Creabilis Therapeutics, an emerging specialty pharmaceutical company based in Italy, has raised a total of €20 million in a Series A round of funding which will be used to push forward its dermatological pipeline.

The financing was led by Sofinnova Partners, which was joined in the funding round by NeoMed Management and representatives from both venture capitalists will be joining the Creabilis board. Proceeds from the fundraising will be used to finance three Phase II clinical trials of Creabilis' most advanced products: CT327 which is being developed for the treatment of psoriasis and dermatitis and CT200 which is being developed for Behcet's Disease, a rare autoimmune disorder that causes ulcers and skin lesions.

The company noted that CT327 is a new chemical entity obtained through the application of Creabilis' proprietary MiniPEGylation approach. It is aimed at treating psoriasis, dermatitis and other conditions linked to an over growth of keratinocytes and has shown strong antiproliferative activity by inhibiting the NGF receptor TrkA.

Alfredo Boni, president and co-founder of the Ivrea-based firm, said: "We believe this is the first time an Italian start-up has been financed by leading international VCs and we are proud to have attracted two experienced life science investors to support our company". He added that their support reflects the excellence of our R&D capabilities and our ability to deliver on the vision of becoming a leading specialty pharmaceutical company focused on dermatology."