Malvern Pharma Raises $21 Million for Skin Tumor Drug

Malvern-based pharmaceutical company Aclaris Therapeutics, Inc. announced that it has closed on a $21 million Series B financing that will help its continued efforts to develop treatments for skin cancer. Inclusive of this round of funding, Aclaris has raised more than $42 million since its formation in August of 2012.

The financing was completed through existing Series A investors, Vivo Ventures, Fidelity Biosciences and Sofinnova Ventures, and follows recent positive results from a Phase 2 clinical trial of the Company’s lead product candidate, A-101, which demonstrated clinically and statistically significant improvements in clearing seborrheic keratoses (SK), one of the most common types of skin tumors. Two additional Phase 2b clinical trials evaluating A-101 in the treatment of SK are ongoing.

“This financing will enable Aclaris to advance A-101 through to the filing of a new drug application (NDA) with the FDA,” said Dr. Neal Walker, president and CEO of Aclaris. “We believe A-101 has the potential to address an unmet clinical need for millions of patients with SK and we are pleased to have an outstanding group of investors that share this belief.”

SK is one of the most common benign tumors seen in older adults, affecting approximately 83 million people in the U.S. While benign, many patients elect to have SK treated either because the lesions have become irritated or are cosmetically concerning. Currently, SK lesions are treated using modalities such as cryosurgery, electrosurgery, curettage, or surgical removal, which often result in pigmentary changes and/or scarring at the treatment site.