AGI Dermatics Raises $5.5 Million in Series A Financing.FREEPORT, N.Y. -- AGI (Artificial General Intelligence) A machine intelligence that resembles that of a human being. Considered impossible by many, most artificial intelligence (AI) research, projects and products deal with specific applications such as industrial robots, playing chess, Dermatics, a privately held biopharmaceutical company focused on skin cancer prevention drugs and anti-aging topical skincare products, today announced it has raised $5.5 million in a Series A private equity round. Trevi Health Ventures led the round, which included WHI WHI Women's Health Initiative WHI Women's Health Issues (journal) WHI Women's Health Institute Group and select private investors. In conjunction with the financing, Andrew Fink, Managing Director of Trevi, and Steven Kaye, an investor in Trevi, will join AGI's Board of Directors. "We are very pleased with this strong interest in our program for commercialization of our technology," said Daniel B. Yarosh, PhD, AGI Dermatics' President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . "Enthusiasm for this financing round emphasizes the importance of our market opportunities and provides validation of our scientific breakthroughs." "We have been very impressed with AGI's ability to span the pharmaceutical and cosmeceutical cos·me·ceu·ti·cal n. A cosmetic that has or is purported to have medicinal properties. markets in dermatology," commented Mr. Fink. "The Company has an advanced pharmaceutical program for the prevention of skin cancer and has recently launched its Remergent cosmeceutical line, which is backed by robust clinical data. We look forward to participating in the Company's continued progress." About AGI Dermatics AGI specializes in the commercial applications of DNA repair, photobiology photobiology /pho·to·bi·ol·o·gy/ (-bi-ol´ah-je) the branch of biology dealing with the effect of light on organisms.photobiolog´icphotobiolog´ical pho·to·bi·ol·o·gy n. , and groundbreaking active ingredients, as well as skin delivery systems. The Company manufactures and sells topical prescription and over-the-counter drugs, skincare products, and proprietary cosmetic ingredients. Its portfolio includes: Remergent HQ, a prescription medication for hyperpigmentation Hyperpigmentation Definition Hyperpigmentation is the increase in the natural color of the skin. Description Melanin, a brown pigment manufactured by certain cells in the skin called melanocytes, is responsible for skin color. due to photoaging pho·to·ag·ing n. 1. The process by which skin is changed or damaged as a result of exposure to ultraviolet radiation in sunlight and other sources. 2. , and Dimericine, the "morning after" topical lotion for prevention of skin cancer. This round of financing will accelerate the growth of the Remergent brand and extend clinical studies of Dimericine. About Trevi Health Ventures Trevi Health Ventures is a venture capital firm managed by a team of experienced investment and operating professionals. Based in New York, the firm invests in healthcare and life sciences companies, particularly in medical devices, biopharmaceuticals and healthcare services. |
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