Dermaliq Therapeutics Signs USD 15 Million Series A Round to Advance Three Transformative Drug Therapies into Clinical Trials
PR94102
WILMINGTON, Del., Jan. 18, 2022 /PRNewswire=KYODO JBN/ --
- Dermaliq Therapeutics, Inc. is an independent private pharmaceutical company
emerged from Novaliq
- Spin-off to unlock value in the space of medical dermatology by using
Novaliq's transformative technology outside eye care
- 3E Bioventures Capital and Beijing Whale Technology Corporation Ltd join as
new investors
- Proceeds will be used for three Phase 1/2a clinical development programs in
dermatology
Novaliq GmbH, 3E Bioventures Capital and Beijing Whale Technology Corporation
Ltd. today announced the establishment of Dermaliq Therapeutics, Inc
(Dermaliq), a newly formed Delaware-based pharmaceutical development company,
and the signing of a USD 15 million Series A financing round. 3E Bioventures
Capital, a leading international life science investor, led the round and was
joined by Beijing Whale Technology Corporation Ltd. Dermaliq's existing
shareholder Novaliq has transferred, and licensed Intellectual Property (IP)
related to the field of dermatology to Dermaliq.
Skin diseases are the fourth leading cause of non-fatal disease burden
worldwide, underscoring the role of dermatology in the growing field of global
health. Skin conditions have significant impact on patients' well-being, mental
health, and social participation. Although topical and local delivery of active
ingredients to diseased skin is the preferred treatment route for the majority
of patients, current therapies often lack satisfactory skin penetration and
patient compliance.
Dermaliq is developing the next generation of skin care therapies to enhance
targeted penetration into skin tissues and to reduce unwanted side effects for
millions of patients. The unique and proprietary technology now owned by
Dermaliq, called hyliQ(TM), is designed to allow cutaneous drug delivery with
unmatched bioavailability. The technology enables the development of superior,
highly effective liquid drug products with exceptional cosmetic properties.
The proceeds will be used to conduct three Phase 1/2a clinical dermatology
programs with the goal to demonstrate safety and efficacy and to advance this
novel skin care drug category to market to improve the lives of millions of
patients:
- DLQ01 is a liquid drug candidate for the topical treatment of female and male
androgenetic alopecia, targeting the prostamide E2 (PGE2) receptor in hair
bulbs through specific follicular drug delivery.
- DLQ02 is a novel and liquid topical calcineurin inhibitor drug therapy for
plaque psoriasis, particularly in difficult to treat areas.
- DLQ03 is a broad-spectrum liquid antibiotic drug candidate that targets
topical treatment of bacterial skin and soft tissue infections, including the
reduction of antibiotic-resistant strains.
The Company has demonstrated proof-of-principle for enhanced topical drug
delivery using hyliQ(TM) in nonclinical models for all three applications.
"We are excited that 3E Bioventures Capital and Beijing Whale Technology
Corporation have committed to support Dermaliq as new investors in the Series A
round," said Dr. Frank Löscher, Chief Executive Officer of Dermaliq. "Our
spin-off from Novaliq and successful raising of significant funds provides us
with the opportunity to build a leading specialty pharmaceutical company and
expand the application of Novaliq's transformative drug delivery technology
into dermatology."
"3E is committed to investing in global leading life sciences and biomedical
companies and help them grow with access to globalized resources and
capabilities," said Karen Liu, Managing Director 3E Bioventures Capital.
"Dermaliq is using a unique, and scientifically sound technology to achieve
high efficiency drug delivery across the skin. The technology is already proven
in ophthalmology and holds great promise for dermatology. We will be excited to
explore additional drug pipelines in China and synergize with Dermaliq on both
pre-clinical and clinical development."
"Whale Technology values the solid science foundation of Dermaliq's proprietary
hyliQ(TM) technology platform," said Ming Gao, founder and Chief Executive Officer
of Whale Technology Co. Ltd. "Dermaliq's founding team demonstrates a great
combination of science, clinical experience and commercialization strength. We
see great potential of Dermaliq's pipeline in the field of dermatology after
Novaliq's proven clinical and commercial success in ophthalmology."
"Dermatology is the logical next step into using Novaliq's proprietary
technology platform outside eye care," said Dr. Christian Roesky, Chief
Executive Officer Novaliq. "The spin-off into an independent company allows
Dermaliq to greatly benefit from our experience in ophthalmology while being
fully committed to the multiple product development activities in dermatology,
and likely to further broaden its pipeline to other skin conditions."
To reflect the new shareholder structure, Karen Liu of 3E Bioventures Capital
will join Dermaliq's Board of Directors. Dr. Löscher has also transitioned from
his role as Chief Technology Officer at Novaliq to lead Dermaliq as its CEO &
President.
About Dermaliq:
Dermaliq Therapeutics, Inc. is a private company founded in 2021 through a spin
off from Novaliq to reimagine topical dermatology. The Company is incorporated
in Wilmington (DE), USA under Delaware law. The company has signed a USD 15
million series A round to advance three transformative skin care drug therapies
through clinical trials. Key shareholders are Novaliq GmbH, 3E Bioventures
Capital and Beijing Whale Technology Corporation Ltd.
About 3E Bioventures Capital:
3E Bioventures Capital is a healthcare venture capital firm, dedicated to
investing in cutting-edge life sciences and biomedical technologies, with a
focus on breakthrough first-in-class therapies and disruptive
cross-disciplinary innovations in medical devices and diagnostics. 3E
Bioventures takes on a science-driven, entrepreneur-friendly investment
philosophy by working closely with companies and research institutions to
develop drugs or products that have strong unmet medical needs. With offices in
Beijing, Shanghai, and the San Francisco Bay Area, 3E Bioventures leverages its
experience, capabilities, and network to help companies tap into markets and
resources across the Pacific and advance with greater speed and capital
efficiency. The motto of 3E Bioventures Capital is captured in its name 3E:
Expertise, Efficiency, Execution.
About Beijing Whale Technology Corporation Ltd.:
Beijing Whale Technology Corporation Ltd. is a China-based pharmaceutical group
committed to the long-term sustainable development in the fields of chemistry,
pharmaceuticals and aesthetics. With more than 20 years of history, Whale Tech.
has developed two core business units. On one hand, Whale Pharmaceutical Co.
Ltd., Whale Chemistry Co. Ltd. and Whale Pharmatech Co. Ltd. are grouped as
pharmaceutical and chemistry business unit. On the other hand, Whale Biotech is
a research stage biotech company with the focus of developing aesthetics
products.
About Novaliq:
Novaliq is a biopharmaceutical company focusing on the development and
commercialization of first- and best-in-class ocular therapeutics based on
EyeSol(R), the worldwide first water-free eyedrop technology. Novaliq offers an
industry-leading portfolio addressing today's unmet medical needs of millions
of patients with eye diseases. Novaliq GmbH is headquartered in Heidelberg,
Germany and Novaliq Inc. has an office in Cambridge, MA, USA. The long-term
shareholder is dievini Hopp BioTech holding GmbH & Co. KG, an active investor
in Life and Health Sciences companies.
Logo - https://mma.prnewswire.com/media/1728174/Dermaliq_Therapeutics_Logo.jpg
For further information, please contact:
Dermaliq Therapeutics Inc.
Dr. Frank Löscher
Chief Executive Officer
info@dermaliq.com
+49 6221 50259-272
Source: Dermaliq Therapeutics
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