Square 1 Bank provided a $10 million credit facility to new client Sebacia, a clinical-stage, private, medical device company dedicated to the treatment of dermatological conditions. Proceeds will be used to support the company’s continued growth.

Founded in 2010 as part of The Innovation Factory, Sebacia is committed to the treatment of acne through new light-based treatments and procedures. Sebacia’s treatment utilizes microparticles in combination with hair removal lasers to treat targeted areas affected by acne.

Anthony Lando, chief executive officer of Sebacia, said, “Square 1 Bank is a great partner and will provide us with the opportunity to expand our non-dilutive funding options. The additional capital will support our strategic goals, which include completing a pivotal U.S. clinical trial to support FDA approval of Sebacia’s treatment for moderate to severe acne, expanding our intellectual property portfolio, as well as preparing for manufacturing scale-up to support European and U.S. launches of the product.”

Mara Huntington, managing director of Square 1 Bank’s life sciences practice, added, “With impressive backing from partners such as Domain Associates and Versant Ventures, Sebacia is definitely one to watch. Its management team, led by Anthony Lando, and innovative medical device technology have positioned the company for great success. We are excited to be Sebacia’s banking partner and look forward to supporting it for years to come.”