Hair loss cure related funding is starting to boom. Most encouraging of all, China is finally joining the fray with new companies such as Hope Medicine and Kintor Pharmaceutical.
Please read this entire post for a history of Hope Medicine and Bayer’s HMI-115, which targets the prolactin receptor to cure hair loss.
Update: November 28, 2021
New CEO Henri Doods Interview
A reader sent me the below screenshot of Hope Medicine CEO Henri Doods’ Chinese magazine (page 17) interview that I mentioned earlier. If anyone can translate into English, please post in the comments. Click on the image to expand.
Update: September 20, 2021
Reader “Karl” just notified us that there is a brand new cover page interview of Hope Medicine’s CEO Dr. Henri Doods in a Chinese magazine “tradetree.cn”. If anyone can gain access to it (see here) and translate into English, please try. Not worth purchasing as yet in my opinion.
Per Karl, Phase 2 clinical trials for hair loss product HMI-115 are planned for Q4 2021 (but no proof anywhere else). This matches what we expected per the prior updates that I discussed in May (see further below). Note that HMI-115 is the same as Bayer’s prolactin receptor antibody. Hope Medicine has the rights to the development of this product.
May 9, 2021
Hope Medicine (China) Raises $56 Million
Until now, Kintor Pharmaceutical (China) was the main reason for the excitement. However, this weekend, the participants on this site’s hair loss chat are discussing Hope Medicine. Out of the blue, this startup company received $56 million in a Series B round of financing. Investment firms Qiming Venture Partners and Grand Flight Investment led the way.
Other investors include: HighLight Capital; Sinovation Ventures (a venture capital firm led by former Google China head Kai-Fu Lee); and Trustbridge. More here.
Phase 2 Trials for HMI-115 (Bayer License) in 2021:
“Previously, HopeMed signed an exclusive license agreement with Bayer AG on the development and commercialization of a human antibody (HMI-115) targeting the prolactin (PRL) receptor for the treatment of male and female pattern hair loss. At present, HMI-115 has completed phase I clinical trials in the European Union, with positive safety results. The global multi-center phase II clinical trials for androgenic alopecia and will soon be launched.“
Note that I first covered Hope Medicine in my 2019 post on its partnership with Bayer in regards to the prolactin receptor. The company was founded by Dr. Rui-Ping Xiao, the dean of the College of Future Technology of Peking University. Apparently, she is also an associate editor of the New England Journal of Medicine. Update: See this page for much more on Dr. Xiao Ruiping.
The most unusual part of this story is that Hope Medicine’s official website (hopemedinc.com) has not worked for weeks. I have e-mailed several of their employees, and will update this post if I get any response.
Increasing Hair Loss Company Funding
- This latest news comes just one month after we heard that Aneira Pharma received $25 million from Valkyrie Group.
- South Korea’s Han Bio also seems to have received enough funding to open its new dermal papilla storage plant in May 2021.
- In September 2020, Stemson Therapeutics received $7.5 in additional funding.