Hair-loss firm Follica nets $5.5M in funding round.
05 Jan 2008, by in HAIR LOSS SCIENCEA new startup devoted to treating hair loss in men and women has secured $5.5 million in first-round venture funding.
Follica Inc. in Boston attracted funding from Interwest Partners and existing investor and co-founder PureTech Ventures.
Follica plans to use the money to fund a clinical proof-of-concept study. The medical device company believes its technology can treat androgenetic alopecia, which is a form of male and female pattern hair loss that occurs on some men and women.
Follica’s technology, licensed from the University of Pennsylvania School of Medicine, is intended to generate new hair follicles.
Follica co-founder Dr. Rox Anderson will serve as the company’s scientific advisory board chairman. He is a professor of dermatology at Harvard Medical School and director of the Wellman Center for Photomedicine at Massachusetts General Hospital.
Anderson is also credited with advancing the science in laser hair removal.
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