Amplifica, a clinical-stage biopharmaceutical company, raised $11.8 million in Series A funding to further the development of treatments for hair loss.
WHO: San Diego-based Amplifica is a biopharmaceutical company focused on developing novel treatments to address androgenic alopecia (hair loss), a condition estimated to affect over 50 million men and over 30 million women in the United States alone. The company takes a nature-inspired scientific approach and has identified propriety signaling molecules that stimulate dormant hair follicle stem cells and, ultimately, active regrowth of hairs.
WHY: The company is focused on advancing the clinical development program for its lead product candidates AMP-303 and AMP-506 for the treatment of hair loss in both male and female patients, with the expectation to initiate the first clinical program in fiscal year 2023.
IN THEIR OWN WORDS: "The investor participation in this financing round exceeded our Series A target, highlighting the unmet need in the marketplace for a solution to the challenge of hair loss, as well as the excitement for Amplifica's novel approach and first-in-class therapies to address this problem," said Frank Fazio, President and CEO. "Our team is acutely focused on advancing Amplifica's clinical development program for its lead product candidates AMP-303 and AMP-506 with the expectation to initiate our first clinical program in fiscal year 2023."
"Our research efforts to understand the biology of hair follicle stem cells and the mechanism of hair growth provide a strong foundation to advance the development of AMP-303 and AMP-506. We are also excited to advance other proprietary pipeline products that expand upon our research in hair biology," commented Maksim Plikus PhD, the company's Chief Scientific Officer and professor of Developmental and Cell Biology at the University of California, Irvine. "The opportunity to transition from early-stage research to a well-defined clinical development program represents a significant step forward for Amplifica."
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