Aileens Pharma S.r.l. Announces €3M in Series A Funding to advance the development of a wave of Innovative Non-Steroidal Treatments for Dermatologic disorders

Milan, Italy - July 18th, 2018

Aileens Pharma S.r.l. Announces €3M in Series A Funding to advance the development of a wave of Innovative Non-Steroidal Treatments for Dermatologic disorders

18 July 2018 - Milan. Aileens Pharma S.r.l. (Aileens), an Italian company dedicated to developing treatments to improve clinical outcomes in patients suffering from dermatological diseases, today announced the completion of a €3M Series A financing to accelerate the development of its platform of topical non-steroidal treatments for atopic dermatitis both in children and adults, as well as other types of dermatological disorders.

The investor syndicate was led by Panakes Partners, alongside Invitalia Ventures. The round aims at completing the formulations, confirming the mechanism of action, carrying on the clinical developments of products treating three of the most diffused dermatological pathologies (Atopic Dermatitis, Seborrheic Dermatitis and Psoriasis), obtaining the CE mark and launching in European markets.

The company founder and CEO, Sonia Longo Sormani, brings a strong background in the dermatology sector, having worked various years in Sinclair Pharmaceuticals, before creating her own company Claride Pharma.

Scientists have discovered that on the skin of patients suffering from dermatitis, there is an imbalance in the composition of existing resident skin flora, also called Microbiome. This imbalance can cause the release or overproduction of irritants that can trigger the disease or make it more acute. The active ingredient developed by Aileens Pharma is supposed to act as a homeostatic agent modulating the skin or mucosa microbiome, thus enhancing its natural protective role and treating the disease.

Sonia Longo Sormani said: “We are thrilled to have two outstanding Italian investors supporting the development of the company and to address together a market opportunity that, only for the treatment of atopic dermatitis, exceeds 4B$ annually and is foreseen to grow over 5.5B$ within the next 5 years”.

“Atopic Dermatitis is a very diffused pathology which affects more than 330 Million patients, of which more than 80% are suffering of mild to moderate forms, in particular children below 10 years. The need for alternative solutions to Topical CorticoSteroids (TCS), which are shown to be effective but with side effects, is still there”, said Barbara Castellano of Panakes Partners.

“Aileens is poised to provide the first non-pharmacological treatment that is able to compete with current invasive therapeutic approaches, which are not well accepted by all patients. Particularly, the solution could fill the existing market gap in pediatric dermatology”, said Sergio Buonanno, CEO of Invitalia Ventures.

As part of the financing, Panakes’ Barbara Castellano, Invitalia’ Svetlana Vashkel as well as industry expert Maurizio Comini (more than 30 years of expertise in the Dermatology Industry), joined the board of Aileens along with Sonia Longo Sormani, CEO and founder of Aileens.

About Aileens Pharma

Aileens Pharma is an Italian company, which has developed innovative topical treatments dedicated to patients suffering from dermatological diseases, aiming to improving the patient's clinical condition and quality of life using patented ingredients acting on the skin microbioma. With headquarters in Milan, Aileens has a strong collaboration with the Laboratory of Clinical Microbiology led by Prof. Roberto Di Marco from UNIMOL – Campobasso.

About Panakès Partners

Panakès Partners is a Venture Capital investor that finances medical companies, early stage startup and SMEs, with extremely promising products and great ambition, in Europe and Israel, improving both patient outcomes and healthcare economics. Investments focus on the medical device, diagnostics and healthcare IT fields. Panakès Partners is headquartered in Milan, Italy.

About Invitalia Ventures

Invitalia Ventures is the SGR of Invitalia, the National Agency for inward investment and enterprise development. Invitalia Venture SGR manages the Italia Venture I Fund dedicated to equity investments into innovative SMEs and startups. The fund exclusively co-invests along with national and international private operators.