Two pharma-backed venture investment firms put $16 million into a Series A round for a new Southern California dermatology drug company called Thesan Pharmaceuticals, which is run by Gordon Foulkes - the former CEO of San Diego startup Excaliard Pharmaceuticals that Pfizer acquired in 2011 (scripintelligence.com, 23 November 2011).
Thesan's lead drug candidate - a topical skin treatment that is expected to enter the clinic in 2013 - is backed by Novo Ventures and Novartis Venture Funds