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.
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PP405 was well-tolerated in a Phase I clinical trial and significantly activated hair follicle stem cells.
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.
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.”