Regentis Biomaterials Ltd., a Princeton, New Jersey and Or Akiva, Israel-based developer of cartilage repair solutions, closed a $15m Series D funding.
The round was led by Haisco Pharmaceutical Group, a Chinese pharmaceutical manufacturer, with participation from existing investors Medica Partners, SCP Vitalife Partners, Generali Financial Holdings and both the Technion Research & Development Foundation and the Technion Innovation Opportunities Fund. As part of the investment, Haisco will serve as the exclusive distributor of GelrinC in China.
The company intends to use the funds for conducting a pivotal clinical trial on GelrinC in the United States as required to obtain marketing approval from the FDA.
Led by Alastair Clemow, Ph.D., CEO, Regentis Biomaterials has developed GelrinC®, a proprietary hydrogel based on technology invented at The Technion – Israel Institute of Technology. Implanted as a liquid, GelrinC is cured in-situ to form a resorbable implant which is gradually replaced by newly regenerated cartilage.
In the earlier trial in Europe and Israel, GelrinC provided patients suffering from cartilage injuries with relief from knee pain and improved function to return to normal activities.