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Follicum pauses all of its development projects

Jan Alenfall
Following results from a phase 2 study of FOL-005, for the treatment of hair loss, the Board of the company decided to evaluate the company's business strategy and long-term goals. The board of Follicum has now estimated that the company, in its current situation, will have difficulties in attracting financing for further operations of the FOL-005 project, and also not for other projects, considering the projects' status, the company's estimated value and also due to lack of own adequate personnel resources, it states. In addition, the board estimates that the possibility to enter any kind of deal with an industrial partner in the near future is small. Follicum develops pharmaceuticals against hair loss and diabetes complications, and it also evaluates opportunities to utilize its tissue repairing peptides and formulation technology within other disease areas. Significant challenges In order to make the most of the values there are within the company's projects the board is now considering different structural possibilities, like merger, acquisition or selling the company. "Follicum is facing significant challenges. At first hand we need to create conditions and an enough time to in the best possible way protect the value/the assets within the company's project portfolio," says Chairman of the Board, Gun-Britt Fransson. Photo of Jan Alenfall, CSO, Follicum
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