Eli Lilly Joins $26 Million Investment Round in Hair Research Biotech Amplifica
San Diego-based biotech company Amplifica Holdings Group has raised $26 million in Series B funding led by Tasso Partners, with strategic investment from pharmaceutical company Eli Lilly and Company alongside SternAegis Ventures and Falconflight.
Key Deal Facts
- University Roots: Amplifica was started out of the University of California, Irvine (UCI) based on hair follicle biology research led by Dr. Maksim Plikus.
- Use of Funds: The new funding will support ongoing Phase 2 human trials for its lead candidate (AMP-303) and prepare a second compound (AMP-203) for Phase 1 testing.
- Board Addition: Former Allergan aesthetics executive Tom Albright joined Amplifica's Board of Directors as part of the funding round.
Industry Context
Together with Pelage Pharmaceuticals' $120 million Series B (backed by Google Ventures and ARCH Venture Partners) and Veradermics' $472 million funding round, this $26 million deal brings total tracked 2025–2026 investment across the three companies to $618 million. Both San Diego-based Amplifica (UC Irvine) and Los Angeles-based Pelage (UCLA) were started by University of California researchers, while Veradermics (New Haven, CT) went public on the New York Stock Exchange in February 2026. The round also marks a direct investment from a major pharmaceutical company (Eli Lilly) alongside venture capital firms.