Alphyn Biologics just raised $25M in a twice oversubscribed Series B, and there is nothing subtle about what that says. This round is not about momentum theater. It is capital with intent, backing a clinical stage dermatology company that believes skin disease deserves more than one trick ponies and warning labels printed in microscopic font. Annapolis roots, global posture, and a platform built to handle complexity without excuses.
Founded in November 2019 and operational by 2020, Alphyn Biologics came together under people who have already carried weight in this industry. Neal Koller, Chairman and CEO, brings 30+ years of leadership across multiple life science companies, guiding them through scale, inflection points, and exits that actually returned capital. Gary Pekoe, PhD, CSO, helped bring Bactroban to market and served as lead clinical protocol writer for Keytruda. Steven Pentelnik, President, spent 35 years at Procter & Gamble managing a $1B early stage technology portfolio and overseeing $750M in beauty care products. This is not theory, this is reps.
The round is led by QCA Investment Group, the investment arm of Queen City Angels, with Angel Physicians Fund and Serial Stage Venture Partners returning, plus corporate and new investors stepping in. It is the largest round QCA Investment Group has ever led, which usually does not happen unless conviction is doing the talking. Total funding now sits at roughly $34M, stacked with another ~$2.5M in non-dilutive grants.
The engine underneath is Zabalafin Hydrogel, powered by Alphyn’s Multi Target Therapeutic platform. One botanical source, 40+ bioactive compounds, multiple mechanisms moving at once. Instead of picking a single symptom to chase, it goes after itch, inflammation, bacteria including MRSA, dry skin, and infection together. Phase 2a data showed meaningful itch reduction, strong quality of life gains, ~84% infection clearance, EASI responses that matter, and minimal side effects. The FDA cleared the IND in Feb 2025, and the CLEAR AD1 global Phase 2b trial began dosing patients in April 2025 across Australia, with Europe and the U.S. expanding next.
Atopic dermatitis is a market measured in the tens of billions and still climbing, held back by treatments that work until they cannot be used anymore. Molluscum contagiosum virus affects millions of children, with options that often hurt the skin to help the virus. Alphyn is aiming for something broader, gentler, and designed for continuous use without compromise.
This $25M Series B funds completion of the global Phase 2b program, launches a Phase 2 study in molluscum contagiosum virus, and expands a drug raw material supply already capable of supporting $1B+ in annual revenue. Dual HQs, subsidiaries in Australia and Austria, patents through 2042, and leadership that has already seen how discipline compounds. Skin deep science, heavyweight intent, and the patience to let real data do the talking.
Startups Startup Funding Venture Capital Series B Dermatology Skin Health Biotech Healthcare Health Tech Data Data Driven Technology Innovation Tech Ecosystem Startup Ecosystem
