A method of treating a disease or disorder selected from the group consisting of hypertrophic scar, alopecia, multiple sclerosis, fibrosis, inflammatory bowel disease, scleroderma, vasoconstrictive diseases, herpes virus keratitis, and organ graft rejection, the method comprising the step of administering to a patient in need of such treatment a composition comprising a therapeutically effective amount of a shark cartilage extract comprising one more biologically active components, a majority of which have a molecular weight less than about 500 kDa.