Pelage Pharmaceuticals Raises $120 Million Series B for Hair Growth Treatment

Pelage Pharmaceuticals, a Los Angeles-based biotech firm specializing in regenerative medicine, has successfully raised $120 million in a Series B funding round. The round was co-led by ARCH Venture Partners and Google Ventures, with participation from Main Street Advisors, Visionary Ventures and YK Bioventures.

The funds will be directed toward advancing clinical development of PP405, the company’s leading program – a topical small molecule aimed at reactivating dormant hair follicle stem cells. This breakthrough could yield a first-in-class treatment for hair loss in both men and women.

CEO Daniel Gil emphasized the company’s mission to provide a scientifically validated solution for hair loss, a condition affecting over 80% of men and 40% of women at some point in their lives. "Innovation has remained stagnant for decades, with no new FDA-approved treatments in many years," he said.

Pelage's therapy is based on the unique discovery that hair follicle stem cells have a metabolic switch that can be reactivated to stimulate hair regrowth. The new investment will kick-start Phase 3 clinical trials for PP405, which are anticipated to commence in 2026.

As part of the Series B round, Cathy Friedman, who led the Series A financing, has been appointed chair of the board of directors. Richard Heyman, a venture partner at ARCH Venture Partners, will also join the board, alongside Gil and William Lowry, co-founder and president of Pelage. “Pelage is a pioneer in the regenerative medicine field,” Friedman said. “Their scientific approach sets them apart from existing therapies and addresses a significant unmet medical need, especially for women.”

Sourced from Pelage Pharmaceuticals.

Odys Aviation Raises $26 Million Series A for Hybrid-Electric VTOL Aircraft

Long Beach-based Odys Aviation has raised $26 million in Series A funding, led by Nova Threshold, with contributions from Tuchen Ventures and key insider investors. This investment will accelerate full-scale flight testing of the company's hybrid-electric vertical takeoff and landing (VTOL) aircraft, the Laila, and aid in expanding engineering and operations teams ahead of a global commercial launch slated for early 2026.

CEO James Dorris described the funding as a "major inflection point" for Odys, highlighting the company’s proven performance and efficiency of its hybrid-electric VTOL technology. "Now, we’re focused on scaling operations and building the advanced air mobility ecosystem that will connect regions in transformative new ways," he said.

Over the last two years, Odys has achieved several key technical milestones, including integrating its hybrid propulsion system and making certification progress under the JARUS/SORA 2.5 framework. The upcoming flight test campaign aims to validate full-scale flight performance and autonomy systems, paving the way for commercial demonstrations in 2026.

Justin Hamilton, managing director at Nova Threshold, noted, “Odys is well-positioned to meet the growing demand for sustainable, long-range regional air mobility.”

Sourced from Odys Aviation.

Planyear Raises $12 Million Seed Round for Benefits Consulting Platform

Irvine-based Planyear, an AI platform designed for benefits consultants, has raised $12 million in seed funding, led by True Ventures. The funding will support the development of the Beacon platform, which automates 70% of administrative tasks typically burdening consultants, allowing them to prioritize strategic guidance and client relationships.

Founded by industry veterans, Planyear combines AI with extensive benefits expertise to streamline document processing, answer employee questions, standardize census data and manage other renewal workflows.

“Benefits consultants enter this field to help people, not to get bogged down in manual tasks,” said CEO Tariq Hilaly.

The company is already partnered with six of the top 10 brokerage firms and plans to enhance its platform capabilities while also growing its sales and AI development teams.

Source: Planyear

-David Nusbaum