Tercura Biotech Secures Tens of Millions in Series A+ Financing Amid Milestone Advances in Dermatology Drug Clinical Trials

VCBeat has learned that on January 13, a company focused on the R&D of novel dermatological drugsJiaxing Technoderma Biotechnology Co., Ltd.(hereinafter referred to as"Technoderma") announced that it has recently completedTens of millions of RMBofSeries A+ RoundFinancing. Benefiting from the capital market’s strong interest and high recognition of the company’s clinical pipeline for hair disorders and eczema/dermatitis, the company secured in this round of financingChengdu Biological City No.1 Equity Investment FundandChengdu Gaoxin New Economy Venture Capital Co., Ltd.support and empowerment.

“Seeking vitality in adversity, pursuing growth in challenges!” stated Dr. Wang Zengquan, Founder and CEO of Technoderma Medicines. Guided by this philosophy, the company maintained its hallmark of efficient and robust drug development amid the recurring COVID-19 outbreaks and global economic slowdown in 2022, steadily advancing its clinical pipeline and actively onboarding new fund partners. Its novel drug clinical trials achieved milestone progress, and the Series A+ financing round was successfully completed.

TDM-105795, a blockbuster small-molecule topical drug for the treatment of androgenetic alopecia (AGA), successfully completed Phase I clinical studies in late December 2022 and is expected to initiate Phase II clinical trials in mid-March 2023. Additionally, TDM-180935, a topical drug for atopic dermatitis (AD), received FDA approval for Phase I clinical trials in August 2022, and the project has officially entered Phase I clinical trials in the United States (Gov. Trial Identifier: NCT05525468).

According to reports, TDM-105795 is a first-in-class small-molecule thyroid hormone receptor agonist independently developed by Technoderma Medicines for the treatment of androgenetic alopecia (AGA). The Phase I clinical trial was conducted in two stages: Phase Ia (ClinicalTrials.gov Identifier: NCT05244980) and Phase Ib (ClinicalTrials.gov Identifier: NCT05244980). The Phase I clinical trial was successfully completed in the United States at the end of December 2022, meeting all clinical endpoints. The results met expectations regarding drug safety and dose exploration. The Phase I clinical trial results demonstrated that topical administration of TDM-105795 across all dose groups caused no skin irritation, no systemic adverse events (including cardiac side effects), and no impact on endogenous thyroid hormone levels; furthermore, TDM-105795 was virtually undetectable in plasma. These findings confirm the high safety profile of topical TDM-105795, laying a solid foundation for the upcoming Phase II clinical trials focused on efficacy.

In addition to new drugs entering clinical trials, Technoderma’s investigational pipeline includes TDM-004, a topical agent for psoriasis currently undergoing preclinical safety evaluation; and TDM-003, an oral drug for systemic lupus erythematosus (SLE), which is in the Chemistry, Manufacturing, and Controls (CMC) stage. Furthermore, Technoderma and the Department of Dermatology at the University of Michigan are collaborating on drug discovery research for cutaneous scarring, with ongoing optimization of lead compounds.

Public information indicates that Technoderma is an innovative biopharmaceutical company focused on the development of small-molecule drugs for dermatological conditions. In 2021, the company completed its Series A financing round, raising tens of millions of RMB, led by CDH VGC and participated in by Haisong Medical Venture Capital and Lingdao Capital. The company aims to become a world-leading specialized innovator in dermatology by independently developing first-in-class global novel therapeutics for major skin-related diseases.

Amid the severe downturn in the capital market in 2022, Technoderma Medicines, Inc. seized opportunities to advance its corporate development by actively collaborating with the Chengdu High-Tech Zone and introducing new fund partners, thereby laying a strategic foundation for the industrialization and commercialization of its products over the next five years. The company’s A+ round of financing received strong support from the Chengdu High-Tech Zone government and related industry funds, securing tens of millions of RMB in investment.

According to Dr. Wang Zengquan, Technoderma will continue to steadily advance the clinical development of its drug pipeline in therapeutic areas including alopecia, atopic dermatitis, psoriasis, lupus erythematosus, and scarring. Following the entry of its alopecia and dermatitis programs into clinical trials, the company plans to initiate Phase I clinical trials for its topical treatment for psoriasis in 2023. “The company will seek collaborations with outstanding industry partners through an open and proactive cooperation model throughout the processes of clinical development, industrialization, and commercialization.”