Medicxi has announced the launch of Alys Pharmaceuticals, merging six of its dermatology-focused companies to develop novel therapies in immunodermatology with $100m in seed funding.

The new US- and Swiss-based biotech aims to reach its goal of delivering seven to ten proof-of-concept readouts by the end of 2026.

The new drugmaker was co-founded by Medicxi as well as several dermatology and scientific experts from around the world, including UMass Chan Medical School’s Craig Mello, who previously received the Nobel Prize for physiology or medicine in 2006.

All founders, which also include experts from the Icahn School of Medicine at Mount Sinai, Lugwig Maximilian University, the Institut Gustave Roussy and the Georgia Institute of Technology, have minority stakes in Alys.

The new company brings together Aldena Therapeutics, Graegis Pharmaceuticals, Granular Therapeutics, Klirna Biotech, Nira Biosciences and Vimela Therapeutics, which operate in therapeutic areas including psoriasis, atopic dermatitis, pruritus, vitiligo and some forms of skin cancer.

As part of the deal, each subsidiary company’s main asset will be developed largely autonomously by the existing team to develop new medicines that address patients who do not have access to therapeutics, such as common indications like atopic dermatitis.

Furthermore, Alys will keep its component companies separate so that they can continue to focus on their platforms and programmes.

In addition, further fundraising could take place later this year to help fund Aly’s clinical development plans.

Aly’s current lead drug candidate is a small-molecule-based medicine that is delivered as a thermosensitive dermal gel to treat dermatitis associated with radiotherapy.

Other projects are due to start trials within the next year, which include a peptide therapy for vitiligo and an siRNA-lipid conjugate for alopecia areata.

Francesco De Rubertis, chairman, Alys Pharmaceuticals and partner, Medicxi, commented: “We believe that bringing together several asset-centric companies with a phenomenal team will power up Alys to transform innovation in immunodermatology.”