Amplifica Holdings Group, Inc., a San Diego-based, privately owned, clinical-stage biopharmaceutical company, announced in late October the successful closing of an $11.8 million Series A. The company intends to use the funds to advance the development of its proprietary compounds. for the treatment of androgenic alopecia (hair loss) in male and female patients from preclinical studies to clinical trials.
“Investor participation in this funding round exceeded our Series A target, highlighting the unmet need in the market for a solution to the hair loss challenge, as well as enthusiasm for Amplifica’s novel approach and therapeutics. first class to address this issue. problem,” said Frank Fazio, president and chief executive officer.
“Our team is highly focused on advancing Amplifica’s clinical development program for its lead product candidates AMP-303 and AMP-506 with the expectation of starting our first clinical program in fiscal year 2023,” added Fazio.
Trouble for millions
For the millions of people who suffer from androgenetic alopecia, their normal hair growth cycle is disrupted due to signaling changes that cause hair follicles to become dormant and unable to return to the growth phase.
In androgenetic alopecia, the stem cells of the hair follicle remain intact. Based on new discoveries and extensive preclinical data generated by the Amplifica team, the company identified suitable signaling molecules that stimulate dormant hair follicle stem cells and, ultimately, active hair regrowth.
Fazio said Amplifica’s nature-inspired scientific approach to hair loss has the potential to finally provide solutions to a frustrating problem that affects an estimated 50 million men and 30 million women in the US according to the National Institutes of health.
According to industry experts, by 2025, the market for hair loss products is expected to exceed $12 billion.
“Our research efforts to understand the biology of hair follicle stem cells and the mechanism of hair growth provide a strong foundation for advancing the development of AMP-303 and AMP-506,” said Maksim Plikus PhD, Chief Scientific Officer of the company and professor of cell and developmental biology at the University of California, Irvine. “We are also excited to advance other proprietary pipeline products that further our research in hair biology.”
“The opportunity to move from early-stage research to a well-defined clinical development program represents an important step forward for Amplifica,” added Plikus.
Dr. Plikus, who founded the company, began studying hairy human moles in 2013. Working with colleagues at UC Irvine, Plikus’s work eventually showed promise for treating hair loss by replicating mole cells. hairy to stimulate hair growth.
Following the successful competition of the Series A funding round, Amplifica will initiate clinical trials to assess the safety and efficacy of its core technology, as well as to obtain all applicable regulatory approvals.
The Series A financing was facilitated by SternAegis Ventures, the private equity and venture capital division of Aegis Capital Corporation. SternAegis partners with entrepreneurs and early-stage companies to bring ideas to life, striving to create brands with long-term investment value.
amplify Group of shares
CEO: Frank Fazio
VENUE: San Diego
EMPLOYEES: Less than 10
NOTE: There are currently only two FDA-approved medications on the market for androgenetic alopecia.