Alphyn Closes $25M Oversubscribed Series B Financing Round to Advance Dermatology Pipeline

Financing funds the global Phase 2b clinical trial in atopic dermatitis and Phase 2 clinical program in molluscum contagiosum

ANNAPOLIS, Md., Dec. 12, 2025 /PRNewswire/ -- Alphyn Biologics, Inc., a clinical-stage dermatology company developing first-in-class Multi-Target Therapeutics^®, today announced the close of its $25 million, twice-oversubscribed Series B financing. Proceeds will fund the Phase 2b global clinical trial of Alphyn's lead drug candidate, Zabalafin Hydrogel, for atopic dermatitis (AD), initiate a second Phase 2 clinical program for the treatment of the molluscum contagiosum virus (MCV), and expand the company's supply of drug raw material.

The round was led by QCA Investment Group and included existing investors Angel Physicians Fund, Serial Stage Venture Partners, a corporate fund, and several new investors.

"We are incredibly grateful for the support of our current and new investors. This financing reflects their confidence in our Multi-Target Therapeutic Drug Platform and our unique and highly differentiated drug candidates for atopic dermatitis and the molluscum contagiosum virus," said Alphyn CEO Neal Koller. "We are well-positioned to rapidly advance Zabalafin Hydrogel towards our next key milestones - two pivotal Phase 3 trials - while broadening our pipeline of breakthrough therapies for skin diseases."

Alphyn is developing Zabalafin Hydrogel as the first therapeutic to directly treat the distinct but interconnected drivers of AD - inflammation, itch, bacteria, and dry skin - and to directly treat the distinct but interconnected drivers of MCV – the virus itself, itch, inflammation and, in many sufferers, dermatitis (molluscum rash) and the added bacterial infection with its associated pain. Drugs on the market and being studied in clinical trials for both diseases directly target only one of the disease drivers, leaving the body to later fight the others. Zabalafin Hydrogel, with its expected strong efficacy and patient tolerability profile, has the potential for sustained management and long-term control of these diseases. For MCV, it has the potential to be the first direct antiviral drug that is safe, gentle and effective, and therefore the first real treatment option for the millions of children afflicted with this disease. Current marketed therapeutics destroy the skin and are blistering and painful for patients.

"Alphyn is breaking new ground with a first-in-class, natural topical therapeutic that is expected to directly addresses all of AD's problems and have the potential for long-term, continuous use," said Tony Shipley, chairman of Alphyn's lead investor, QCA Investment Group. "With an experienced leadership team and their continued strong execution, Alphyn is poised to meet two tremendous market needs and bring patients a highly innovative new therapy for AD and MCV."

ABOUT ALPHYN BIOLOGICS

Alphyn Biologics, Inc. is a clinical-stage dermatology company developing first-in-class Multi-Target Therapeutics^® for severe and prevalent skin diseases based on its Zabalafin Platform. Its lead product candidate, Zabalafin Hydrogel, is being developed as a topical treatment for atopic dermatitis (AD), the most common form of eczema, and the molluscum contagiosum virus (MCV), an unsightly, pruritic (itchy), and highly contagious skin infection predominantly in children.

Zabalafin Hydrogel is unique in its ability to directly treat all the interconnected problems of both AD and MCV. For AD, Zabalafin Hydrogel directly treats the immuno-inflammatory component of the disease, directly treats pruritus (itch), directly treats the bacterial component of AD, and directly treats xerosis (dry skin). For MCV, Zabalafin directly targets the virus itself, directly treats itch, directly treats inflammation and, in many sufferers, directly treats dermatitis (molluscum rash) and the added problem of  bacterial infection with its associated pain.

Alphyn's Zabalafin Platform has multiple bioactive compounds and, therefore, multiple mechanisms of action to support treatment of an individual disease in multiple ways, for anticipated improved efficacy, and to provide a robust pipeline of dermatologic therapeutics that have potential advantages in efficacy, safety, side effect, patient tolerability, and regulatory marketing authorization. Alphyn is based in Annapolis, Maryland, and Cincinnati, Ohio, and has wholly owned subsidiaries in Australia and Austria. The company became operational in 2020 and has raised approximately $34 million.

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SOURCE Alphyn Biologics, Inc.