CsA would not be suitable as a baldness treatment due to its other well-known side-effects - however the researchers found that another drug, created to treat osteoporosis was even more effective at enhancing hair growth.
However, Finasteride only works for men and along with Minoxidil comes with side effects, doesn't always work and is not now available through a doctor.
Exploring other possible options, Hawkshaw and his colleagues discovered that the drug WAY-316606 reduces expression of a protein called SFRP1.
The team was working with a new drug and found it reduced the expression of a protein which inhibits the development and tissue growth.
A drug originally developed to fight brittle bone disease could have unlocked a cure for baldness.
The next step, Dr Hawkshaw states, is for a clinical trial to be undertaken so it can be determined whether or not WAY-316606 is safe, and if it will end up finding its way into the hands, and scalps, of consumers.
The study was published Tuesday in the open access journal PLOS Biology.
The study found that the drug removed an inbuilt mechanism which would induce a brake on human hair growth.
A project by The University of Manchester's Centre for Dermatology Research in England began work by examining an immunosuppressive drug that had always been known to cause hair growth as a side effect.
The drug causes a number of side effects like headaches, vomiting, and high blood pressure. But because of its side effects, CsA was not a viable treatment for balding.
However, because of its side effects CsA would be quite unsuitable as a baldness treatment.
A study conducted by the University of Manchester's Center for Dermatology Research found that a compound in the medicine could stop the effects of a protein that is suppressing hair growth in the follicles, USA Today reports.
And if you were wondering what LBC's very own Iain Dale looked like with a full head of hair - wonder no longer.
"That said, more research will need to be done before it can be used by people with hair loss".