PITTSBURGH, Aug. 16, 2018 (GLOBE NEWSWIRE) -- Krystal Biotech, Inc. (Nasdaq: KRYS), a gene therapy company dedicated to developing and commercializing novel treatments for patients suffering from dermatological diseases, today announced that it has entered into a securities purchase agreement with Frazier Healthcare Partners for the private placement of 625,000 shares at $16 per share. The private placement will yield gross proceeds of $10 million and is expected to close on August 17, 2018, subject to the satisfaction of customary closing conditions.

“We are extremely pleased that an impressive investor like Frazier Healthcare Partners supports our efforts to become a leader in the field of dermatological diseases,” said Krish S. Krishnan, Chairman and CEO of Krystal Biotech, Inc.

Net proceeds from this offering are expected to be used to continue funding the research and development of Krystal’s pipeline product candidates.

Chardan acted as the sole placement agent in the transaction.

About Krystal Biotech

Krystal Biotech, Inc. (NASDAQ: KRYS) is a gene therapy company dedicated to developing and commercializing novel treatments for patients suffering from dermatological diseases. For more information, please visit http://www.krystalbio.com.