventures, the life sciences investment firm associated with Danish pharma company Novo Nordisk A/S (NYSE: NVO).

Other investors in the round include SV Life Sciences, which has offices in San Francisco, London and Boston, Danish firm Lundbeckfond Ventures, and Novartis Venture Fund — the investment arm of multinational drug giant Novartis AG (NYSE: NVS).

Thesan, founded in 2012, secured a $16 million Series A financing round late that year.

“We are very pleased with the deep financial backing provided by four top tier venture funds,” Thesan CEO Gordon Foulkes said in a statement.