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Histogen, a San Diego company with 25 employees, has raised $39 million from investors and $20 million in licensing fees as it seeks to develop a hair-growth drug.

“For a company like ours to spend millions of dollars on clinical trials, there has to be some assurance we can recoup those costs,” said Richard Pasco, Histogen’s chairman and chief executive.

What Histogen wants to inject in you are extracts from “neonatal cells grown under simulated embryonic conditions.”

Like Histogen, RepliCel’s consumer product would be an injectable.

The San Diego company Histogen has been around since 2007, making it a veteran in this inchoate field.