Alphyn Biologics Secures $25 Million in Series B Funding
Proceeds to Fund Global Phase IIb Trial for Zabalafin Hydrogel in Atopic Dermatitis and Initiate Molluscum Contagiosum Study
Alphyn Biologics, a US-based biotechnology company, has successfully completed a Series B funding round, raising $25 million. The round was twice-oversubscribed and spearheaded by QCA Investment Group, with participation from both existing and new investors.
The proceeds from the financing are designated to support several key objectives:
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Supporting the global Phase IIb clinical trial for the company’s lead candidate, Zabalafin Hydrogel, targeting atopic dermatitis (AD).
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Initiating a second Phase II clinical program for the molluscum contagiosum virus (MCV).
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Expanding the supply of drug raw materials.
Zabalafin Hydrogel is being developed as a treatment that targets the interconnected drivers of AD, which include itch, inflammation, dry skin, and bacterial involvement. For AD, the hydrogel is specifically designed to treat the immuno-inflammatory component, pruritus, bacterial involvement, and xerosis.
The drug is also being investigated for its potential to address the virus, inflammation, itch, dermatitis, and bacterial infection associated with MCV. Alphyn suggests that, for MCV, the hydrogel could become the first direct antiviral drug that is both effective and safe, offering a new treatment option, particularly for pediatric patients.
The CEO of Alphyn Biologics thanked investors, stating that the financing reflects confidence in the company’s multi-target therapeutic drug platform. The company, which became operational in 2020, has now secured a total of $34 millionand is positioned to rapidly advance Zabalafin Hydrogel toward two pivotal Phase III trials.
