Histogenics develops autologous and scaffold-based products to regenerate knee cartilage, with lead candidate NeoCart (an autologous neocartilage implant) in a Phase 3 clinical program that is currently enrolling patients. The company’s pipeline also includes VeriCart, a single-step, off-the-shelf, cell-free collagen scaffold designed to be used with a patient’s own marrow/stem cells for small cartilage defects. Proceeds from the recent financing are intended to complete NeoCart’s Phase 3 program and support efforts to obtain regulatory clearance in the European Union for VeriCart. Histogenics reported positive Phase 2 data for NeoCart (all primary endpoints met) and has completed earlier Phase 1 and Phase 2 trials comparing NeoCart to standard microfracture surgery. The company says the financing fully funds key clinical and commercial milestones and will allow focus on clinical and regulatory execution. Histogenics is privately held and based in Waltham, Massachusetts; it acquired Israeli cell-therapy company ProChon BioTech in May 2011. The company positions its products as long-term alternatives to joint replacement to address growing demand from active patients and athletes; the article cites ~1.8 million annual arthroscopies for knee cartilage defects as the target population context.

Total raised

$49M

Funding rounds

1

Latest round

Equity

Latest activity

Jul 2012