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Keraderm Closes on $2.5 Million Investment from NewVa Capital Partners, LP
Date:10/24/2009

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 a
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SOURCE Third Security, LLC
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