Devonian Health Group

What Devonian Health Group does

Devonian Health Group Inc. is a clinical-stage Canadian biopharmaceutical company incorporated in 2015 and headquartered in Montmagny, Quebec, with ~2.78 million shares outstanding post a 60-for-1 consolidation completed January 22, 2026 (market cap ~$27.7M as of February 2026). The company's core technology is the proprietary SUPREX™ platform—a water-based extraction, purification, stabilization, and formulation process for molecular complexes as Active Ingredients, based on over 20 years of research. Its lead pharmaceutical candidate, Thykamine™, is derived from SUPREX™ and has demonstrated anti-inflammatory, antioxidant, and immunomodulatory activity in Phase 2 trials for atopic dermatitis and ulcerative colitis, with preclinical data in MASH and pulmonary fibrosis; the FDA botanical drug pathway and a Health Canada-authorized Phase II/III pediatric atopic dermatitis trial (306 patients) are the active regulatory programs. The company also sells Purgenesis™ anti-aging cosmeceuticals featuring R-Spinasome® (a patent-protected photosynthetic cell extract) through retail channels, and operates Altius Healthcare Group LP, a Canadian prescription drug distribution arm that generated $23.6M in FY2025 revenue but suffered an 87% YoY Q4 FY2025 collapse following the April 2025 expiry of the Dexlansoprazole distribution agreement. Revenue today is therefore dependent on residual distribution volume and modest cosmeceutical sales while Thykamine™ remains pre-approval; the company is debt-free but cash has fallen from $7M (July 2025) to $0.7M (April 2026), and the proposed NYSE American listing (DHGR) with ThinkEquity as underwriter is the primary near-term capital path. The target patient population is patients with fibroinflammatory and autoimmune diseases—gastrointestinal, dermatological, and hepatologic conditions—and the company is publicly traded on the TSX Venture Exchange (GSD) and OTCQB (DVHGF).

Name

Devonian Health Group

Legal name

Devonian Health Group Inc.

Website

https://groupedevonian.com

Company type

Public

Founded year

2015

Operating status

Operating

Headcount range

11–50 employees

Short description

Devonian Health Group is a clinical-stage Canadian biopharmaceutical company developing Thykamine™, a botanical prescription drug candidate from its proprietary SUPREX™ platform, targeting fibroinflammatory autoimmune diseases (atopic dermatitis, ulcerative colitis, MASH, pulmonary fibrosis) in gastrointestinal, dermatological, and hepatologic patient populations.

Ownership category

akta.pro rank

Product category

Botanical Pharmaceuticals

NAICS

Pharmaceutical Preparation Manufacturing (325412), Medicinal and Botanical Manufacturing (325411), Research and Development in Biotechnology (except Nanobiotechnology) (541714), Drugs and Druggists' Sundries Merchant Wholesalers (42421)

SIC

Pharmaceutical Preparations (2834), Medicinal Chemicals & Botanical Products (2833), Wholesale-Drugs, Proprietaries & Druggists' Sundries (5122)

akta.pro primary industry

Dermatology Specialty Pharmaceuticals (HLAIACAL)

akta.pro secondary industry

Regulatory Strategy & Global Submissions (IND/CTA/NDA/BLA/MAA) (HLAGAKAA)

Keywords

• Botanical pharmaceuticals
• Inflammatory disease therapeutics
• Prescription drug distribution
• Derma-cosmeceutical products
• Clinical-stage biopharmaceuticals

Headquarters

HQ city

Pointe-claire

HQ country

Canada

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Technology or R&D, Operations, Personnel, Marketing or Sales, Others

Revenue model

1. Drug Distribution (Altius Healthcare Group LP): Distribution of prescription pharmaceutical products in Canada under license from brand-name pharmaceutical companies. Distribution revenues were $23.6 million in FY2025, down from prior year due to expiry of Dexlansoprazole distribution agreement in April 2025.
2. Pharmaceutical Development: Development of prescription drugs for fibroinflammatory autoimmune diseases including Thykamine™ for atopic dermatitis, ulcerative colitis, MASH, and pulmonary fibrosis. Revenue will come from product sales upon regulatory approval.
3. Cosmeceutical Products (Purgenesis™): High-value derma-cosmeceutical products including anti-aging product line (day, night, and eye creams) using R-Spinasome® as the proprietary active ingredient. Secondary strategy to generate short-term revenues.

Go-to-market motion1 record

Distribution channels2 records

Marketing channels5 records

Core offering

Devonian Health Group is a clinical-stage biopharmaceutical company that develops prescription botanical drugs targeting fibroinflammatory autoimmune diseases, with Thykamine™ as its lead candidate for atopic dermatitis, ulcerative colitis, MASH, pulmonary fibrosis, radiodermatitis, and eosinophilic esophagitis. The proprietary SUPREX™ platform enables extraction, purification, stabilization, and formulation of molecular complexes. The company also operates a prescription drug distribution subsidiary (Altius Healthcare Group LP) in Canada and a Purgenesis™ cosmeceutical product line built on the R-Spinasome® active ingredient.

Product overview

Devonian Health Group operates as a clinical-stage biopharmaceutical company with two distinct product lines: (1) Thykamine™, the lead pharmaceutical drug candidate developed on the proprietary SUPREX™ platform for treating fibro-inflammatory diseases including atopic dermatitis, ulcerative colitis, MASH, pulmonary fibrosis, radiodermatitis, and eosinophilic esophagitis; and (2) Purgenesis™ anti-aging cosmeceutical products featuring R-Spinasome® as the key active ingredient. The company also operates Altius Healthcare Group LP, a prescription drug distribution business in Canada. The SUPREX™ technology platform underlies all pharmaceutical and cosmeceutical product development.

Differentiator

Problem solved

Functional benefit

Brands

• Thykamine™: Lead drug candidate with anti-inflammatory, antioxidant, and immunomodulatory activities targeting fibro-inflammatory diseases including atopic dermatitis, ulcerative colitis, MASH, and pulmonary fibrosis
• SUPREX™
• Purgenesis™
• R-Spinasome®
• Altius Healthcare Group LP

Products and services

• Thykamine™ Lead pharmaceutical drug candidate with anti-inflammatory, antioxidant, and immunomodulatory properties derived from the SUPREX™ platform. Completed Phase II clinical trials in atopic dermatitis and ulcerative colitis; in Phase II/III for pediatric atopic dermatitis; preclinical development for MASH, pulmonary fibrosis, radiodermatitis, and eosinophilic esophagitis. Target buyer is healthcare providers/specialists upon regulatory approval.
• Purgenesis™ Anti-Aging Cosmeceutical Line Women's anti-aging cosmeceutical product line consisting of day cream, night cream, and eye creams, featuring proprietary R-Spinasome® active ingredient. Backed by clinical comparison studies demonstrating superior anti-aging effects compared to prestige brands. Distributed via www.purgenesis.com and retail channels.
• Altius Healthcare Group LP Drug Distribution Drug distribution division focusing on selling prescription pharmaceutical products in Canada under license from brand-name pharmaceutical companies. Generated $23.6M in FY2025 distribution revenue (down from prior year following the April 2025 expiry of the Dexlansoprazole distribution agreement).

Quantifiable outcome

• Phase 2 atopic dermatitis trial: IGA success rate of 30.8% for Thykamine 0.1% vs 6.7% placebo at week 4 (p=0.014)
• +3 more outcomes

Segments1 record

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Six partnerships are on record, tiered core, strategic and supporting.

• Dr. Charles LyndecoreStrategic or Co-development Partner · 21 July 2026Dr. Charles Lynde leads the Phase II/III pediatric clinical trial for Thykamine™ in atopic dermatitis through a network of leading Canadian dermatology centers.
• CN Bio InnovationsstrategicTechnology or Integration · 19 February 2026CN Bio Innovations provided its PhysioMimix® Liver-on-a-Chip platform for preclinical testing of Thykamine™ in a human MASH model, demonstrating dose-dependent anti-fibrotic and anti-inflammatory effects.
• Université LavalsupportingStrategic or Co-development Partner · 12 February 2026Academic researchers at Université Laval performed gene expression analysis for the STAM mouse model study of Thykamine™ for MASH treatment.
• McGill UniversitysupportingStrategic or Co-development Partner · 12 February 2026Statistical analyses for the STAM mouse model study of Thykamine™ for MASH treatment were conducted by McGill University.
• Crohn's and Colitis CanadasupportingOthersDevonian supports the Gutsy Walk for Crohn's and Colitis Canada - the country's largest community event dedicated to people living with Crohn's disease and ulcerative colitis. In Canada, more than 322,000 people live with these diseases.
• Université de MontréalsupportingStrategic or Co-development PartnerDevonian supports dermatology residents of the Faculty of Medicine at the Université de Montréal in their research and educational development for 2026.

Scale indicators7 records

Recent moves8 records

Expansion highlights6 records

Direct peers

• Galderma: Specialty dermatology pharmaceutical company with a focus on atopic dermatitis, rosacea, and other skin conditions. Most directly comparable to Devonian's Thykamine™ dermatology franchise, and a likely strategic acquirer for a botanical AD asset.
• Madrigal Pharmaceuticals: Developer of Rezdiffra, the first FDA-approved therapy for MASH. Directly comparable because MASH is one of Devonian's primary Thykamine™ indications and represents a similar late-stage clinical-to-commercialization story in fibroinflammatory liver disease.
• Arcutis Biotherapeutics: Specialty dermatology biopharma with multiple approved topical therapies for atopic dermatitis, seborrheic dermatitis, and psoriasis. Closely comparable in target indication, prescription dermatology positioning, and small-cap biotech commercial profile.
• Jaguar Health: Clinical-stage botanical pharmaceutical company developing plant-based prescription drugs for gastrointestinal and inflammatory conditions. Closely comparable business model — botanical-derived prescription drugs targeting fibroinflammatory diseases from a small-cap public platform.

Broad incumbents

• Sanofi: Global pharmaceutical leader with Dupixent (co-developed with Regeneron) dominating the atopic dermatitis market. Represents the incumbent competitive benchmark Devonian's Thykamine™ must displace and a potential global commercial partner.
• Regeneron Pharmaceuticals: Co-developer of Dupixent for atopic dermatitis and other fibroinflammatory diseases including MASH (via veopemarsen collaboration). Comparable for the same fibroinflammatory disease focus and the dupilumab mechanistic benchmark Thykamine™ must beat or complement.
• AbbVie: Major immunology player with Skyrizi and Rinvoq across atopic dermatitis, ulcerative colitis, and other fibroinflammatory conditions. Represents the standard-of-care benchmark for both lead Thykamine™ indications and the dominant commercial competitor.
• Eli Lilly: Developer of Ebglyss (lebrikizumab) for atopic dermatitis and a broad immunology pipeline. Represents a key AD competitor and potential strategic partner for botanical adjunctive or differentiated therapies.

Emerging players

• Incyte Corporation: Developer of Opzelura (topical ruxolitinib) for atopic dermatitis and other inflammatory skin diseases. Comparable as a mid-cap biopharma with topical/inflammation franchise overlapping Thykamine™'s lead indication and route of administration.
• MoonLake Immunotherapeutics: Clinical-stage immunology biopharma focused on inflammatory skin and joint diseases, including hidradenitis suppurativa and atopic dermatitis. Comparable for its single-asset, indication-focused late-stage clinical strategy in fibroinflammatory dermatology.

Market position

Strengths5 records

Weaknesses1 record

Competitive moat3 records

Key risks7 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/groupe-devonian

Revenue estimate

Valuation estimate

Number of profiles

Profiles13 records

Subsidiaries1 record

Funding overview

Funding rounds5 records

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Devonian Health Group