Almirall invests $15million in Suneva Medical

Spain’s largest drugmaker Almirall (ALM: MC) has announced the closing of a $15 million in Series C equity investment in privately-held US firm Suneva Medical, an innovative aesthetics leader that markets Bellafill.

This product is the only dermal filler on the market that is US Food and Drug Administration-approved proven to be safe and effective for the correction of moderate to severe, atrophic, distensible facial acne scars on the cheek, in patients over the age of 21 years, according to the Spanish company. The deal will give Almirall a position on the Suneva board of directors as Suneva continues with its plans to be active in prescription, aesthetics and medicalized OTC Dermatology.

Eduardo Sanchiz, chief executive of Almirall, commented: "We are very pleased to confirm this strategic investment in Suneva Medical. Almirall is looking for attractive business development opportunities in the dermatology field and this actually represents our first investment in the aesthetics area. We were attracted by the quality of Suneva´s portfolio and management team and this partnership will allow us to further build our understanding of the aesthetics dermatology market in the US."