Mallia Innovations GmbH, formerly Mallia Therapeutics, has completed financing of 5.5 million euros and is reorganizing itself. In the new structure as the Mallia Group, Mallia Innovations will act as a holding company for two specialized subsidiaries with different corporate objectives. The realignment of the Group starts with a clear strategic focus on medical and cosmetic applications for the treatment of hair loss.
The new structure is intended to drive forward the commercial and regulatory development of innovative programs based on sCD83 in the subsidiaries Mallia Innovations and Mallia Aesthetics. The newly raised total capital of EUR 5.5 million will primarily flow into the development of cosmetic applications at the subsidiary Mallia Aesthetics.
Mallia Therapeutics GmbH, founded in 2023 and former m4 Award winner from 2021, will become a subsidiary of Mallia Innovations and will continue to focus on the clinical development of novel therapies for patients with hair loss based on the active ingredient MAL 856, which uses the multimodal mechanism of action of soluble CD83 (sCD83).
The managing directors of Mallia Innovations GmbH are the founders Prof. Dr. Alexander Steinkasserer and Dr. Manfred Gröppel. Prof. Dr. Alexander Steinkasserer is joined by Dr. Stefan Strobl as the new Managing Director of Mallia Therapeutics. The newly founded subsidiary Mallia Aesthetics GmbH will research the potential of MAL-838 for innovative cosmetic applications and will be jointly managed by Dr. Anne Asmuß and Dr. Manfred Gröppel. All three companies are based in Erlangen.
Dr. Manfred Gröppel, co-founder and Managing Director of Mallia Innovations, said: “We have worked intensively over the past few months on our strategy, our business model and the associated corporate structure. We are very proud that we have been able to ramp up Mallia to this operational level so quickly after its founding. I am delighted to officially welcome Anne Asmuß and Stefan Strobl to the Mallia management team.
“With the recently completed seed-financing round of EUR 5.5 million, we are ideally positioned to further advance the development of sCD83 for the stimulation of hair growth and therapy of hair loss. We would like to thank our existing and new investors for their support and confidence in our strategy. Our initial focus is on developing a highly interesting and market-relevant line of patent-protected cosmetic products through Mallia Aesthetics, which we intend to launch in rapid succession. With this differentiated development of our sCD83-based programs, MAL‑838 (Aesthetics) and MAL‑856 (Therapeutics), we can rapidly bring true innovation to consumers and into the clinic.”