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