Amplifica Holdings Group has raised an oversubscribed $26 million Series B financing to advance its pipeline of injectable therapies designed to reactivate dormant hair follicles and promote new hair growth. The financing was led by Tasso Partners, with participation from Eli Lilly and Company, principals of Scopia Capital Management and other new and existing investors.
Amplifica plans to use the proceeds primarily to advance clinical development of its injectable product candidates for androgenetic alopecia.
The clinical-stage biotechnology company is developing therapies based on signaling molecules involved in regulation of the hair follicle growth cycle.
Amplifica’s approach is intended to stimulate dormant follicles and promote new hair growth, rather than primarily slowing or preventing additional hair loss.
The company has developed a proprietary portfolio of signaling molecules designed to activate follicle regeneration through multiple mechanisms of action.
Amplifica plans to advance multiple mechanisms in parallel as it evaluates potential approaches for treating hair loss in both men and women.
Androgenetic alopecia affects an estimated 50 million men and 30 million women in the U.S.
Existing treatments include finasteride and minoxidil, which generally require continued use.
Amplifica believes limitations involving efficacy, tolerability, patient adherence and applicability across different patient populations create an opportunity for new therapeutic approaches.
The company is now moving into its next stage of clinical development, with its financing focused on progressing its injectable pipeline.
Amplifica ultimately plans to conduct clinical trials assessing the safety and effectiveness of its technologies and pursue applicable regulatory approvals.
KEY QUOTES:
“Closing this oversubscribed round reflects strong investor conviction in the science behind our injectable approach and in the size of the opportunity it addresses. This capital allows us to accelerate our mission to deliver next-generation products to patients confronting the physical and emotional challenges of hair loss.”
Frank Fazio, President And CEO Of Amplifica
“Amplifica has built a proprietary portfolio of signaling molecules that regulate the hair follicle growth cycle, and this financing advances them further into clinical development. Our discovery platform has yielded candidates that activate follicle regeneration through distinct, complementary mechanisms of action. Advancing multiple mechanisms in parallel maximizes our probability of clinical success and reinforces our leadership in hair regeneration for men and women.”
Wajdie Ahmad, Co-Founder And Executive Chairman Of Amplifica
