Posted November 08, 2012 in Blog, Uncategorized
Calabasas based biotech company, Kythera Biopharmaceuticals made a successful public offering last month, noting the funds will support its injectable candidate aimed at reducing the appearance of double chins.
Cosmetic Surgical Times today reported that Kythera Biopharmaceuticals raised $70 million in gross proceeds in the offering process, selling 4.4 million shares for $16 apiece according to financial site Seeking Alpha. The company plans to retain earnings to put back into its business, which focuses on the facial aesthetic market.
The company has partnered with Bayer and its promising injectable, ATX-101, is currently in phase 3 clinical development in Europe. Two trials recently completed in Europe have demonstrated promising results and support Bayer’s submission for approval in Europe. Trial results in the United States are expected in mid-2013.
According to the American Society for Aesthetic Plastic Surgery, the company’s success will depend on the ability of plastic surgeons and other qualified specialists to use ATX-101 for the reduction of double chin, which the organization says has been on the rise.
According to Kythera, “ATX-101, is a potential first-in-class, injectable drug currently in Phase III clinical development for the reduction of submental fat, which commonly presents as an undesirable “double chin.” Based on clinical trials conducted to date, ATX-101 has exhibited significant, meaningful and durable results in the reduction of submental fat. These results correspond with patient satisfaction measures demonstrating meaningful improvement in perceived chin appearance. If approved by applicable regulatory authorities, we believe ATX-101 will be an attractive solution for the reduction of submental fat, representing a new product category within the rapidly growing facial aesthetics market.”
ATX-101 is a proprietary synthetic formulation of sodium deoxycholate, a well-characterized component of human bile that is naturally occurring in the body and promotes the breakdown of dietary fat. It is similar to one of the components used in the now defunct “lipodissolve” procedure. Lipodissolve did not have sound medical studies behind it, established plastic surgical societies spoke out against it, and it soon failed. Kythera’s studies are the first to scientifically document the use of injectable solution to eliminate fat.
We have spoken with Kythera and will likely be early users of the product once it comes to market in the US and is FDA approved. Kythera says that ATX-101 may have applications for use on isolated fat bulges in other parts of the body. In the meantime, I’m going to have some chocolate chip cookies and milk, working on that double chin that we’ll soon dissolve (just kid din’). Be well!
Dr. Michael Persky and Dr. Sarmela Sunder are located in Encino, California and Beverly Hills, California (The Lasky Clinic) but service all of Los Angeles and the San Fernando Valley. Including, Beverly Hills, Hollywood, Hancock Park, Brentwood, Santa Monica, Pacific Palisades, Malibu, Sherman Oaks, Studio City, Calabasas, Woodland Hills, Tarzana, Westlake, Thousand Oaks, Agoura Hills and more. Please subscribe to our blog by clicking the link above, right. Thank you!
