Brickell Biotech, a US–based developer of drug therapies for the treatment of skin diseases, has raised $7m in its series B round led by South Korea-based cosmetics maker AmorePacific’s corporate venturing unit.

Alongside AmorePacific Ventures in the B round was venture capital firm Palisade Capital Management’s Concentrated Equity Partnership II fund.

In July 2010, Brickell raised $6.2m from 13 undisclosed investors, according to its regulatory filing.

AmorePacific has also gained an option to first negotiate an exclusive license to…

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