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
Wilmington (DE) USA, January 18, 2022 – 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 hyliQTM, 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 hyliQTM 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 hyliQTM 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.