Monday, May 19, 2008

Kythera Takes $40M For Aesthetic Medicine

Los Angeles-based Kythera Biopharmaceuticals has scooped up another $40M in financing, in a third round, the firm announced today. Kythera said that the new round was led by JAFCO Co. Ltd, and included new investors BBT Capital Management/Apothecary Capital and PFM. Current investors Versant Ventures, ARCH Venture Partners, Prospect Venture Partners, Altitude Life Science Ventures and Wilson Sonsini Goodrich and Rosati also participated. Kythera Pharmaceuticals is focused on biotechnology being applied to the aesthetic medicine market; the firm's lead candidate is a compoound focused on unwanted submental fat and the reduction of subcutaneous lipomas. According to Kythera, Hironori Hozoji of JAFCO will join the firm's board as part of the funding. The funding is tranched into two parts, $30M available immediately and another $10M in the first half of 2009. More information »