After receiving positive preliminary data for its non-hormonal oral hair regrowth medication, Veradermics has announced oversubscribed $150 million Series C financing.
The financing, led by SR One with participation from top-tier health care and life science investors, is among the largest in recent aesthetic dermatology history. The funding will allow the drug to advance through phase 3 registrational-directed trials and cover its NDA submission.
VDPHL01 is the potential first and only extended-release oral minoxidil for women and men with pattern hair loss — one of the largest aesthetics conditions worldwide — with no new approved prescription therapies in nearly 30 years.
The ongoing phase 2 trial of VDPHL01 in men showed visible and measurable hair growth after as little as two months. If approved, the drug will become the first new therapy for hair regrowth in almost 30 years.