Alphyn Biologics is a clinical-stage dermatology firm advancing first-in-class Multi-Target Therapeutics based on its Zabalafin Platform. Its lead product, Zabalafin Hydrogel, is designed to simultaneously address the multiple drivers of atopic dermatitis (inflammation, itch, bacteria and dry skin) and molluscum contagiosum virus (virus, itch, inflammation, dermatitis and secondary bacterial infection). The topical candidate aims to provide superior efficacy, better tolerability and the potential for sustained disease control compared with single-target treatments. With the new funding, Alphyn plans to run a global Phase 2b trial in atopic dermatitis, launch a Phase 2 program in molluscum contagiosum and scale its raw-material supply. The company became operational in 2020 and maintains offices in Annapolis, Maryland and Cincinnati, Ohio, with subsidiaries in Australia and Austria. Including the latest round, Alphyn has raised roughly $34 million to date to build a pipeline of dermatologic therapeutics.

Total raised

$28M

Funding rounds

2

Latest round

Series B

Latest activity

Dec 2025