Amplifica Holdings Group has closed an $11.8 million aeries A preferred stock financing, which will be used to advance the development of its proprietary compounds for the treatment of androgenic alopecia (hair loss) in both male and female patients.
The series A financing was facilitated by SternAegis Ventures, the private equity and venture capital division of Aegis Capital Corporation.
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Based on discoveries and pre-clinical data generated by Amplifica's team, the company has identified propriety signaling molecules that stimulate dormant hair follicle stem cells and ultimately the active regrowth of hairs.
The series A financing was facilitated by SternAegis Ventures, the private equity and venture capital division of Aegis Capital Corporation.
Frank Fazio, president and CEO, said, "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. 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."
Maksim Plikus, Ph.D., the company's chief scientific officer and professor of developmental and dell biology at the University of California, Irvine, said, "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. The opportunity to transition from early-stage research to a well-defined clinical development program represents a significant step forward for Amplifica."