Humacyte, Inc., a Research Triangle Park, N.C.-based biotechnology and regenerative medicine platform, raised $150m in Series B financing.
Backers included Access Industries, Bangkok Bank Public Company, Brady Dougan, Pacific Eagle Asset Management, Reignwood Group and Gavril Yushvaev.
A second and final tranche of these Series B shares will be issued following the achievement of a clinical milestone.
The company intends to use the funds to support the upcoming global Phase III clinical trials of its investigational human acellular vessel (HAV), HUMACYL™, currently being developed to provide vascular access for patients with End Stage Renal Disease (ESRD) who require hemodialysis, a process of cleansing blood for patients whose kidneys no longer function adequately.
Funding will also support the development of future pipeline products with the potential to improve treatment outcomes for patients with a variety of vascular and non-vascular diseases, such as Coronary Artery Bypass, Replacement Trachea and Esophagus, and bypass for Peripheral Arterial Disease.
Founded in 2004 by Laura Niklason, M.D., Ph.D., and led by Carrie S. Cox, Chairman and Chief Executive Officer, Humacyte received Fast Track designation for HUMACYL for vascular access in hemodialysis patients from the U.S. Food and Drug Administration in 2014 and has ongoing Phase II trials in the U.S. and EU for patients with ESRD who require vascular access for hemodialysis. The company plans to initiate a global Phase III study for HUMACYL in the coming months.