A biopharma management company has created a new business that will use liver X receptor agonists to take on dermatological disorders. NeXeption has raised $21.5 million in a Series A financing round to form Alexar Therapeutics, according to a company statement.
New Science Ventures and Third Point Ventures led the financing round and will each get a board seat. Palo Alto Investors also participated in the round. They will fund the initial development of Alexar’s lead compound, A-110, a topical LXR agonist to treat inflammatory cutaneous disorders.
Alexar is developing a portfolio of Liver X receptor (LXR) agonists. LXR agonists are members of the nuclear receptor superfamily that directly interacts with and regulates genetic pathways. They also have and exhibit potent anti-inflammatory activity.
Behavioral Health, Interoperability and eConsent: Meeting the Demands of CMS Final Rule Compliance
In a webinar on April 16 at 1pm ET, Aneesh Chopra will moderate a discussion with executives from DocuSign, Velatura, and behavioral health providers on eConsent, health information exchange and compliance with the CMS Final Rule on interoperability.
LXR agonists have generated interest as a source of life science innovation with the potential to treat conditions such as atherosclerosis and Alzheimer’s disease.
Dr. Neal Walker is a dermatologist and serial entrepreneur who will serve as vice chairman of the new business. He is also the CEO of dermatology treatment developer Aclaris Therapeutics. “There is a growing need among patients and physicians for innovative therapeutics that treat inflammatory skin disorders…. This portfolio of products has a well-established mechanism of action applicable to a number of indications in dermatology as well as demonstrated potential in other therapeutic areas,” he said.
Dave Pfeiffer will lead the company as CEO. Prior to Alexar, he worked for surgical device and aesthetics company Ellman International as chief commercial officer and executive vice president. He also has 25 years of experience as a senior executive at both large and small life science companies. Steve Tullman, managing partner of NeXeption, will serve as chairman of Alexar’s board of directors.
Although the company declined to detail specific conditions it would target, cutaneous disorders affect skin, hair, nails and related muscles and glands and could include dermatitis.
