PreCision Dermatology

About PreCision Dermatology

PreCision Dermatology, Inc. operated as a specialty pharmaceutical company focused on the development and commercialization of dermatological products. The company was established in 2010, originating as a spin-out from Collegium Pharmaceutical's subsidiary, Onset Therapeutics. Its founding was spearheaded by Jeffrey M. Nugent, who brought extensive experience from leadership roles at Neutrogena and Revlon, serving as the founding President and CEO. The initial business plan and assets were sourced by pharmacologists Jane Hirsch and her husband.

The company's business model was centered on providing therapeutic solutions for a variety of skin conditions, including acne and atopic dermatitis. Revenue was generated through two primary channels: the Onset Dermatologics division, which focused on prescription drugs, and the PrecisionMD® segment, which offered products dispensed directly by physicians. PreCision's product portfolio included well-known brands such as Locoid, Hylatopic, Clindagel, and BenzEFoam. A core component of its product development was the proprietary Delevo™ foam technology platform, acquired through the Onset Therapeutics spin-out.

The company pursued an aggressive growth strategy, which included internal product development, strategic acquisitions, and in-licensing opportunities. A key milestone was the acquisition of Triax Pharmaceuticals in 2012, which significantly expanded its product line and revenue base. PreCision Dermatology secured substantial funding from venture capital firms, including Aisling Capital, Boston Millennia Partners, and Frazier Healthcare Partners, raising over $145 million. The company's trajectory culminated in its acquisition by Valeant Pharmaceuticals (now Bausch Health Companies) in July 2014, for a reported $475 million in cash, with an additional $25 million contingent on sales milestones.