SAN DIEGO, CA – Amplifica Holdings Group, Inc. (“Amplifica”), a privately-held, clinical-stage biopharmaceutical company announced it successfully closed an $11.8 million Series A Preferred Stock financing. The company intends to use the funds to advance the development of its proprietary compounds for the treatment of androgenic alopecia (hair loss) in both male and female patients.
“The investor participation in this financing round exceeded our Series A target, highlighting the unmet need in the marketplace for a solution to the challenge of hair loss, as well as the excitement for Amplifica’s novel approach and first-in-class therapies to address this problem,” remarked Frank Fazio, President and CEO. “Our team is acutely focused on advancing Amplifica’s clinical development program for its lead product candidates AMP-303 and AMP-506 with the expectation to initiate our first clinical program in fiscal year 2023.”
For the millions of people who suffer from androgenic alopecia, their normal hair growth cycle is shut down due to signaling changes that cause hair follicles to become dormant and unable to enter back into the growth phase. Importantly, in androgenic alopecia, the hair follicle stem cells remain intact. Based on novel discoveries and extensive pre-clinical data generated by Amplifica’s team, the company has identified propriety signaling molecules that stimulate dormant hair follicle stem cells and ultimately the active regrowth of hairs. Amplifica’s nature-inspired, scientific approach to hair loss has potential to finally yield solutions to a frustrating issue that affects approximately 50 million men and 30 million women in the U.S. according to the National Institutes of Health¹.
“Our research efforts to understand the biology of hair follicle stem cells and the mechanism of hair growth provide a strong foundation to advance the development of AMP-303 and AMP-506. We are also excited to advance other proprietary pipeline products that expand upon our research in hair biology,” commented Maksim Plikus PhD, the company’s Chief Scientific Officer and professor of Developmental and Cell Biology at the University of California, Irvine. “The opportunity to transition from early-stage research to a well-defined clinical development program represents a significant step forward for Amplifica.”
The Series A financing was facilitated by SternAegis Ventures, the private equity and venture capital division of Aegis Capital Corporation. SternAegis partners with entrepreneurs and early-stage companies to bring ideas to life, endeavoring to create brands with long-term investment value.
About Amplifica Holdings Group, Inc.
Amplifica is a rapidly emerging biopharmaceutical company focused on developing novel treatments to address androgenic alopecia (hair loss), a condition estimated to affect over 50 million men and over 30 million women in the United States alone. The Company is taking a nature-inspired scientific approach using a molecular mechanism that regrows natural hair. The Company has identified and isolated unique signaling molecules that stimulate hair follicles to regrow hair. Amplifica will be initiating clinical trials to evaluate the safety and efficacy of its core technology as well as obtaining all applicable regulatory approvals.
For more information, please visit https://amplificabio.com.
Amplifica Holdings Group, Inc.
President & CEO