Veradermics Secures $150M Series C to Advance Oral Hair Regrowth Therapy
Connecticut-based biotech Veradermics has raised $150 million in an oversubscribed Series C funding round to advance its oral hair regrowth therapy, VDPHL01, through late-stage clinical development and regulatory submission. The funding comes just a day after fellow hair restoration biotech Pelage Pharmaceuticals announced a $120 million Series B round for its topical hair regrowth therapy, highlighting growing investor interest in the hair loss treatment market.
Veradermics’ lead candidate, VDPHL01, is currently in Phase III clinical trials and represents a potential first-in-class extended-release oral formulation of minoxidil, a vasodilator widely used in topical form to treat androgenetic alopecia, also known as pattern hair loss. Unlike existing topical solutions, Veradermics claims VDPHL01 delivers sustained exposure of hair follicles to minoxidil through a once- or twice-daily oral dosing regimen, which may offer more consistent hair regrowth Veradermics and improved patient adherence.
The Series C proceeds will support multiple ongoing Phase III studies for VDPHL01 as well as preparations for a new drug application (NDA) submission with the U.S. Food and Drug Administration (FDA). While the company has not yet specified a target submission timeline, the funding is expected to accelerate the pathway toward regulatory approval.
Pattern hair loss affects an estimated 80 million people in the United States alone, making it one of the largest and most common aesthetic conditions. Despite the high prevalence, the FDA has not approved a new oral treatment for hair loss in nearly three decades. Currently, minoxidil is the only FDA-approved therapy for promoting hair regrowth in men and women, typically applied topically in liquid or foam formulations.
Veradermics’ CEO emphasized the innovative potential of VDPHL01, stating that the extended-release oral formulation is intended to provide “fast, consistent, and intense hair growth” by maintaining steady levels of minoxidil at the follicular level. The company argues that its approach could overcome some of the limitations of topical minoxidil, such as inconsistent absorption, daily application burdens, and variable efficacy.
Supporting these claims, Veradermics also released preliminary Phase II results for VDPHL01 on Thursday. The mid-stage trial evaluated twice-daily oral dosing over two months and followed patients for an additional four months. According to the company, participants experienced a notable increase in the number of thickened, normally pigmented hairs within the first two months. Hair growth improvements continued through the four-month follow-up period, with 95% of patients reporting greater satisfaction with their hair coverage.
Safety data from the Phase II trial were encouraging. Veradermics reported that VDPHL01 was well-tolerated, with no serious adverse events or cardiac complications observed. This is significant because earlier oral minoxidil formulations, initially developed in the 1970s for hypertension, had been associated with side effects such as hypertrichosis—unwanted or abnormal hair growth in unintended areas—and potential cardiovascular concerns. The extended-release design of VDPHL01 aims to mitigate these risks while maintaining efficacy.
Veradermics’ announcement underscores a broader trend in the hair restoration space, where investors are increasingly willing to back innovative therapeutics that go beyond traditional topical approaches. Pelage Pharmaceuticals, for instance, raised $120 million in a Series B round just one day prior for its topical hair regrowth treatment, PP405. Pelage plans to advance its product into Phase III trials in 2026, reflecting a parallel surge in late-stage clinical activity within the hair loss sector.
The renewed investor interest in hair restoration treatments reflects both the sizable market opportunity and the long-standing unmet needs for more effective, convenient, and safe therapies. With nearly three decades passing since the last FDA approval of a hair loss therapy, new entrants such as Veradermics and Pelage aim to modernize treatment options and capture a significant share of a growing market.
Veradermics’ Series C round will not only fund the completion of pivotal Phase III studies but also support the company in scaling its operational infrastructure, preparing regulatory filings, and potentially expanding its clinical development programs to include broader patient populations. By focusing on an oral, extended-release formulation of minoxidil, Veradermics seeks to provide an alternative to the traditional topical route, which can be inconvenient and messy for patients.
In conclusion, Veradermics’ $150 million Series C financing marks a major milestone for the company and underscores increasing investor confidence in next-generation hair regrowth therapies. As VDPHL01 advances through Phase III trials and moves toward potential FDA approval, the therapy could offer patients a novel and more convenient approach to treating pattern hair loss, while also signaling a revitalization of innovation within a long-stagnant therapeutic area.
