Follicum AB announced it has received approval from the German Medicines Agency (BfArM) and German Ethics Committee to commence a Phase IIa clinical trial in Germany with its lead candidate FOL-005 on patients with Alopecia (hair loss). The trial will include approximately 60 patients and be run in collaboration with the Clinical Research Center for Hair and Skin Science in Berlin and bioskin, Hamburg, Germany. Currently there are no effective products available for men and women in what is estimated to be a global market worth $3 billion. Furthermore, the drug products available have unwanted side-effects that limits their use. FOL-005 is a modified version of the endogenous protein, osteopontin and previously in a clinical study was shown to be effective in stimulating hair growth without side effects. The Phase IIa study aims to investigate the effect and response of the drug candidate FOL-005, on the scalp with injections. Treatment will be performed on two surfaces of the scalp where different doses of FOL-005 or placebo will be administered. The study is expected to be completed in 2018, with results communicated in the same year.