TechnoDerma announced the completion of Series A financing

Release time: 2021-04-08 Article source: TechnoDerma

Established in 2014, Technoderma is a leader in the research and development of innovative drugs for skin indications. The success of this round of financing provides a strong support to the company to rapidly advance the preclinical research and IND filing of its drug R&D pipeline projects.

Dr. Wang Zengquan, founder and general manager of Technoderma, said: "We are very grateful to several industry-leading professional investment companies for providing capital to us in this round, and to the investors for their high recognition of our team and projects. This successful round of financing helps building up a strong foundation for the company to rapidly advance the preclinical research and IND filing of our new drug R&D pipeline projects. Specifically, this round of financing funds will be mainly used to support the phase I clinical trial of the small molecule topical drug TDM-105795 for the treatment of androgenetic alopecia and for phase II clinical trial preparation. The fund will also be used to advance the preclinical research programs in the areas of atopic dermatitis/eczema, psoriasis and lupus erythematosus in the drug R&D pipeline. It is expected to quickly complete the IND enabling studies and enter phase I clinical trial for atopic dermatitis project. Technoderma plans to expand indications and R&D pipelines in medical dermatology, and further strengthen the team. We expect new projects will enter clinical stage every year in the next two to three years. We look forward to continuing our collaborations with future and existing investment companies and partners to bring Technoderma to a new level. We will continue to make great efforts to build Technoderma to a distinctive and internationally-recognized first-in-class innovative drug research and development company for skin diseases."

Dr. Liu Dan, partner of CDH VGC (Innovation and Growth Fund), said: “Technoderma is an excellent and top-notch company that we have discovered in the field of skin drug research and development through vertical industry research. The company focuses on discovering and developing therapeutic drugs for skin diseases (such as hair loss, dermatitis, and acne), that are for external use. Compared with oral and injection drugs, topical drugs are very different, having higher barriers, and having great market potentials. Topical drugs have dual market attributes for both clinical treatment and medical aesthetics. The Alopecia program has great potential to address both therapeutic use and aesthetic treatments for the huge population of androgenetic alopecia patients. Furthermore, it is rare to come across with such a group of experienced drug hunters/scientists in Technoderma management team, who are in the field of skin drug discovery, and with international-level of scientific research, development and clinical research. We are optimistic and willing to continue to support the company in this segment of the industry, to lead the development of drugs that meet clinical and medical needs, for the benefit the public."