ARCH Venture Partners and GV led a $120m Series B round in Pelage Pharmaceuticals.

ARCH Venture Partners and GV, a venture capital firms, led a $120m Series B round in Pelage Pharmaceuticals, a clinical-stage regenerative medicine biotechnology company, with participation from Main Street Advisors, Visionary Ventures, and YK Bioventures. “At Pelage, our goal is to deliver a clinically-tested treatment to combat hair loss, grounded in innovative science. Despite the growing need for treatments for hair loss, which affects more than 80% of men and 40% of women throughout their lifetimes, innovation has been lacking, and a new FDA-approved option has not become available for decades,” Daniel Gil, Pelage Pharmaceuticals CEO.