Castle Creek Pharma, a U.S.-based biopharmaceutical company, received $71.8 million in funding round.

Backers included U..S-based investment management firm Fidelity Management & Research Company and Valor Equity Partners.

Castle Creek intends to use the funds to continue to develop CCP-020 as an important treatment for epidermolysis bullosa simplex (EBS).

With this new capital, the company has invested a total of $122.5 million into the development of innovative therapies for patients with rare dermatologic conditions including EBS.