Paradigm shift in oncological dermatology: Vidac Pharma as an innovator, what are Almirall and Biofrontera doing?

How the market leader Almirall operates

Almirall's business model is based on a clear focus on medical dermatology, giving the company a leading role in Europe. In fiscal year 2025, Almirall recorded net sales growth of 12.4% to around EUR 1.1 billion, while EBITDA rose by 20.9% to EUR 232.9 million. A key pillar of this success is the marketing of Klisyri for the field treatment of actinic keratosis, which achieved sales growth of 33.9% to EUR 32.8 million. Although this microtubule inhibitor offers patients an ultra-short treatment duration of only five days, the active ingredient primarily interferes with cell division and addresses the problem symptomatically rather than causally. To secure future growth and defend its market position, the group is consistently investing in research and development. In 2025 alone, EUR 138.1 million was spent on research and development.

Biofrontera: Specialized approaches and new mechanisms of action

Biofrontera, on the other hand, occupies a specialized niche in the treatment of actinic keratosis by combining light therapy and pharmacological effects. Its core product, Ameluz, is used in conjunction with the RhodoLED lamp series and is currently benefiting from a new sales strategy and targeted price adjustments in the important US market. For the full year 2025, the company expects revenue of between USD 41.5 and 42.0 million, representing a solid increase of 11% to 13%. The company is also aggressively expanding into new areas and announced positive results from a Phase 3 study for the treatment of the extremities, neck, and trunk in February 2026. Despite its high efficacy and expansion into new areas of application, however, Biofrontera's preferred combination therapy remains costly and often painful for patients.

The revolutionary: What makes Vidac Pharma different

In contrast to established therapies, Vidac Pharma targets a fundamental metabolic hallmark of cancer: the so-called Warburg effect. Cancer cells preferentially generate energy through aerobic glycolysis, a process strongly associated with overexpression of the enzyme hexokinase-2 (HK2). **Malignant cancer cells produce far too much of this enzyme. It then docks at the wrong place on the cell's "power plants," which blocks the diseased cell's natural self-destruction program. This allows the tumor to continue growing unchecked. Vidac's leading drug candidate, VDA-1102, breaks this unnatural bond. This new mechanism reactivates the cancer cell's natural distress signals, causing it to die in a targeted manner. In addition, the cell's metabolism is reprogrammed to normal, healthy energy production.

Clinical validation and technological scalability

Vidac is currently verifying the theoretical superiority of this approach through extensive patient studies. At the end of February, the company officially began dosing the first patient in a Phase 2b clinical trial for VDA-1102 in high-risk patients with actinic keratosis. This study, which is being conducted at the CentroDerm specialist center in Wuppertal under the direction of Prof. Thomas Dirschka, deliberately focuses on highly proliferative lesions with a high risk of direct transition to invasive carcinoma. In a Phase 2a study, the compound achieved a statistically significant 50% reduction in lesion count, while demonstrating good tolerability and minimal local skin reactions. A drug that effectively heals without compromising quality of life during treatment due to pain or redness has the potential to revolutionize the entire market for field therapies.

Vidac Pharma's innovative strength goes far beyond existing oncological approaches, as evidenced by the simultaneous expansion of its technology platform. Also in February, the company expanded its commitment by launching an in vivo preclinical program for psoriasis, as scientific studies have shown that the enzyme hexokinase-2 is also significantly elevated in psoriatic lesions (symptoms of psoriasis). This unique technological standing positions Vidac Pharma as an agile first mover in industry. Independent analysts at Sphene Capital reaffirm their "Buy" recommendation with a price target of EUR 4.10 and emphasize that the market has not yet adequately priced in the far-reaching significance of cellular correction. This opens up direct access for investors to a pioneer in metabolic cancer medicine that aims to permanently shift the boundaries of conventional dermatology.