Triple Hair Group Closes $4 Million Financing
Summary
MONTR\xc9AL, June 03, 2024 (GLOBE NEWSWIRE) -- Triple Hair Group Inc. (Triple Hair or the Company), a company specializing in the development of innovative treatments for androgenic alopecia, is pleased to announce that it has closed a $4 million financing with a group of investors.The main investors are Prevail Partners, New Brunswick Innovation Fund and the Qu\xe9bec government, through its Impulsion PME program (biopharmaceutical component), managed by Investissement Qu\xe9bec.This financing is a first step in the evolution of Triple Hairs capital structure leading to the execution of Phase III clinical trials in several countries for the Companys flagship prescription product, Therapy-07. As soon as we receive these approvals, we will proceed to finalize our capital structure and begin clinical trials in several countries.Triple Hairs ingenious approach to alopecia is inspiring, and promises to improve the lives of many. With Impulsion PME, Investissement Qu\xe9bec has added another string to its financial bow, supporting entrepreneurs at critical moments in their history and giving them the impetus they need to pursue their development.According to a report published by Grand View Research, Inc. alopecia is an underserved global market valued at US$8.8 billion in 2023, and expected to reach US$16 billion by 2030.Triple Hair Group Inc. is a Canadian biotechnology company specializing in developing innovative treatments for men and women suffering from alopecia. Forward-looking information may relate to the Companys future outlook and anticipated events, business, operations, financial performance, financial condition or results and, in some cases, can be identified by terminology such as may; will; should; expect; plan; anticipate; believe; intend; estimate; predict; potential; continue; foresee, ensure or other similar expressions concerning matters that are not historical facts. Forward-looking information is also subject to certain factors, including risks and uncertainties that could cause actual results to differ materially from what the Company currently expects.