This is a 4-part study. Part A will be a randomized, double-blind, placebo-controlled investigation of single ascending doses (SAD) to assess the safety, tolerability, pharmacokinetics (PK), and pharmacodynamic (PD) biomarkers of TVB-3567 administered orally in healthy participants. Part B will be a randomized, open-label, 2-way crossover investigation to assess the effect of food on a single dose TVB-3567 administered orally in healthy participants. Parts C and D will be randomized, double-blind, placebo-controlled investigations of multiple ascending doses (MAD) to assess the safety, tolerability, PK, and PD/biomarkers of TVB-3567 administered orally in healthy participants without and with moderate to severe acne, respectively.

Inclusion Criteria:

Healthy Participants (Parts A, B and C)

1. Healthy, adult, male or female 18-55 years of age
2. Body mass index (BMI) ≥18.0 and ≤32.0 kg/m2
3. Medically healthy with no clinically significant medical history
4. Understands the study procedures in the informed consent form (ICF) and willing and able to comply with the protocol

Healthy Participants with Acne (Part D only)

Participants must meet all of the above criteria, as well as the following inclusion criteria to be eligible for participation in the study:

1. BMI ≥18.0 and ≤37.0 kg/m2.
2. Must be diagnosed with moderate to severe acne vulgaris

Exclusion Criteria:

Healthy Participants (Parts A, B and C)

1. History or presence of clinically significant medical or psychiatric condition or disease

2. History or presence of hypersensitivity or idiosyncratic reaction to the study drug or related compounds including over the counter acne products.

3. Has a clinically significant ophthalmic examination finding

4. Female participant of childbearing potential

5. Unable to refrain from or anticipates the use of:

   • Any drugs, including prescription and non-prescription medications, herbal remedies, or vitamin supplements
   • Any topical anti-acne treatment on the face
   • Any drugs known to be moderate or strong inducers of CYP3A4 enzymes, BCRP, and/or P gp, including St. John's Wort, beginning 28 days prior to the first dosing.
   • Part C only: Any previous tretinoin treatments, including tazarotene, adapalene, isotretinoin, and all-trans retinoic acid.

Healthy Participants with Acne (Part D only)

Participants must not be enrolled if they do not meet any of the above criteria, as well as the following exclusion criteria:

1. Unable to refrain from or anticipates the use of:

   • Any previous tretinoin treatments, including tazarotene, adapalene, isotretinoin, and all trans retinoic acid.
   • Photoelectric therapy, dermabrasion, or chemical peeling
   • Intra-articular and systemic corticosteroid therapy

2. Significant skin diseases