Q-Stem is a biotechnology startup founded by City University of Hong Kong professor Ban Ki-won that applies hiPSC technology to combat hair loss. The company isolates dermal papilla cells differentiated from hiPSCs, then extracts and commercializes the growth factors these cells secrete, which are critical to hair follicle regeneration and maintenance. Research cited by the firm links reduced growth-factor secretion from aging papilla cells to alopecia, underpinning Q-Stem’s product rationale. It has already established a mass-production process for papilla cell culture fluid and is conducting parallel safety assessments. Commercial rollout will begin with functional cosmetics produced through contract manufacturing, with plans to build in-house production capabilities later. The roadmap also includes co-development and testing with domestic and international manufacturers and an expanded product lineup for broader hair-loss solutions. The KRW 2.2 billion seed financing provides the capital to refine its papilla-cell-derived raw-material platform and accelerate these commercialization efforts.

Total raised

$2M

Funding rounds

1

Latest round

Seed

Latest activity

Feb 2026