Pelage Pharmaceuticals has secured $16.75m in a Series A financing round to further the development of PP405, a promising regenerative treatment for hair loss caused by androgenetic alopecia.
GV led the funding round, with Main Street Advisors, Visionary Ventures and YK BioVentures also taking part.
The capital injection will be instrumental in advancing PP405 through clinical trials.
A non-invasive, topical small molecule, PP405 reactivates dormant hair follicle stem cells and stimulates hair regrowth.
By targeting the metabolic processes that regulate hair follicle stem cells’ activation and inactivation phases, the treatment adopts a regenerative medicine approach to combat alopecia, including forms induced by chemotherapy.
PP405 was well-tolerated in a Phase I clinical trial and significantly activated hair follicle stem cells.
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A 0.05% PP405 topical treatment administered daily was found to be safe without adverse events. This data confirms the treatment’s biological activity and mechanism of action observed in preclinical studies.
The intellectual property rights for PP405 and related topical small molecules were acquired by Pelage Pharmaceuticals from the UCLA Technology Development Group in 2018.
Pelage Pharmaceuticals CEO Daniel Gil stated: “We are pleased to announce that we have completed a first-in-human Phase I clinical trial that demonstrated seven days of topical dosing with PP405 was safe and well-tolerated, and showed statistically significant activation of hair follicle stem cells.
“With the support of GV, Main Street Advisors and other top-tier investors, we expect to advance our lead programme to a Phase IIa clinical trial in the second half of this year.”
Affecting both men and women, androgenetic alopecia or pattern balding is responsible for more than 90% of all hair loss.
Apart from androgenetic alopecia, the company anticipates that PP405 has applications for other hair loss types, including stress-induced hair loss or telogen effluvium and chemotherapy-induced hair loss.
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