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Saturday, Dec 2, 2023

More Funding for Kythera Fat Reducer

Kythera Biopharmaceuticals will continue with development of a fat deposit reduction drug following a $10 million investment from a group of venture capital firms. The money for Calabasas-based Kythera is the balance of a $40 million investment announced last year. The money will allow the company to continue advanced clinical development of a product that reduces under-the-chin fat. Kythera completed studies on the compound in January to demonstrate its efficacy, safety, and tolerability. The additional money is an acknowledgement of the promising data recently announced from the trials on the lead product candidate, said President and CEO Keith R. Leonard. The company plans to commercialize its products in the U.S. and seek strategic partnerships in certain foreign markets for its later stage clinical products. Mark R. Madler

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