Objective: This study aims to improve the hair-growing effect of bovine placenta extract (PE) by loading it to a novasome vesicle. Methods: PE-loaded novasome was prepared by thin layer hydration method. A 23 full factorial design was used to obtain the most optimum formula by varying the type of surfactants, the type of free fatty acid (FFA), and the ratio of surfactants and FFA. The resulting PE-loaded novasomes were characterized by entrapment efficiency (%EE), particle size (PS), polydispersity index (PDI), and zeta potential (ZP). Results: PE-loaded novasome composed of Span 60: cholesterol: oleic acid (10:10:3) demonstrated the most optimum characteristics with PS 155.0 nm; PDI 0.139; ZP-63.73 and EE 79.60%. Transmission electron microscopy (TEM) of the most optimum novasome revealed non-aggregating oligo-lamellar nanovesicles. In addition, novasome showed ultra-deformable properties and good stability during 90 d storage at 4 °C. A hair growth study in rats showed that the PE-loaded novasome demonstrated better hair-growing effect compared to PE-loaded liposome and minoxidil 2% solution. Conclusion: Novasome is a potential carrier for bringing such a big molecule as PE. PE-loaded in novasome showed vesicles with good physical characteristics and In vivo assessment demonstrated better hair-growing effect than minoxidil and PE-loaded liposomes. © 2023 The Authors. Published by Innovare Academic Sciences Pvt Ltd.