Triple Hair Group, a Montréal, Canada-based company which specializes in the development of innovative treatments for androgenic alopecia, raised $4M in funding.
Backers included Prevail Partners, New Brunswick Innovation Fund and the Québec government, through its Impulsion PME program (biopharmaceutical component), managed by Investissement Québec.
The company intends to use the funds to accelerate its Phase III clinical trials in several countries for its flagship prescription product, Therapy-07.
Led by CEO and President Jean-Philippe Gravel, Triple Hair is a biotechnology company specializing in developing innovative treatments for men and women suffering from alopecia. It aims to provide the underserved market with clinically proven and efficient prescription and over-the-counter treatments for hair regrowth.
The company also sells its drug-free patented products for preventing hair loss and regaining hair density in mild to moderate cases of alopecia under the brands RIZNTMfor men, and Plenty NaturalTM for women. RIZNTMand Plenty NaturalTM allow hair loss sufferers in their early stages to access effective and natural hair growth solutions without a prescription easily.
Commenting on the news, Jean-Philippe Gravel said: “These funds will notably enable us to prepare the Phase III clinical trials planned for Therapy-07. We have Health Canada’s approval to begin our Phase III clinical trials, and awaiting approvals from other jurisdictions, notably the US and Europe. As soon as we receive these approvals, we will proceed to finalize our capital structure and begin clinical trials in several countries.”
FinSMEs
03/06/2024