Creabilis Raises $20M To Develop Dermatology Drugs

Law360, New York (October 5, 2011, 6:18 PM EDT) -- European biotechnology company Creabilis SA said Tuesday it raised €15 million ($20 million) in funding led by Abbott Biotech Ventures Inc. to pay for the continued development of its most important drug for treating skin and inflammatory diseases.

Creabilis said it acquired a second round of funding from first-time investor Abbott as well as existing investors Neomed Management AS and Sofinnova Partners. The biotech company, which has offices in Luxembourg, Italy and the U.K., also raised money from Italian investors it did not name.

Creabilis will use the money in part to continue development...
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