$10M funding for Neosil's dermatologicals from Hercules

Adding a dermatology-focused pharmaceutical company to its portfolio, Hercules Technology Growth Capital, a US specialty finance company providing growth capital to venture capital and private equity backed technology and life science companies, says that, on May 2, it provided $10.0 million of venture debt financing to Neosil.

The latter company is currently developing two dermatological products. First is Neosil's prescriptive hair growth peptide, designed to promote hair growth in patients with androgenetic alopecia. The product has recently completed a Phase IIa clinical trial in Germany and demonstrated statistically-significant increases in terminal hair counts of treated patients. Neosil's second product is a topical antimicrobial treatment, which has shown indications of a broad scope of action, offers opportunities within dermatology, surgery, burn therapy and prevention of bacterial and fungal colonization of the skin.