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(Alliance News) - PureTech Health PLC on Thursday said its Follica affiliate is planning a pivotal study after positive data in patients with male pattern hair loss.
Shares in biopharmaceutical company PureTech were up 3.5% at 235.00 pence in afternoon trade in London.
PureTech has increased its equity stake in Follica to 77%, in addition to royalties from potential sales. According to its 2018 annual report, PureTech previously held a 62% stake in Follica.
Follica is intended to reverse male pattern hair loss. It creates micro-abrasions which cause new hair follicles to form from skin stem cells. Topical compounds are also applied to enhance this process.
After encouraging interim data from the ongoing optimisation study of Follica's device, involving 20 study participants with male pattern hair loss and showing a visible and statistically significant improvement in visible hair count, Follica intends to progress its programme to a pivotal study starting at the end of 2019. This pivotal study is dependent on continued safety and efficacy in the optimisation study.
Blind head-to-head bench testing of the Follica device has also been encouraging, showing "significant therapeutic advantages in scalp treatment" when compared to commercially available devices.
PureTech Founder & Chief Executive Daphne Zohar said: "Follica is an affiliate that we haven't spoken about as much pending these results, so we are excited to share this positive development as the company prepares to initiate its pivotal study toward the end of this year. The interim analysis showed a robust response to Follica's proprietary treatment and we believe the company is uniquely positioned to potentially address a tremendous need in a large market."