Research company Follicum
takes in 56 million SEK
June 20th - 4th of July 2019
(Subtitle in English)
Hair loss affects millions of men and women worldwide each year
Follicum develops drugs for those suffering from hair loss to help them grow their hair back. The company has now brought on new strategic investors
Hair loss is a well-known problem for countless people worldwide, affecting both women and men. It can lead to mental disorders due to the suffering and insecurity it can cause. We want to help people grow their hair back, explains Jan Alenfall, CEO of Follicum. We do this by developing products for hair loss that are effective and easy to use.
Limited competition in a market worth SEK 54 billion per year exists
The demand for hair loss products is staggering. About half of all men and around 30% of middle-aged women suffer from hair loss.
In 2015, the global market was estimated to be worth $7.3 billion, of which drugs accounted for nearly half. Future forecasts indicate that the market will grow to US $11.8 billion by 2024. If pharmaceuticals make up half of the market, it would be worth USD $5.9 billion (54 billion SEK) a year globally. Additionally, there is a large, unmet need for effective and safe treatments, meaning the potential is substantial. At the moment, there are only two drugs on the market - they often work poorly and can cause severe negative side effects.
For women, common side effects of existing hair loss products include hair growth on fingers and arms while a large percentage of men report reduced sex drives, says Jan Alenfall. Our product, FOL-005, on the other hand, has not shown any negative side effects at all. We therefore hope to develop and provide to the market a drug that is both better and safer than solutions.
– We want to help people
grow their hair back
CEO - Jan Alenfall