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Pelage Pharmaceuticals has raised nearly $17 million in a series A funding round to develop a small-molecule treatment for alopecia and other types of hair loss. The Los Angeles–based biotechnology firm is based on research done at the University of California, Los Angeles. Pelage says it has developed a first-in-class therapy that can be applied topically to reactivate hair follicle stem cells. The molecule was tolerable and showed signs of effectiveness in Phase 1 studies. Pelage expects to begin a Phase 2a trial later this year.
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