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VEL502 is a topical formulation of the Janus kinase (JAK) inhibitor tofacitinib, originally developed by Veloce Bio for the treatment of dermatological conditions, primarily alopecia areata. The drug functions by inhibiting the JAK1 and JAK3 enzymes, which are critical components of the signaling pathways for several pro-inflammatory cytokines involved in the autoimmune destruction of hair follicles. By blocking these pathways, VEL502 aims to reduce local inflammation and promote hair regrowth. The formulation was designed with a proprietary delivery system intended to enhance the penetration of the active ingredient into the skin and hair follicles while minimizing systemic exposure and associated side effects. Although the program reached Phase 2 clinical trials, development appears to have been discontinued following the cessation of Veloce Bio's operations.
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