Pelage Pharmaceuticals has closed a $16.75 million Series A financing led by GV with participation from Main Street Advisors, Visionary Ventures and YK BioVentures to advance a first-in-class treatment for androgenetic alopecia and other types of alopecia including chemotherapy-induced hair loss.
PP405 is designed to inhibit the mitochondrial pyruvate carrier (MPC) to specifically reactivate the dormant hair follicle stem cells. The company has completed a first-in-human Phase 1 clinical trial that demonstrated seven days of topical dosing with 0.05% PP405 was safe and well-tolerated and showed statistically significant activation of hair follicle stem cells.
The study demonstrated biological activity, proof of mechanism of action seen in preclinical studies, and showed treatment with PP405 stimulated statistically significant activation of a critical hair follicle stem cell activation marker.
Now, with the support of GV, Main Street Advisors and other investors, the company expects to advance to a Phase 2a clinical trial in the second half of this year.
Translational data is slated to be presented at the American Academy of Dermatology meeting in March.
“What we’ve observed is that in people who experience hair loss, the actual hair follicle stem cells are still present but have reverted to a dormant state. We have uncovered a small molecule able to stimulate cellular metabolism to re-awaken hair follicle stem cells and spur new hair growth,” says William Lowry, PhD, scientific co-founder, Pelage Pharmaceuticals, in a news release.
Along with the financing and Phase 1 topline data, Pelage has appointed Qing Yu Christina Weng, MD, as the company’s Chief Medical Officer (CMO). Dr. Weng is a dermatologist at Massachusetts General Hospital and faculty member at Harvard Medical School in Boston. In addition to her clinical expertise, Dr. Weng brings a background in corporate startup strategy and business development.
“The current therapeutic landscape is dominated by reformulations of existing products. Pelage is built on rigorous science and offers the opportunity to target the follicle stem cells directly,” says Dr. Weng. “I am thrilled to work with the Pelage team to advance this discovery in pursuit of a novel non-invasive solution for all people who experience hair loss.”
