Pelage Pharmaceuticals has successfully raised $120 million in a Series B financing round to advance its lead product, PP405, a groundbreaking treatment for hair loss that aims to reactivate dormant hair follicle stem cells.

Target Information

Pelage Pharmaceuticals is a clinical-stage biotechnology company specializing in regenerative medicine focused on innovative treatments for hair loss. The company has successfully raised $120 million in a Series B financing round co-led by ARCH Venture Partners and GV (Google Ventures), with contributions from existing investors such as Main Street Advisors, Visionary Ventures, and YK Bioventures. The funding will further develop Pelage’s leading product, PP405, a novel topical small molecule designed to reactivate dormant hair follicle stem cells, providing a groundbreaking potential treatment for hair loss in both men and women.

CEO Daniel Gil, Ph.D., emphasized Pelage's commitment to delivering clinically-tested solutions to address the significant market gap in hair loss treatments, which affect over 80% of men and 40% of women at some point in their lives. Pelage's innovative approach is rooted in over a decade of research, focused on the unique metabolic mechanisms of hair follicle stem cells, aiming to create a first-in-class treatment that can initiate hair regrowth. With these funds, Pelage plans to transition into Phase 3 clinical trials for PP405 in 2026.

Industry Overview

The regenerative medicine industry in the United States has witnessed rapid growth, driven by ongoing advancements in biotechnology and increased demand for effective therapies across various health conditions, including hair loss.