Uncategorized
STAT+: Eli Lilly dives into hair loss treatments with investment in AI startup Absci
The pharmaceutical giants behind the monumentally successful weight loss drugs Wegovy and Mounjaro have been teasing an expansion into other aesthetic fields like hair loss or skin care.
Now, one of them is making a move, investing in a small startup developing a medication to spur hair growth, and potentially also treat endometriosis.
On Wednesday, Absci announced that it raised $100 million from a group led by Eli Lilly. Lilly brought the lion’s share of the funding, handing over $40 million in exchange for equity in Absci, which is publicly traded on the Nasdaq.