Pelage raises over $16M after Phase I win for hair loss treatment

27 Feb 2024
firstwordpharma.com
Phase 1Phase 2Clinical Result
Pelage Pharmaceuticals secured a $16.8-million series A Tuesday to progress its hair loss treatment into a Phase II study. The round, which was led by GV with participation from Main Street Advisors, Visionary Ventures and YK BioVentures, was prompted by positive early data on the therapy's safety and biological mechanism.
“Pelage is pioneering an innovative approach with the potential to disrupt the treatment landscape, moving beyond agents that merely slow the progression of hair loss to a treatment solution that actually helps to regrow hair," said GV’s Cathy Friedman, who also serves on Pelage’s board.
According to the company, existing hair loss therapies can have limited efficacy and an unclear mechanism of action, and most are not FDA-approved. Other treatment options, like hair transplantation, can be invasive.
Pelage’s PP405 was developed to target the biological root of alopecia related to age, stress, hormones, and chemotherapy. For people with the condition, their hair follicle stem cells can become dormant and unable to trigger hair growth.
The regenerative, topical small molecule targets an undisclosed “intrinsic metabolic switch” to activate stem cells in hair follicles and stimulate hair growth.
Heading to Phase II
A Phase I trial of PP405 met its primary safety endpoints and showed statistically significant stem cell activation in hair follicles after one week of daily treatment, supporting the experimental drug's mechanism of action.
Translational data will be presented at the American Academy of Dermatology meeting in March. A mid-stage study is slated to begin mid-year.
Meanwhile, Qing Yu Christina Weng joined Pelage as chief medical officer. She previously served as head of business development and strategy at complement disease-focused Kira Pharmaceuticals.
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