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Cutia Therapeutics Raises $65 Million in Hong Kong IPO for Dermatology Products

publication date: Jun 20, 2023

Cutia Therapeutics, a Shanghai dermatology company, completed a Hong Kong IPO that raised $65 million. The company’s technology platform customizes the transdermal delivery characteristics of drugs and develops micron and nano-sized particulates. Cutia said it would allocate 45% of the proceeds for trials of its lead adipose accumulation drug, currently in a Phase II trial. Formed in 2019, the company has raised $275 million in four rounds. Its investors include well-known names such as 6 Dimensions Capital, an VC firm tied to WuXi AppTec, as well as Yunfeng Capital, Sequoia Capital and Fidelity Investments (Hong Kong). More details....

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