Cytrellis announces the closing of a $50 million Series C funding round. The financing was led by D1 Capital Partners and included participation from an additional new investor, Sands Capital, as well as existing institutional investors ARCH Venture Partners and PFM Health Sciences.
Proceeds will be utilized to develop the company’s commercial infrastructure as well as support additional clinical research, product development, and manufacturing.
“We are thrilled to partner with D1 Capital Partners and Sands Capital. This investment further validates our achievements towards transforming the way in which physicians treat skin without the use of energy, scarring, or surgery. With a solid foundation of robust clinical data, we are looking forward to providing physicians and patients with better outcomes using our entirely new, innovative Ellacor treatment.”
— Karen Cronholm, President and CEO of Cytrellis
“We are proud to support the commercial launch of Ellacor and believe it will improve the treatment paradigm for facial wrinkles. Cytrellis is dedicated to innovation, and we are excited to help the company realize the potential of its clinical research and product development platform over the coming years.”
— James Rogers, of D1 Capital Partners
Ellacor’s recent FDA clearance* provides a pathway to an initial commercial rollout, which Cytrellis intends to execute with a small group of key physicians. The company anticipates a full national rollout in 2022.
*The Ellacor™System with Micro-Coring Technology is indicated for use by medical professionals for the treatment of moderate to severe wrinkles in the mid to lower face in adults aged 22 years or older with Fitzpatrick skin types I-IV.
[Source(s): Cytrellis, PR Newswire]