By Fineline Cube 
China Medical System Holdings Limited (CMS; HKG: 0867) has announced the spin-off of its dermatology-focused subsidiary, Dermavon Holdings Limited, which has submitted an initial public offering (IPO) application to the Hong Kong Stock Exchange (HKEX).
Dermavon’s Pipeline and Focus
Dermavon currently markets three prescription dermatology drugs and has four clinical-stage candidates and two preclinical assets in development. Its portfolio addresses major dermatological conditions such as psoriasis, vitiligo, and atopic dermatitis, positioning it as a key player in the dermatology sector.-Fineline Info & Tech