£350,000 equity investment helps healthcare company develop innovative new treatments for chronic skin conditions
Curapel, a healthcare company developing innovative new
treatments for eczema and psoriasis as well as skin pigmentation
conditions, has set up its headquarters at the Life Sciences Hub
Wales in Cardiff.
Finance Wales has invested £250,000 alongside Lancaster Capital
and another investor and Curapel will now use this £350,000 equity
investment to develop and commercialise its Histimex, Melidex and
Formulated from safe, natural and GRAS-designated ingredients,
Curapel’s products are patent protected and all in late-stage
product development, with clinical testing set to continue through
Targetting the multi-billion-pound dermatological healthcare and
cosmetic markets, Curapel’s products have potentially fewer side
effects than products currently available.
“Chronic long-term skin conditions can be debilitating and
difficult to treat and there is currently a significant un-met
clinical need for effective treatments with fewer side effects. The
three products we’re developing at Curapel all use natural
ingredients and are achieving impressive results in initial
“Finance Wales’ investment has come at a pivotal time for Curapel
as it will enable us to build on the progress we’ve already made
and commercialise our key products. It will also enable us to
establish licensing and partnership agreements with larger
pharmaceutical and dermatological healthcare companies to bring
them to market. Dr Peter Luebcke, Curapel’s Chief Executive
The strength of Wales’ growing life sciences sector and
availability of investment funding from Finance Wales influenced
Curapel’s decision to locate its headquarters in Wales.
“Setting up our headquarters in Wales is an important step
forward for Curapel. With the funding and support we’ve
received we can now forge ahead with our plans and being part of
Wales growing life sciences sector will also create growth
opportunities for us in years to come,” Dr Luebcke added.
Successful product commercialisation will see Curapel expand and
potentially create a number of high-quality jobs in Wales.
Welcoming Curapel to Wales Economy Minister, Edwina Hart said:
“We’re committed to building a life sciences sector that is home to
world-class businesses and I hope that the finance, support and
collaborative opportunities on offer in Wales will enable
Curapel to thrive and go on to achieve even greater success.”
Originally a spinout from the University of Manchester, Curapel
(www.curapel.com) was founded
by its Chief Technology Officer, Dr Neil Gibbs who has over 30
years’ experience as a translational skin researcher in London,
Dundee and Manchester.
Ann Casey, Investment Executive in Finance Wales’ technology
ventures investment team said: “Curapel is developing some
innovative skin care products using safe, GRAS-designated
ingredients that are all performing well in clinical studies and
have significant commercial potential in future.
“Peter, Neil and the team have a credible plan to commercialise
these products and a licensing strategy that will enable them to
generate early revenues by tying up with larger pharmaceutical and
All Curapel’s products have excellent safety profiles. Histimex
is an oral treatment that has shown early clinical potential in
eczema and atopic dermatitis and also has commercial potential as a
treatment for paediatric eczema. Melidex is a cosmetic
product designed to even skin tone and treat pigmentation
conditions while Olidex is a topical treatment for psoriasis.
Generally recognized as safe (GRAS) is an American Food and Drug
Administration designation where chemicals or substances are
considered safe and exempt from the usual Federal Food, Drug, and
Cosmetic Act (FFDCA) food additive tolerance