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Newport Beach-based Bonti closed $15.5 million in series C financing. The company develops a Botox-like neurotoxin EB-001, which it is seeking both aesthetics and therapeutic indications. Proceeds will be used to complete a phase 2 study that aims to use EB-001 to treat musculoskeletal pain.

Chief Executive and Co-Founder Fauad Hasan said participation exceeded the company’s initial target for the round.

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“We plan to continue executing effectively to exceed major development milestones and to briskly advance the pipeline for our lead candidate, EB-001, in 2018,” he said.

The company also hired David Ramsay as chief financial officer, effective February. Ramsay is currently a Bonti director and formerly held the same role at Halozyme Therapeutics Inc. in San Diego.

City Hill Ventures LLC, a healthcare-focused investment firm based in San Diego, led the round. Bonti Chairman and Co-Founder Jonathan Lim is a managing partner of City Hill Ventures.