GV backs hair loss biotech out of UCLA with PhII set for mid-2024

Pelage Phar­ma­ceu­ti­cals, a Los An­ge­les-based hair loss biotech based on re­search out of UCLA, has reeled in a $16.75 mil­lion Se­ries A and plans to start a mid-stage tri­al lat­er this year.

GV led the fi­nanc­ing, which al­so in­clud­ed funds from Main Street Ad­vi­sors, Vi­sion­ary Ven­tures and YK Bioven­tures. Pelage is de­vel­op­ing a top­i­cal drug called PP405, and a Phase I study showed that it helped ac­ti­vate hair fol­li­cle stem cells af­ter sev­en days of treat­ment and had no ad­verse events, chief med­ical of­fi­cer Qing Yu Christi­na Weng said in an in­ter­view.

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