(VCBeat) Apr. 07, 2021 -- Jiaxing TechnoDerma Medicines Inc. ("TechnoDerma"), a leader in innovative drugs for skin diseases, announced that it has raised tens of millions in Series A funding round, led by the famous line investment organizations CDH VGC (Venture and Growth Capital), with participation from Oceanpine Healthcare Fund and Linden Asset.

TechnoDerma is a small-molecule drug R&D company focusing on dermatology. The company's current product line includes treatments for hair loss, dermatitis, psoriasis, and lupus erythematosus. TDM-105795, a first-in-class small-molecule drug candidate for the treatment of hair loss due to seborrheic alopecia (also known as androgenic alopecia), has obtained a global intellectual property license. In addition, projects in the R&D pipeline for psoriasis and dermatitis have entered CMC and preclinical studies, with phase I clinical trial application for atopic dermatitis/eczema program expected in early 2022 and phase I application for the psoriasis program expected in late 2022.

TechnoDerma will commercialize its highly selective non-receptor tyrosine-protein kinase (TYK2) inhibitor as a candidate for systemic treatment of lupus erythematosus and other autoimmune-related skin diseases. The company will further expand the R&D pipeline of drugs for skin diseases and accelerate the construction of its R&D team.

TechnoDerma's core drug development team includes Dr.Wang Zengquan, Dr.Li Guanqun, and Dr.Fang Wenkui. The three doctors are all from famous universities, who have studied abroad for many years, and have many years of work experience in well-known pharmaceutical companies. They are all authoritative experts in the field of skin disease research. The three doctors were all rated as "Leading Talents" in Jiaxing City, Zhejiang Province.

Established in 2002, CDH is one of the leading alternative investment fund managers focused on China today with over US$19 billion of assets under management, as of February 31, 2020. From its roots in private equity, CDH has expanded to become a diversified alternative asset management platform covering: Private Equity, Real Assets, Venture and Growth Capital, Mezzanine & Credit, Public Equities and Wealth Management. CDH VGC focuses on investments in healthcare, TMT and other emerging industries with Chinese characteristics.

Oceanpine Healthcare Fund is a healthcare venture fund that aims to connect innovation in the US to the Chinese consumer base, and primarily invests in Chinese and US firms with core technologies and proprietary R&D capabilities. They bridge a supply and demand gap exacerbated by limited R&D in China.