A new-to-Nashville company has corralled $35.4 million from investors, shortly after its first product received a critical green-light from the U.S. Food and Drug Administration.
Candesant Biomedical Inc. announced the new financial backing on June 6. The money will propel commercialization of Candesant's newly approved patch to combat excessive underarm sweating, with an eye on nationwide availability in 2024, according to founder and CEO Niquette Hunt.
The company listed a Nashville address on its federal regulatory filings. A company spokesperson said executives moved the headquarters from San Francisco to Nashville earlier this year, "where [our] general and administrative functions are now based." It was not immediately clear how many employees are located in Nashville at present, or if the company has a formal office. Candesant's chief financial officer is the only employee on LinkedIn to list their location as Nashville; Hunt's profile says she is in Boca Raton, Florida, and other employees are scattered around the country.
Candesant's patch, named Brella, won FDA approval in April to treat adults with primary axillary hyperhidrosis. The Series B round of investment was led by California-based venture capital firm KCK MedTech, according to a company press release. Other investors include Polaris Partners, Astia Fund and Correlation Ventures.
The seven-year-old company last raised money in 2020, according to its regulatory filings, which report a $9.1 million round completed that year.
