Histogenics Corporation, a Waltham, Massachusetts-based regenerative medicine company, has completed a $49m financing.
The round was led by Sofinnova Ventures, with participation from new investors Split Rock Partners, BioMed Ventures and FinTech GIMV Fund, L.P. and existing investors ProChon Holdings BV, Altima Partners, Foundation Medical Partners, Inflection Point Capital and Boston Millennia Partners.
Led by Patrick O’Donnell, President and CEO, Histogenics combines cell therapy and tissue engineering technologies to develop highly innovative products for tissue repair and regeneration.
The company intends to use the funding 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 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.
In conjunction with the funding, Garheng Kong, MD, PhD of Sofinnova Ventures and Josh Baltzell of Split Rock Venture Partners will join Histogenics’ Board of Directors.