SciBase and Castle Biosciences: A New Era in Dermatological Diagnostics
June 18, 2025, 2:13 pm
Location: Sweden, Sundbybergs kommun
Employees: 11-50
Founded date: 1998
Total raised: $8.58M
In the world of dermatology, innovation is the lifeblood that keeps the field thriving. Recently, SciBase Holding AB, a Swedish medical technology company, made waves by signing a collaboration and license agreement with Castle Biosciences, a prominent player in molecular diagnostics based in the United States. This partnership aims to develop cutting-edge diagnostic tests for skin disorders, particularly focusing on atopic dermatitis (AD). The collaboration is not just a handshake; it’s a strategic alliance that could reshape the landscape of dermatological care.
SciBase, known for its AI-driven diagnostic solutions, has set its sights on revolutionizing how skin disorders are diagnosed and managed. Their flagship product, Nevisense, employs advanced electrical impedance spectroscopy (EIS) technology to enhance diagnostic accuracy. This technology is like a lighthouse guiding clinicians through the fog of uncertainty that often surrounds skin conditions. With the new collaboration, the goal is to create a test that can predict flare-ups in patients with atopic dermatitis, a condition that affects millions worldwide.
The collaboration comes with a financial twist. SciBase plans to conduct a directed share issue, raising approximately SEK 30 million (around $3 million). Castle Biosciences is stepping up to the plate, committing to subscribe for shares worth about SEK 19 million. This investment not only strengthens SciBase’s financial footing but also positions Castle as a significant shareholder, indicating a deep commitment to the partnership.
The agreement delineates territories for both companies. SciBase will focus on markets in the EU, Switzerland, the UAE, Japan, and South Korea, while Castle will concentrate on North America. This division of labor allows both companies to leverage their strengths and expertise in their respective markets. The collaboration is a strategic chess move, positioning both companies to capture a larger share of the dermatological diagnostics market.
As part of the agreement, SciBase stands to gain from a royalty structure that rewards successful product sales. They will receive a single-digit royalty percentage on Castle’s gross margin and a low double-digit markup on product sales. Additionally, a milestone payment of $5 million is on the table when Castle’s annual sales hit $50 million. This structure not only incentivizes both parties but also aligns their interests in the pursuit of innovation.
Atopic dermatitis is more than just a skin condition; it’s a chronic ailment that impacts the quality of life for millions. The skin barrier dysfunction associated with AD can lead to a cascade of other skin disorders, making early detection and management crucial. With over 500 million people globally affected by skin disorders linked to barrier dysfunction, the potential market for effective diagnostic solutions is vast. The collaboration between SciBase and Castle Biosciences is a beacon of hope for those suffering from these conditions.
In a parallel development, SciBase announced its intention to conduct an additional directed share issue of approximately SEK 11 million. This move is designed to bolster its financial resources, allowing for further investment in product development and commercialization efforts. The board of directors has emphasized the importance of expanding their shareholder base with strategic investors, which is crucial in today’s volatile market.
The financial landscape for SciBase is promising. In 2024, the company reported a staggering 177% sales growth in the U.S. market, with quarterly growth reaching 306% year-over-year. This explosive growth underscores the increasing demand for innovative dermatological solutions. The U.S. market alone represents about three-quarters of the estimated potential for dermatological diagnostics, making it a critical focus for SciBase.
As the partnership unfolds, both companies are keen on building strong relationships with key opinion leaders (KOLs) in dermatology. These influential figures can drive adoption and acceptance of new diagnostic tools, paving the way for broader market penetration. SciBase’s commitment to enhancing reimbursement structures for Nevisense is another strategic move, ensuring that their technology becomes a standard in clinical guidelines.
The collaboration with Castle Biosciences is not just about financial gain; it’s about improving patient outcomes. By developing a test that can predict flare-ups in atopic dermatitis, the companies aim to empower clinicians with the tools they need to manage this chronic condition more effectively. This proactive approach could lead to better treatment plans and improved quality of life for patients.
In conclusion, the collaboration between SciBase and Castle Biosciences marks a significant milestone in the field of dermatological diagnostics. It’s a partnership built on innovation, shared goals, and a commitment to improving patient care. As they navigate the complexities of the dermatology landscape, both companies are poised to make a lasting impact. The future of skin health is bright, and with strategic alliances like this, the journey toward better diagnostics and treatments is well underway.
SciBase, known for its AI-driven diagnostic solutions, has set its sights on revolutionizing how skin disorders are diagnosed and managed. Their flagship product, Nevisense, employs advanced electrical impedance spectroscopy (EIS) technology to enhance diagnostic accuracy. This technology is like a lighthouse guiding clinicians through the fog of uncertainty that often surrounds skin conditions. With the new collaboration, the goal is to create a test that can predict flare-ups in patients with atopic dermatitis, a condition that affects millions worldwide.
The collaboration comes with a financial twist. SciBase plans to conduct a directed share issue, raising approximately SEK 30 million (around $3 million). Castle Biosciences is stepping up to the plate, committing to subscribe for shares worth about SEK 19 million. This investment not only strengthens SciBase’s financial footing but also positions Castle as a significant shareholder, indicating a deep commitment to the partnership.
The agreement delineates territories for both companies. SciBase will focus on markets in the EU, Switzerland, the UAE, Japan, and South Korea, while Castle will concentrate on North America. This division of labor allows both companies to leverage their strengths and expertise in their respective markets. The collaboration is a strategic chess move, positioning both companies to capture a larger share of the dermatological diagnostics market.
As part of the agreement, SciBase stands to gain from a royalty structure that rewards successful product sales. They will receive a single-digit royalty percentage on Castle’s gross margin and a low double-digit markup on product sales. Additionally, a milestone payment of $5 million is on the table when Castle’s annual sales hit $50 million. This structure not only incentivizes both parties but also aligns their interests in the pursuit of innovation.
Atopic dermatitis is more than just a skin condition; it’s a chronic ailment that impacts the quality of life for millions. The skin barrier dysfunction associated with AD can lead to a cascade of other skin disorders, making early detection and management crucial. With over 500 million people globally affected by skin disorders linked to barrier dysfunction, the potential market for effective diagnostic solutions is vast. The collaboration between SciBase and Castle Biosciences is a beacon of hope for those suffering from these conditions.
In a parallel development, SciBase announced its intention to conduct an additional directed share issue of approximately SEK 11 million. This move is designed to bolster its financial resources, allowing for further investment in product development and commercialization efforts. The board of directors has emphasized the importance of expanding their shareholder base with strategic investors, which is crucial in today’s volatile market.
The financial landscape for SciBase is promising. In 2024, the company reported a staggering 177% sales growth in the U.S. market, with quarterly growth reaching 306% year-over-year. This explosive growth underscores the increasing demand for innovative dermatological solutions. The U.S. market alone represents about three-quarters of the estimated potential for dermatological diagnostics, making it a critical focus for SciBase.
As the partnership unfolds, both companies are keen on building strong relationships with key opinion leaders (KOLs) in dermatology. These influential figures can drive adoption and acceptance of new diagnostic tools, paving the way for broader market penetration. SciBase’s commitment to enhancing reimbursement structures for Nevisense is another strategic move, ensuring that their technology becomes a standard in clinical guidelines.
The collaboration with Castle Biosciences is not just about financial gain; it’s about improving patient outcomes. By developing a test that can predict flare-ups in atopic dermatitis, the companies aim to empower clinicians with the tools they need to manage this chronic condition more effectively. This proactive approach could lead to better treatment plans and improved quality of life for patients.
In conclusion, the collaboration between SciBase and Castle Biosciences marks a significant milestone in the field of dermatological diagnostics. It’s a partnership built on innovation, shared goals, and a commitment to improving patient care. As they navigate the complexities of the dermatology landscape, both companies are poised to make a lasting impact. The future of skin health is bright, and with strategic alliances like this, the journey toward better diagnostics and treatments is well underway.