This study is led by Professor Rodney Sinclair and included 12 male and 4 female patients in Australia with androgenic alopecia (AGA). HMI-115 demonstrated positive efficacy results. It is also safe and well-tolerated. Specifically, in the 12 male patients at the end of the trial, the mean non-vellus target area hair count (TAHC) increased by 14 hairs/cm², compared to that of the baseline. This increase is statistically significant indicating an apparent confidence of treatment effect.

"The positive outcome of this trial is very encouraging," said Professor Rui-Ping Xiao, founder of Hope Medicine, "this study is the first ever to show that prolactin receptor blockade can promote hair growth in patients with androgenic alopecia and may provide a novel therapeutic approach."

"Encouraged by the success of this proof-of-concept trial," said Nathan Chen, CEO, "Hope Medicine has commenced recruitment for a Phase II study of AGA in China with 180 patients. We aim to achieve full PoC by the end of 2024."