Veradermics, a Phase 3–ready biotech developing therapies for hair loss, raised $256 million at a market valuation of $606 million.

WHO: New Haven, CT–based company Veradermics Therapeutics was dermatologist-founded in 2019. The biopharmaceutical company is focused on developing an oral, nonhormonal extended-release formulation of minoxidil (VDPHL01) to address male and female pattern hair loss. Its experimental nonhormonal hair loss treatment is in late-stage trials.

DETAILS:

The company’s shares are expected to trade on the New York Stock Exchange under the symbol MANE.

• Veradermics Inc. raised $256.3 million in an upsized US initial public offering priced above the top of its marketed range.
• The company sold about 15 million shares at $17 each and has a market value of about $596 million based on the outstanding shares listed in its filings.
• Filings show Veradermics reported a net loss of $48.1 million for the nine months ended September 30, 2025, compared with a net loss of $20.8 million a year earlier, the filings show.
• Jefferies, Leerink Partners, Citi, and Cantor Fitzgerald acted as joint bookrunners on the deal.