Topical Drug Developer Plans IPO

According to Reuters and NASDAQ reports, Sienna Biopharmaceuticals has filed for an initial public offering with the Securities and Exchange Commission, and plans to raise up to $74.75 million.

The seven-year-old company has not yet commercialized any products, but is focusing on clinical-stage topical treatments for inflammatory and other skin conditions, including pruritis, psoriasis, atopic dermatitis and acne. Its technologies include:

·       “Topical by Design,” a platform designed to develop targeted therapies based on the directed conjugation of small polyethylene glycol (PEG) polymers to selectively active compounds to adjust the compounds’ activity, selectivity, and physicochemical profile

·       Topical photoparticle therapy, which uses silver particles to absorb light and convert it to heat via selective photothermolysis, to treat acne and other conditions.

Source: NASDAQ, Reuters, and Sienna Biopharmaceuticals website