Novaliq is spinning off its dermatology candidates. Working with VCs, the biotech has set up Dermaliq Therapeutics and secured $15 million to fund early-phase clinical trials of dermatology candidates based on cutaneous drug delivery technology.
Germany-based Novaliq has built a business around EyeSol, a water-free eyedrop technology. To keep its focus on ocular disease, Novaliq is spinning off a related technology, hyliQ, that is designed to improve the absorption of drug molecules into the skin. The technology features carrier molecules that interact with lipids in the skin and transport more of the active ingredient past the top layer of the skin.
Dermaliq starts life with hyliQ and three assets based on the technology: alopecia candidate DLQ01, plaque psoriasis prospect DLQ02 and broad-spectrum liquid antibiotic DLQ03. The candidates leverage features of hyliQ such as its ability to target receptors in hair bulbs through follicular drug delivery.
“Dermatology is the logical next step into using Novaliq's proprietary technology platform outside eye care,” Novaliq CEO Christian Roesky said in a statement. “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.”
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3E Bioventures Capital, which led the round, and Beijing Whale Technology have come together to fund development of the three candidates. Dermaliq will use the $15 million to run phase 1/2a clinical trials of the dermatology prospects.
The investor syndicate makes Dermaliq a global proposition. Novaliq is based in Germany, Dermaliq is incorporated in Delaware and both investors have offices in China. 3E Bioventures plans to “explore additional drug pipelines in China and synergize with Dermaliq on both preclinical and clinical development.”