Regentis Biomaterials Ltd., an Or Akiva, Israel and Princeton, NJ-based company that is developing a cartilage regeneration implant, has raised $10m in Series C funding.
Backers include Royal DSM, Crossroad Fund, Medica Venture Partners, SCPVitalife and the Technion Investment Opportunities Fund.
The company intends to use the funding to expand clinical efforts for GelrinC™, its biodegradable implant, which is designed to enhance growth of articular cartilage in damaged knee joints.
Led by CEO and President Dr. Alastair Clemow, Regentis Biomaterials is currently conducting a multi-center pilot study in Europe and Israel to evaluate the safety and performance of GelrinC. Prior pre-clinical studies have demonstrated its ability to regrow cartilage.
GelrinC is currently an investigational device, and not available for sale in the U.S., Europe and Israel.