Alphyn Biologics Secures $25M Series B Financing to Advance Dermatology Drug Development

Alphyn Biologics, Inc., a dermatology company, has successfully closed a $25 million Series B financing, which was twice oversubscribed. The funds raised will support the global Phase 2b clinical trial of the company's lead drug candidate, Zabalafin Hydrogel, for atopic dermatitis (AD). Additionally, the financing will facilitate the initiation of a second Phase 2 clinical program for the treatment of the molluscum contagiosum virus (MCV) and the expansion of the company's drug raw material supply.

The round was led by QCA Investment Group and included support from existing investors such as Angel Physicians Fund and Serial Stage Venture Partners, among others. Alphyn's CEO Neal Koller expressed gratitude for the backing received, highlighting the confidence in their Multi-Target Therapeutic Drug Platform and unique drug candidates. Zabalafin Hydrogel aims to address various interconnected drivers of AD and MCV, offering potential long-term control and management for these diseases. The company's innovative approach has been acknowledged by investors as a breakthrough in providing effective treatment options for patients. 

Alphyn's lead product candidate, Zabalafin Hydrogel, is designed to directly target all interconnected problems of both AD and MCV, offering a unique and comprehensive treatment approach. Alphyn Biologics, Inc. is dedicated to developing first-in-class Multi-Target Therapeutics® for severe and prevalent skin diseases, with a focus on atopic dermatitis (AD) and the molluscum contagiosum virus (MCV). Their lead product candidate, Zabalafin Hydrogel, is a topical treatment uniquely designed to address all the interconnected problems of both AD and MCV, reflecting the company's commitment to providing innovative and effective treatment options for patients.

The company's operational headquarters are in Annapolis, Maryland, and Cincinnati, Ohio, with wholly owned subsidiaries in Australia and Austria. Since its establishment in 2020, Alphyn has raised approximately $34 million.

Source: PRNewsWire