Pelage Pharmaceuticals secured $16.75 million in Series A funding to advance PP405, a topical treatment designed to reactivate dormant hair follicle stem cells for androgenetic alopecia. The company reported successful Phase 1 results where the drug met safety endpoints and demonstrated statistically significant stem cell activation after one week of dosing. Pelage plans to initiate a Phase 2a trial in mid-2024 to further evaluate the regenerative therapy.
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