2nd time the charm?

Dermatology company Cutanea Life Sciences Inc., which last week filed to raise up to $15 million in an IPO, is taking its second shot at getting its rosacea candidate into Phase III.

Cutanea's omiganan (CLS001) is expected to start Phase III testing to treat rosacea in mid-2011 and Phase II testing to treat atopic dermatitis in 2H11. The company has exclusive, worldwide rights to the antimicrobial bactolysin peptide for dermatological uses from BioWest Therapeutics Inc. (TSX:BWE) (formerly Migenix Inc.)...