Follica Inc., is a privately held company that develops treatments for androgenetic alopecia (male or female pattern baldness) and other hair loss and follicle disorders, including severe acne. Today, the company announced that it has received $11 million in Series B financing, led by Polaris Venture Partners along with previous investors InterWest Partners and PureTech Ventures.
In addition to financing, the company will bring on several new board members and other team members.
“Polaris is thrilled to join PureTech and InterWest in helping to build Follica,” said Dr. Kevin Bitterman, a new Follica board member representing Polaris Venture Partners. “The cutting-edge biology on which the company was founded allows Follica to address hair loss and multiple other conditions with an entirely novel mechanism of action.”
Last year, Follica used licensed technology from the University of Pennsylvania to generate new hair follicles. It was the first time new hair follicles have been successfully generated in normal adult mammals. Read more ›