Stubbs Alderton & Markiles client Pelage Pharmaceuticals, a clinical-stage regenerative medicine company, secured a $14 million Series A-1 led by GV (Google Ventures), with support from Main Street Advisors, Visionary Ventures, and YK BioVentures. The Series A-1 raise follows a $16.75 million Series A round. The latest financing follows positive Phase 1 study results for PP405, Pelage's novel topical small molecule treatment for androgenetic alopecia (pattern baldness).
Cathy Friedman, Executive Venture Partner at GV and Board Director at Pelage Pharmaceuticals, expressed confidence in the company's approach: "GV is encouraged by Pelage's prior Phase 1 data readouts and robust clinical safety profile. We believe the expert team at Pelage is well-positioned to advance this novel and innovative hair loss research, providing a potential alternative to existing treatments that simply slow hair loss.”
This news underscores the potential of Pelage Pharmaceuticals' technology and the growing interest from major investors in pioneering regenerative medicine solutions for common health concerns like hair loss. SA&M attorneys advising Pelage Pharmaceuticals on the transaction included Kevin DeBré, Louis Wharton, Simon Leefatt, and Durdana Karim.
