Navigation Links
Keraderm Closes on $2.5 Million Investment from NewVa Capital Partners, LP

BLACKSBURG, Va., Oct. 23 /PRNewswire/ -- Keraderm Corp. announced the closing today of a $2.5 million dollar Series A investment by NewVa Capital Partners, LP. Currently starting clinical trials, the company's platform harnesses phototherapy technology to treat nail and skin infections. NewVa Capital Partners is a private equity and venture capital fund managed by Third Security, LLC and provides early stage investments in companies located or considering location in the NewVa region of southwest Virginia. This is Keraderm's first institutional investment round.

"This commitment by NewVa Capital Partners provides us with the capital and resources we need to complete our clinical trial, obtain approval for our device from the Food and Drug Administration and begin rolling out our product," says Bill Cumbie, President and CEO of Keraderm. "We're looking forward to this partnership with Third Security. Third Security really works alongside the management of their portfolio companies to create value and they have a lot of experience bringing products in the life sciences to market."

Onychomycosis, a fungal infection of the nail, is a common disorder. In the United States during the past twelve months, 2.3 million prescriptions were written to treat this disease. Current pharmaceutical therapies have limited efficacy and result in relatively high recurrence rates. In some cases, the drugs prescribed can have serious side effects. Keraderm's device, which uses bursts of pulsed light to destroy the fungal infection, has demonstrated positive results in prior clinical trials. The company is currently preparing for a pivotal trial designed to meet the requirements for approval from the U.S. Food and Drug Administration. There are no approved non-invasive, non-drug based treatments for this disease.

"We are excited to be working with Keraderm to help bring their device to market. We think they have a great approach to addressing a large market that is not well served by current treatment options," said Rob Patzig, chair of NewVa Capital Partners and Chief Investment Officer of Third Security. "We believe Keraderm's device is an effective, more convenient, and safe alternative for patients."

Keraderm represents the final investment by NewVa Capital Partners, LP, which is invested in four other companies in the biotech, life sciences, and technology sectors.

About Keraderm

Keraderm Corp., headquartered in Blacksburg Virginia, is an early stage medical device company that has developed a patented, innovative, and effective treatment for nail infections. The treatment eliminates the potential serious side effects of current medications and has shown encouraging results in preclinical and early clinical testing. The Company believes that the ability to safely and effectively treat nail infections, the low cost, and the shortened treatment time of the Keraderm light-based solution will rapidly transform this billion-dollar-plus market. For more information, visit

About NewVa Capital Partners, LP

NewVa Capital Partners, LP is a private equity/venture capital fund created to make investments in companies that are considering initiating operations in, currently operating in, or willing to relocate all or a significant portion of their business to, the NewVa region of southwestern Virginia. The fund was created in 2004 by its founding partners: Virginia Tech Foundation, Carilion Clinic and Third Security, LLC. Third Security RNR LLC is the general partner and manager of the Fund. Third Security, LLC is the manager and operator of Third Security RNR LLC. For more information, visit

About Third Security, LLC

Third Security is an independent private equity and venture capital firm formed in 1999 to manage investments in public and private companies. Third Security evaluates opportunities in a wide range of industries, but principally focuses on emerging through late-stage investments in life sciences and information technology. For more information, visit

SOURCE Third Security, LLC

SOURCE Third Security, LLC
Copyright©2009 PR Newswire.
All rights reserved

Related medicine technology :

1. Keraderm to Release $100 Phototherapy Treatment for Fungal Nail Infections
2. American Scientific Resources Inc. Discloses Audited Financials for 2007 and 2008
3. Caraco Pharmaceutical Laboratories, Ltd. Closes Asset Purchase Agreement with Forest Laboratories, Inc. to Settle Lexapro(R) (escitalopram oxalate) ANDA Patent Litigation
4. Blue Belt Technologies, Inc. Closes Series A Financing
5. Curemark Closes Series A Financing
6. Cognition Therapeutics Closes Series A Financing to Advance Drug Candidates for Alzheimers Disease
7. DNA Therapeutics Closes 2.2 Million EUR Series A Financing Round
8. MabVax Therapeutics Closes Two Licensing Agreements With Sloan-Kettering Institute for Cancer Research
9. BioVascular Inc. Closes $10.87 Million Series C Financing
10. AFFiRiS AG - Encouraging Results From Phase I Studies of two Alzheimers Candidate Vaccines Trigger a EUR 10 Million Milestone Payment
11. Four Pharmaceutical Companies Pay $124 Million for Submission of False Claims to Medicaid
Post Your Comments:
(Date:11/25/2015)... N.C. , Nov. 25, 2015 ... the planned investment of at least $15.8  Million ... Wilmington, NC . The expansion ... capacity to meet the growing demands of the ... site expansion will provide up to ...
(Date:11/25/2015)... , Nov. 25, 2015  Henry Schein, Inc., the ... to office-based dental, medical and animal health practitioners, will ... the Henry Schein ConnectDental® Pavilion , which brings ... of open solutions designed to help any practice or ... here for a schedule of experts appearing at ...
(Date:11/25/2015)... 25, 2015  Trovagene, Inc. (NASDAQ: TROV ), ... Chief Executive Officer Antonius Schuh, Ph.D., is scheduled to ... Annual Piper Jaffray Healthcare Conference. th ... Palace Hotel in New York ... Mr. Schuh will be available for one-on-one meetings during ...
Breaking Medicine Technology:
(Date:11/27/2015)... Angeles, CA (PRWEB) , ... November 27, 2015 , ... ... conversation at the recent 2015 American Dental Association meeting in Washington D.C. revolved around ... help protect a patient’s overall health. The talk stressed the link between periodontal disease ...
(Date:11/27/2015)... ... 27, 2015 , ... An inventor, from Hopkinsville, Ky., thought ... at home, so he invented the patent-pending ELECTRONIC M.D. , The ELECTRONIC M.D. ... doing so, it could help to prevent potential overdose situations. As a result, ...
(Date:11/27/2015)... ... November 27, 2015 , ... MPWH, the No.1 Herpes-only dating community in the world, revealed ... 1-1 ). More than 3.7 billion people under the age of 50 – or ... to WHO's first global estimates of HSV-1 infection . , "The data shocks us ...
(Date:11/27/2015)... ... November 27, 2015 , ... Keeping ... platform for mental health and wellness consultation, has collaborated with a leading web-based ... the knowledge gap experienced by parents and bring advice from parenting experts within ...
(Date:11/27/2015)... ... November 27, 2015 , ... Indosoft ... announces the incorporation of Asterisk 11 LTS (Long Term Support) into its Q-Suite ... LTS brings Q-Suite 5.10 up-to-date with a version of Asterisk that will receive ...
Breaking Medicine News(10 mins):