#Sweden #Stockholm #dermatology #SciBase #Castle Biosciences

SciBase Partners with Castle Biosciences for Dermatological Solutions

SciBase Holding AB, a prominent name in the development of AI-driven diagnostic solutions for skin disorders, has recently formalized a collaboration and licensing agreement with Castle Biosciences. This exciting partnership is aimed at creating advanced diagnostic tests within the dermatology sector, with a particular focus on conditions such as atopic dermatitis.

The primary objective of this collaboration is to develop a test capable of predicting flare-ups in individuals diagnosed with atopic dermatitis (AD). The technology will leverage SciBase’s proprietary EIS (Electrical Impedance Spectroscopy) technology and its flagship product, Nevisense, which includes both desktop and point-of-care devices.

In conjunction with this agreement, SciBase plans to initiate a directed share issue worth approximately 30 million SEK, with Castle Biosciences committing to acquire shares valued at around 19 million SEK. The subscription price for these shares has been set at 0.40 SEK each. Additional details regarding this share issue will be disclosed in a forthcoming press release.

Under this strategic collaboration, SciBase and Castle Biosciences will explore various clinical applications related to dermatological diseases, tapping into the extensive market potential across nations such as the European Union, Switzerland, the UAE, Japan, and South Korea for SciBase, and North America for Castle Biosciences. If the development is successful, SciBase stands to benefit from a royalty percentage on Castle’s gross margin alongside a considerable markup on product sales directed to Castle. Furthermore, a milestone payment of 5 million USD is outlined for when Castle's annual sales reach 50 million USD.

This agreement not only expands SciBase’s operational horizon but also enhances its clinical studies pipeline. Pia Renaudin, CEO of SciBase, expressed her enthusiasm: "This collaboration with Castle Biosciences is exciting for SciBase. It will accelerate the use of Nevisense within the skin barrier health market and increase the number of clinical studies, ultimately speeding up access to effective therapies for patients with skin barrier dysfunction. We also embrace Castle as a shareholder in SciBase."

Derek Maetzold, CEO of Castle Biosciences, also commented on the partnership, highlighting the profound impact of atopic dermatitis on global populations. He indicated that this collaboration could significantly enhance management strategies for patients suffering from this ailment and potentially other skin disorders. Castle aims to leverage this relationship to build upon its existing suite of skin cancer tests.

Addressing Skin Barrier Dysfunction

Skin barrier dysfunction is recognized as a major contributor to several skin disorders, encompassing conditions such as atopic dermatitis, psoriasis, ichthyosis, rosacea, and acne. Emerging data suggests that over 500 million individuals worldwide could be affected by these conditions, which primarily stem from skin barrier impairment. Specific estimates include approximately 223 million individuals grappling with atopic dermatitis, alongside others suffering from psoriasis and rosacea.

Moreover, the ramifications of skin barrier dysfunction extend beyond clinical diseases to encompass cosmetic and subclinical issues such as dryness, irritation, and sensitivity caused by product use. These milder forms of skin barrier disruption could affect over a billion individuals globally throughout their lifetimes.

Conclusion

As SciBase embarks on this collaborative journey with Castle Biosciences, the dermatology landscape is poised for transformation. Their combined efforts are expected to catalyze advancements in diagnostic testing, enhancing patient care and outcomes for a multitude of skin disorders. Both companies are optimistic about the pathway ahead, aiming to deliver innovative solutions that prioritize patient needs in skin health management.