Topical Dermatology Innovator Techro Therapeutics Secures Tens of Millions in Series A Funding

Jiaxing Technoderma Biotechnology Co., Ltd. (“Technoderma”), a leading innovator in the development of novel therapeutics for dermatological indications, announced the completion of its RMB tens-of-millions Series A financing round. The round was led by CDH VGC (Venture & Growth Capital), a prominent top-tier investment firm, with participation from OCEANPINE and Linden Asset Group.

Dr. Wang Zengquan, Founder and General Manager of Technoderma Medicines, Inc.He stated, “We are deeply grateful to several industry-leading professional investment funds for their joint capital injection in this round, and we appreciate the investors’ strong recognition of our team and project. The successful completion of this financing round provides robust support for the company to rapidly advance the preclinical research and clinical trial applications for its new drug development pipeline. Specifically, the funds raised will be primarily used to advance the Phase I clinical trials and prepare for the Phase II clinical trials of TDM-105795, a topical small-molecule therapy developed by Technoderma for the treatment of androgenetic alopecia. Additionally, the funds will support preclinical studies for projects targeting atopic dermatitis/eczema, psoriasis, and lupus erythematosus within our drug development pipeline, facilitating rapid entry into Investigational New Drug (IND) applications and Phase I clinical trials. The capital will also be allocated to expanding indications and the R&D pipeline, as well as further strengthening our R&D team. We anticipate that new projects will enter clinical stages annually over the next two to three years. We look forward to continuing our collaboration with both new and existing fund partners and other collaborators to build Technoderma into a distinctive, world-class innovative pharmaceutical company specializing in dermatological diseases, with the aim of launching new drugs to benefit patients and give back to society.”

Dr. Liu Dan, Partner at CDH VGC (Venture & Growth Capital)“It is stated: ‘Through in-depth research into specialized vertical industries, we have identified Technoderma Medicines as an outstanding and scarce leading company in the field of dermatological drug development. The company focuses on developing topical medications for skin-related conditions such as hair loss, dermatitis, and acne. This approach offers significant differentiation from oral and injectable therapies, presents high barriers to entry, and holds substantial market potential, serving both clinical therapeutic and medical aesthetics markets. Its lead pipeline candidate has demonstrated promising potential efficacy for the large patient population suffering from androgenetic alopecia. Furthermore, Technoderma’s core management team represents a rare combination of international-level expertise in scientific research, development, and clinical operations within the dermatological pharmaceutical sector. We are optimistic about the company’s prospects and are committed to providing ongoing support as it strives to lead this niche sector, developing a series of drugs that address unmet needs in both clinical treatment and medical aesthetics, thereby benefiting the public.’”

Sun Jigang, Partner at OCEANPINEstated, “We are delighted to have the opportunity to participate in this round of financing for Technoderma Medicines. China is entering the ‘Innovative Drugs 2.0’ era, which will see the emergence of a cohort of biopharmaceutical companies with international competitiveness. Concurrently, there are increasingly higher expectations for teams’ professional capabilities, product innovativeness, and founders’ entrepreneurial spirit. We highly recognize the team led by Dr. Wang Zengquan and will connect the company with the resources needed for its next stage of development. OCEANPINE will accompany the company’s growth and serve as its long-term ‘all-weather’ partner. We wish Technoderma Medicines greater achievements under Dr. Wang’s leadership.”

Chen Rui, Partner at Linden Asset GroupLinden Asset Group stated, “In recent years, we have been delighted to see a growing number of scientist-entrepreneurs returning from the United States to China, bringing with them innovation and valuable experience. The founding team, comprising Dr. Wang Zengquan, Dr. Li Guanqun, and Dr. Fang Wenkui, stands out as an exemplary group among them. With robust scientific research capabilities and extensive industry experience, the team members are seasoned experts in the field. Through our interactions with the team, we strongly resonate with their understanding and philosophy of innovation, as well as their idealism and commitment to developing high-quality products. Linden Asset Group is committed to identifying and investing in companies with cutting-edge technologies from a medium- to long-term perspective. We are honored to partner with Technoderma Medicines, Inc. to support the company’s growth.”

Technoderma Medicines, Inc. is an innovative small-molecule drug development company focused on the research and development of novel therapeutics for dermatological conditions. The company’s current product pipeline includes treatments for hair loss, dermatitis, psoriasis, and lupus erythematosus. Technoderma’s lead development candidate is TDM-105795, a first-in-class small-molecule therapeutic for seborrheic alopecia (also known as androgenetic alopecia), which is protected by global intellectual property rights. Additionally, its drug candidates for psoriasis and dermatitis have entered CMC (Chemistry, Manufacturing, and Controls) and preclinical studies. The clinical trial application for the atopic dermatitis/eczema program is expected to be submitted in early 2022, while the psoriasis program is anticipated to file for Phase I clinical trials by the end of 2022. Technoderma plans to advance its highly selective non-receptor tyrosine kinase Tyk2 inhibitor as a candidate for the systemic treatment of lupus erythematosus and other autoimmune-related skin diseases. The company will further expand its pipeline of drugs for dermatological indications and accelerate the build-out of its R&D team.

Technoderma’s core new drug R&D team comprises Dr. Wang Zengquan, Dr. Li Guanqun, and Dr. Fang Wenkui. All three hold degrees from prestigious universities, have pursued advanced studies abroad for many years, and possess extensive experience at internationally renowned pharmaceutical companies. As leading experts in the field of dermatological research, they have all been recognized as “Leading Talents” by Jiaxing City, Zhejiang Province.

Technoderma Medicines R&D Team (from left to right: Dr. Fang Wenkui, Dr. Wang Zengquan, and Dr. Li Guanqun)

Dr. Wang Zengquan is the Founder, Chairman, and General Manager of Technoderma Medicines, Inc., as well as an internationally renowned dermatological biologist and expert in the development of novel therapeutics for dermatological conditions. He earned his Ph.D. at Washington State University and conducted postdoctoral research in the Department of Dermatology at the University of Michigan Medical School, where he was subsequently appointed as a Research Investigator. Dr. Wang’s research in nuclear receptors and skin physiology, retinol and skin aging, and the pathogenesis of psoriasis is recognized as being at the forefront of the field globally. After leaving academia, Dr. Wang held key positions at prominent pharmaceutical companies, including OSI Pharmaceuticals, Pfizer, AstraZeneca, and Viva Biotech. With over two decades of experience in drug development focused on dermatological diseases, he has published more than 20 papers in top-tier international journals such as *Nature*, *Nature Medicine*, and *The New England Journal of Medicine*, and holds multiple patents for small-molecule drugs.

Dr. Li Guanqun serves as the Vice President of Biology for Drug R&D at the company. He completed his undergraduate through doctoral studies at Beijing Medical University (now Peking University Health Science Center). He previously served as an attending physician and lecturer in the Department of Dermatology at the First Hospital of Beijing Medical University. He later conducted postdoctoral research at the Laboratory of Skin Biology, National Institutes of Health (NIH), and the Laboratory of Skin Biology, Baylor College of Medicine. Dr. Li formerly held the position of Assistant Professor of Dermatology at Oregon Health & Science University in the United States. Upon transitioning to industry, he held key positions at Pfizer’s Dermatological Topical R&D Center, the Novartis Institutes for Genomic Research, and PhaseRx, Inc. He has published dozens of articles in international academic journals and was awarded the Career Development Award from the Foundation for Dermatology Research. With experience spanning both academia and industry, Dr. Li has accumulated nearly 30 years of R&D expertise in dermatology-related fields.

Dr. Wenkui Fang serves as the Vice President of Medicinal Chemistry for New Drug R&D at the company. He completed his undergraduate and master’s studies at Nankai University, earned his Ph.D. in Organic Chemistry from the University of Michigan, and conducted postdoctoral research at the University of Pennsylvania. Dr. Fang spent 15 years engaged in new drug development at Allergan, a globally renowned dermatological pharmaceutical company, where he worked on therapeutic areas including immune-mediated skin diseases and central nervous system (CNS) disorders. His expertise in the design and medicinal chemistry of topical dermatological agents is unparalleled. After leaving Allergan, Dr. Fang served as Vice President at several pharmaceutical companies, including Baonuo, Xuanzhu, and Nivien, where he oversaw comprehensive innovative drug development efforts. To date, Dr. Fang has published dozens of academic papers in prestigious international journals and holds or has co-invented more than 70 patents for small-molecule drugs during his tenure in the pharmaceutical industry.

In terms of its overall talent architecture, Technoderma Medicines has assembled a pool of top-tier talents from both China and abroad. The company not only benefits from the deep involvement of a robust global scientific advisory team in product R&D and project execution, but also counts among its shareholders numerous founders, CEOs, and other senior executives of pharmaceutical companies. This endows Technoderma with extensive experience and resource reserves in the research, development, and industrialization of innovative drugs.

CDH Investments, established in 2002, is one of the most influential alternative asset management firms in China. As of 2020, its assets under management exceeded RMB 160 billion. CDH Investments operates across six major business segments: private equity, innovation and growth, securities investment, real estate investment, mezzanine capital, and wealth management. CDH VGC (Venture & Growth Capital) focuses on investing in healthcare, TMT (Technology, Media, and Telecommunications), and innovative growth opportunities with Chinese characteristics. The CDH Innovation and Growth Fund is managed by an experienced and distinctive professional investment team dedicated to fostering innovation and development in high-potential growth-stage enterprises. Leveraging CDH Investments’ outstanding performance in healthcare and growth-sector investments, as well as its strategic focus on the TMT sector, the CDH Innovation and Growth Fund has developed unique investment strategies and platform advantages. By drawing on the team’s extensive investment experience, professional judgment, and operational management expertise, the fund comprehensively enhances the value of its portfolio companies.

OCEANPINE is a venture capital fund under OCEANPINE Capital, focusing on innovative companies in the early-stage biopharmaceutical sector, with particular emphasis on revolutionary and disruptive technologies. Leveraging national policies that encourage and support innovation, we collaborate closely with industry partners to align resources from the perspective of long-term corporate development. We assist portfolio companies in accelerating their growth and promoting the industrialization of their technologies, thereby establishing a full-lifecycle investment model covering early-stage to late-stage projects. Our primary investment areas include biopharmaceuticals, medical devices, intelligent manufacturing, and digital health. OCEANPINE has offices in Beijing, Nanjing, Suzhou, and Hong Kong.

Linden Asset Group focuses on long-term equity investment opportunities in the Asia-Pacific region, targeting growth-stage innovative enterprises in the biomedicine and intelligent technology sectors. Managing both RMB and USD funds, Linden Asset Group is committed to identifying and investing in domestic and overseas companies with cutting-edge technologies in these fields from a medium-to-long-term perspective, while continuously exploring effective models for long-term capital investment.