Biotech, Financing

Histogenics Corporation raises $49 million in private financing

Posted on 25 July 2012

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Histogenics Corporation announced 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 from his financing round 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.

The financing Funds will also support efforts to obtain regulatory clearance in the European Union for product candidate VeriCart, a single-step, cell-free collagen scaffold uniquely designed to be used in conjunction with the patient’s own stem cells, to repair small cartilage defects frequently observed in meniscal and anterior cruciate ligament repair procedures.

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