In 2025, the hair loss market is expected to top US$12 billion. More than ever, people are concerned about their looks, lifestyle and general health.
Dr. Houfar Sekhavat is a renowned ophthalmologist from the Moncton, New Brunswick area. Dr. Sekhavat, who has been losing his hair for several years, is beginning to feel the negative impact of the condition on his life.
After testing all known hair loss treatments (Finasteride, Minoxidil, grafting, etc.), Dr. Sekhavat initiates extensive research on the topic. He reviews national and international scientific literature and approaches specialists from all over the world. He is desperate to find a solution to this problem, which not only affects his appearance but also his self-esteem.
After having developed several experimental compounds, he tests a combination of three molecules recognized for their effectiveness on himself. His efforts finally bear fruit when he applies this topical formula to his scalp every day for four weeks and experiences significant hair regrowth! After three months, his hair is full and healthy. He can’t believe it!
Excited by the impressive results, Dr. Sekhavat contacts a friend and a colleague who were well known in the local scientific community, pharmacologist Dr. Peter Ford and local entrepreneur Donna Steeves. After an NDA is signed, he presents all of his research and discoveries to them. Dr. Ford, the owner of a compounding pharmacy, puts his knowledge, equipment and staff at Dr. Sekhavat’s service and jump starts a more structured research and testing protocol immediately.
The TH-07 therapeutic formula based on the combination of three molecules known for their effectiveness is developed and stabilized. This innovative triple combination therapy offers unparalleled synergistic effectiveness to promote hair regrowth for men with androgenic alopecia. This new formula presents a unique opportunity for the two Moncton scientists.
Houfar and Peter decide to incorporate under the name Triple Hair to carry out a clinical study on the triple therapy for androgenic alopecia. They are looking to develop and commercialize their product worldwide and help millions of men affected by this condition.
Phase II clinical trials are performed in Dieppe (NB) to prove the efficacy of the synergetic effect of three proprietary blend molecules in stopping hair loss, increasing regrowth and making the hair thicker and darker. The results are outstanding, and product performance is far superior to that of the leading products on the market.
Multiple international patent applications are filed.
TH-07: International, Canada, China, USA, Europe, Macau, India
TH-16: Canada, USA, Europe, Hong Kong, China
Dr. Sekhavat and Dr. Ford have meetings with the U.S. Food and Drug Administration (FDA) and Health Canada with this proof of concept.
Triple Hair develops a second combination molecule from a specific proprietary blend of natural health ingredients for topical use and hair regrowth. Multiple clinical trials are run to determine the perfect concentration for this combination. The blend, whose patent is pending, proves to be more effective than Minoxidil 5%, one of the two gold standards in the market. Therapy-16 is a perfect option for people looking to avoid using anything chemical.
At the kickoff session to develop a distribution agreement, Houfar and Peter meet with Jean-Philippe Gravel, then VP Sales and Business Development for the largest group of specialized hair loss centres in Canada. Their connection is immediate, and the founders see Jean-Philippe as a strategic ally who can help them take their business to the next level. A few weeks later, Jean-Philippe is appointed President and CEO of Triple Hair Inc.
In his new role as CEO, Jean-Philippe tackles several major mandates. He opens a first phase of financing to meet the company’s financial needs. Then, he begins recruiting his executive team, a crucial step to help him initiate the strategic work that will bring the products to market as quickly as possible.
A second round of financing is opened to finance preliminary activities and testing ahead of the Phase III Clinical trials for TH-07, starting in late 2021.
Chartered accountant and member of the Ordre des comptables professionnels agréés du Québec Erika Tremblay-Gagnon joins Triple Hair as Chief Financial Officer. She holds a master’s degree in Administration from Université de Sherbrooke and has more than 14 years’ experience in diverse industries.
Satish Asotra, Ph.D., MBA, is appointed Chief Scientific Officer. As a senior executive and strategic leader, he has a proven track record in pharmaceutical development, innovation and process improvement and over 25 years’ experience, including more than 12 years in the development of topical and dermatological products.
Attila Hajdu, M.Sc., MBA, is appointed Vice-President of Business Development. This seasoned leader has more than 20 years’ experience in the global pharmaceutical and biotechnology industry. Over the course of his career, he has held various management positions, primarily in business development, sales, marketing, finance and medical affairs.
Dr. Asotra initiates the appropriate R&D workshops and regulatory work to establish a clear roadmap for the Phase III clinical trials greenlighted by the FDA and Health Canada. To this end, he sets up several working committees to guarantee reliable active ingredient sourcing, stability testing and pharmacokinetic testing.
Strategic alliances to be made with pharma partners to develop and market TH-07 in multiple countries.
Therapy-16, Triple Hair’s all-natural hair growth product line is poised to hit the market through online and partner distribution channels locally and globally.
The Triple Hair team is set to initiate Phase III clinical trials in Canada and the United States for their TH-07 triple combination therapy. The trial will involve double-blinded, randomized, placebo-controlled, parallel-group tests taking place over a year and be conducted in multiple Canadian and U.S. sites.
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