Tecro Biotech Secures Tens of Millions RMB in Pre-B Financing Led by Zoo Capital to Advance Dermatology Pipeline and Files Preliminary Prospectus

VCBeat learned on January 15 that Technoderma Medicines, Inc. (hereinafter referred to as “Technoderma”), a clinical-stage biopharmaceutical company focused on novel drug development in the dermatology field, announced that it had recently completed a Pre-B financing round amounting to tens of millions of RMB. The investor in this round was Wansheng Venture Capital. The funds raised will be used for the subsequent clinical development of its hair loss project and for Phase II clinical trials (China-U.S. Phase IIa) under simultaneous regulatory filings in China and the United States for its eczema and dermatitis project.

In early 2023, Technoderma Medicines completed its Series A+ financing round with participation from the Chengdu Bio-City Fund, the Chengdu High-Tech New Economy Venture Capital Fund, and Guangzhou Haihui Fund. Within a year, it secured additional investment from Wanwu Chuangtou, further underscoring strong market recognition and favor for Technoderma’s R&D projects.

Dr. Wang Zengquan, CEO of Technodermastated, “The development of new drugs is a lengthy and costly process. I would first like to express my gratitude to Zoo Capital for its recognition of our team and drug pipeline, as well as for its capital injection into the company amid a challenging macroeconomic environment and a relatively sluggish capital market. I am also deeply appreciative of the hard work demonstrated by our team and the strong support provided by our shareholders.”

In 2023, Technoderma actively and efficiently advanced its clinical pipeline, achieving multiple milestone developments. Focusing on unmet clinical and market needs in dermatological indications, Technoderma is committed to the independent R&D of innovative dermatological drugs, guided by principles of originality, differentiation, enhanced clinical value, and improved drug safety. The drugs in its pipeline are either global "First-in-Class" innovations or possess "Best-in-Class" potential within the industry. Notably, TDM-105795 for androgenetic alopecia (AGA) and TDM-180935 for atopic dermatitis (AD) entered Phase IIa and Phase I clinical trials in the United States, respectively, last year.

Currently, the Phase I clinical trial of TDM-180935 ointment for atopic dermatitis (AD) has been completed. Clinical results demonstrated that TDM-180935 ointment exhibits excellent drug tolerability. No drug-related adverse effects were observed in terms of either local topical safety or systemic safety. Systemic drug exposure was absent or minimal, further highlighting the safety advantages of topical administration by avoiding the high systemic exposure associated with JAK inhibitors and the potential safety risks linked to their long-term continuous use.The Phase IIa clinical study of TDM-105795 tincture, a hair treatment project for androgenetic alopecia, has been largely completed. Data consolidation and unblinding are currently underway, and Technoderma Medicines, Inc. will announce the clinical results in the near future.

Dr. Wang ZengquanTechnoderma further stated that it will continue to advance the clinical development of its hair loss and eczema programs in 2024, and expects to submit an Investigational New Drug (IND) application for TDM-181064, an oral prodrug tablet for the treatment of moderate-to-severe plaque psoriasis, in the third quarter of 2024. Upon approval, the program will enter Phase I clinical trials. Technoderma boasts a robust preclinical pipeline, with new drug candidates for lupus erythematosus and scarring also progressing steadily. The company will continue to seek collaborations with leading investment funds and industry partners through an open and proactive approach across clinical development, industrialization, and commercialization, aiming to deliver superior and safer therapeutic options for dermatology patients worldwide.

Zheng Yi, Partner at Wanwu Capital“The statement read: ‘Technoderma Medicines is dedicated to the development of novel therapeutics for dermatological conditions, including hair loss and dermatitis. Its lead pipeline targets androgenetic alopecia, an indication with substantial market potential that straddles both clinical treatment and medical aesthetics. No new products have received FDA approval for this indication in many years. The company’s core product has entered pivotal clinical trials in the United States to validate efficacy in humans, holding promise for addressing this unmet medical need, while subsequent candidates have also advanced into clinical development. We are optimistic about and supportive of Dr. Wang’s team in advancing product development in dermatological indications, thereby benefiting more patients.’”

Technoderma Medicines, Inc. is a clinical-stage biopharmaceutical company. Formerly known as Jiaxing Technoderma Biotechnology Co., Ltd., the company relocated to the Chengdu Tianfu International Bio-Town in Sichuan Province in March 2023.

The Company’s core R&D projects currently include innovative drugs for the treatment of androgenetic alopecia, atopic dermatitis/eczema, psoriasis, lupus erythematosus, and scarring. TDM-105795, the Company’s globally leading small-molecule candidate drug for the treatment of androgenetic alopecia, is about to complete its Phase IIa clinical trial. The innovative JAK1/TYK2 inhibitor for atopic dermatitis/eczema has also completed its Phase I clinical trial and is poised to initiate a Phase II proof-of-concept (POC) trial. The Company has multiple preclinical or clinical-stage candidate drugs, with its pipeline products covering various dermatological indications.

Zoo Capital is the sole early-stage investment firm backed by Boyu Capital, focusing on artificial intelligence, frontier technologies, and life sciences. Zoo Capital is committed to identifying entrepreneurs with innate innovative capabilities and partnering with them as they become pillars of the new economy.