Pelage Pharmaceuticals Raises $120M to Advance Hair Loss Regenerative Therapy to Phase 3 Trials
Pelage Pharmaceuticals has secured $120 million in Series B financing co-led by ARCH Venture Partners and Google Ventures, with participation from other notable investors1246.
The funding will support the initiation of Phase 3 clinical trials of Pelage's lead candidate, PP405, a topical, non-invasive small molecule designed to reactivate dormant hair follicle stem cells and promote new hair growth in both men and women with androgenetic alopecia1242.
PP405 offers a novel regenerative medicine approach by directly targeting hair follicle stem cells, differing from current treatments (minoxidil, finasteride), which address secondary processes like hormones12.
In a Phase 2a trial enrolling 78 men and women, PP405 met its primary safety endpoint and showed that 31% of treated participants achieved a more than 20% increase in hair density, compared to 0% in the placebo group, with effects observed within eight weeks—much faster than conventional therapies21112.
No significant systemic absorption of the drug was observed in trial participants, supporting its safety profile2.
If successful, PP405 could become the first new FDA-approved hair loss therapy in decades and is generating significant anticipation within the field and on social media12.
Sources:
2. https://www.biospace.com/business/pelage-pharmaceuticals-raises-120-million-to-grow-hair-loss-program
4. https://www.hairlosscure2020.com/pelage-pharmaceuticals-clinical-trials/
6. https://www.businesswire.com/news/home/20251013938906/en/Pelage-Pharmaceuticals-Announces-$120-Million-Series-B-Financing-to-Advance-Regenerative-Medicine-Treatments-for-Hair-Loss
11. https://www.dermatologytimes.com/view/pelage-s-pp405-demonstrates-efficacy-in-phase-2a-trial-for-androgenetic-alopecia
12. https://wiky.com/2025/10/15/pelage-pharma-raises-120-million-to-advance-development-of-hair-loss-treatment/