Histogenics Closes $49 Million Series A Fundraising to Support Commercial Development of Transformational Cartilage Repair Products (press release)
--Proceeds to Drive Completion of Phase 3 NeoCart® Clinical Trials and EU Regulatory Clearance of VeriCart™--
Regenerative medicine company Histogenics Corporation, announced today the completion of a $49 million round of financing. The syndicate was led by Sofinnova Ventures with participation from additional new investors Split Rock Partners, BioMed Ventures and FinTech GIMV Fund, L.P. Existing investors ProChon Holdings BV, Altima Partners, Foundation Medical Partners, Inflection Point Capital and Boston Millennia Partners also participated in the financing. Proceeds will be used to complete the ongoing Phase 3 clinical program for lead product candidate NeoCart®, which is currently enrolling patients. NeoCart is an autologous neocartilage tissue implant that utilizes the patient’s own cells to regenerate cartilage in patients suffering from cartilage lesions in the knee. Funds will also support efforts to obtain regulatory clearance in the European Union for product candidate VeriCart™, a single-step, cell-free collagen scaffold uni...
