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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