New Hair Loss Treatments Advance, aiming to Bypass Risks of Existing Drugs
NEW YORK – November 29, 2023 – Two companies, Pelage adn Veradermics, are poised to enter Phase III clinical trials with novel hair loss treatments, fueled by recent funding rounds and a growing market for solutions to androgenetic alopecia. The developments come as concerns linger over the safety profiles of existing medications like oral finasteride and topical minoxidil.
Hair loss affects millions, impacting both physical and mental well-being. Current treatments offer limited efficacy or carry potential side effects,driving demand for new options. Oral finasteride, sometimes prescribed off-label, has been linked to cardiac issues, while high doses of topical minoxidil can lead to an irregular heartbeat. A recent report published in The Journal of Clinical Psychiatry in September raised concerns about an increased risk of depression and suicide in men taking finasteride.
Pelage is developing PP405, a topical formulation designed to minimize systemic absorption. According to Pelage’s CEO, Dr.Adam Gil, clinical trials demonstrated drug concentrations in the skin were a thousand times higher than in the bloodstream, resulting in “a clean systemic safety profile.” Veradermics is also advancing multiple trial assets, anticipating data readouts in 2026.
“Having options is always critically important,” said Dina Strachan, a New York City board-certified dermatologist, in an email to BioSpace.”The efficacy, side effects, and acceptability of any treatment can vary-even issues like frequency of dosing and delivery can determine whether something is an option.”
Both companies are capitalizing on the growing “cash-pay” market for hair loss solutions, a space described by investor Josh Waldman as “an exciting space to develop” due to “grate latent demand.” Pelage plans to initiate its U.S. Phase III trial for PP405 next year.
