On January 24, 2022, Indetek announced the recent completion of the pre-Series A financing led by 3E Bioventures, with participation from Jiuyou Capital, Chang Captial, TSST, and Mingfeng Capital. Existing shareholders, Indaco Capital and Gaoge Capital, also continued their support. The funds raised in this round will primarily be used for clinical trials, pipeline development, innovative technology platform construction, and team expansion.

Indetek is a R&D driven company focused on the development of improved drugs in the field of dermatology, aiming to meet the unmet needs in various aspects of the skin health industry chain. The company has built a product line around its proprietary "Innovative Long-acting Transdermal Technology Platform" and currently has multiple drugs under development.

Medical and health care, as well as consumer markets, are two trillion-dollar industries globally, and the field of dermatology, which overlaps with both, has always been a global research hotspot. Data shows that the global dermatological drug market was approximately $50 billion in 2018 and is projected to grow to $92.4 billion by 2028. China has a vast population with skin diseases, yet in the past decade, there have been very few new dermatological drugs launched domestically, and the clinically used products are still the old drugs approved two to three decades ago, such as the antifungal drug ketoconazole cream (Daktarin), the antibacterial drug mupirocin ointment (Bactroban), and the corticosteroid mometasone furoate cream (Elocon). In addition, the currently marketed products in China have a very limited range of dosage forms, mainly topical ointments and creams, and there is an urgent need for innovative products in clinical practice.

Currently, there are two major challenges in the development of topical formulations worldwide: first, improving the transdermal efficiency of topical drugs; second, enhancing patient compliance with topical formulations. Indetek' "Innovative Long-acting Transdermal Technology Platform" is a transdermal platform with strong transdermal performance and sustained-release capabilities. Drugs developed based on this platform, when applied to the affected area, can significantly enhance the transdermal ability of poorly soluble drugs and maintain long-term drug release, thereby improving efficacy. At the same time, the matrix of this technology platform itself has functions such as promoting wound healing, preventing infection, and providing transparency and aesthetics, greatly improving patient compliance.

Tyler Hu, the founder of Indetek, stated, "We are honored to have the support of multiple biopharmaceutical specialized investment institutions. The success of this financing round provides a strong guarantee for the rapid advancement of our research and development pipeline and the improvement of our technology platform. In the next two to three years, we expect to have a series of products entering different clinical stages. We look forward to working with both new and existing investors to build an internationally competitive innovative drug pipeline and benefit more patients."

Geng Xiangnan, Investment Director of 3E Bioventures, the lead investor of this round, expressed, "We highly value the approach of improving drug effectiveness through innovative pharmaceutical technologies. Indetek is a rare domestic company specializing in innovative dermatological topical drugs. With its unique technology platform for formulation innovation, the team possesses impressive business development capabilities and execution abilities, as well as excellent innovation and commercialization capabilities. 3E Bioventures and its partners will explore more synergistic cooperation with the company to help its rapid and efficient growth."

Sun Yi, Managing Partner of Jiuyou Capital, an investor in this round, stated, "Jiuyou Capital is honored to participate in this round of investment in Indetek. Dermatological innovation drugs and innovative technology platforms have always been our focus of investment. There has been a long time since the last innovative product was launched in the domestic dermatology market, and Indetek' strong breakthrough will bring vitality to the innovation in the field of dermatology. The company's multiple platform technologies and excellent business development capabilities will continuously enrich the dermatology market with new products and bring benefits to patients."

Wang Ying, General Manager of Chang Capital, an investor in this round, said, "Skin health has both medical and consumer attributes, with a large target population, diverse sales channels, and scenarios, and there are still opportunities for new brands and products in China. Yuxi has built a long-acting transdermal technology platform, which has broad application prospects in the fields of dermatological drugs and medical aesthetics."

Wang Yiping, Partner of Indaco Capital, a participant in the previous angel round and this round, commented, "We are honored to be part of Indetek' two rounds of investment. Dermatology products have a market capacity of hundreds of billions, and there is a significant clinical demand that has not been met. The company's patented transdermal technology platform can address the pain points of low transdermal efficiency and poor efficacy of topical dermatological drugs and medical aesthetic active ingredients, thereby improving patient compliance."