Kythera Biopharmaceuticals Raises $34 MillionMonday, September 19, 2011
Kythera Biopharmaceuticals Inc., a Calabasas company that’s developing aesthetic medicine products including a chin fat dissolver, on Monday said that it raised $37.4 million in a Series D funding round.
The round, which bring the total raised to date to $108 million, includes new investors Foley Ventures and Latham and Watkins. Also participating were prior investors Versant Venture, Arch Venture Partners, Prospect Venture Partners, Jafco, Partner Funds Management, Invus Financial Advisors, BBT Capital Management/Apothecary Capital and Altitude Life Science Ventures.
The company plans to use the money to conduct late-stage clinical studies for its lead drug candidate, ATX-101, a first-in-class injectable treatment to reduce chin fat.
“These new investments are a further powerful validation of Kythera’s novel, biotechnology-based approach to aesthetic medicine,” Chief Executive Keith Leonard said in a statement.