Follica

About Follica

Follica, Inc. is a Boston-based biotechnology company, established in 2005, focused on developing a regenerative treatment for androgenetic alopecia, commonly known as pattern hair loss. The company was co-founded by PureTech Health along with a team of prominent dermatology experts, including Dr. George Cotsarelis of the University of Pennsylvania, Dr. Rox Anderson of Harvard, and Dr. Vera Price of UCSF. Dr. Cotsarelis, a pioneer in epithelial stem cell biology, is the lead inventor of the company's core technology, which originated from his discoveries at the University of Pennsylvania relating wound healing to the generation of new hair follicles.

Follica's core business revolves around a drug-device combination therapy designed to address the significant unmet needs in the hair loss market, which affects an estimated 90 million people in the U.S. alone. The business model is centered on a clinically administered procedure rather than an at-home product. The treatment involves a two-step process: first, a proprietary in-office device, the Hair Follicle Neogenesis (HFN) device, creates micro-abrasions on the scalp. This controlled skin disruption is designed to trigger an "embryonic window," stimulating stem cells to form new hair follicles. Following the device-based procedure, which takes only a few minutes, a topical drug is applied to enhance the growth and thickening of the newly formed hair. The company's intellectual property is protected through patents licensed from the University of Pennsylvania and its own internal developments.

The company's primary clients are individuals experiencing male and female pattern hair loss, with the treatment intended to be administered by dermatologists and in specialized hair loss clinics. Follica has progressed through several clinical trial phases. A key safety and optimization study completed in December 2019 showed promising results, with the optimal regimen demonstrating a statistically significant 44% improvement in visible hair count after three months compared to baseline. Following positive feedback from the FDA in an End-of-Phase-2 meeting, the company prepared to advance to a pivotal Phase 3 registration study. Initially planned for 2020, the Phase 3 launch was later anticipated for 2022. The company has secured significant venture capital backing, raising $24.2 million over several funding rounds, including a Series A round in 2008 and a Series B round later that year led by Polaris Venture Partners.