Participated · Series C · Aug 2020

DiscGenics is a clinical-stage biopharmaceutical company based in Salt Lake City, Utah, developing regenerative, cell-based therapies to alleviate pain and restore function in patients with degenerative diseases of the spine. Its lead product candidate is Injectable Discogenic Cell Therapy (IDCT), an allogeneic, homologous, injectable cell therapy using biomedically engineered progenitor cells derived from intervertebral disc tissue. IDCT is being developed as a non-surgical, potentially regenerative treatment for patients with mild to moderate degenerative disc disease. The company will use the new capital to support ongoing clinical trials of IDCT for lumbar degenerative disc disease, to fund future commercialization activities in the U.S. and Japan, and to scale up and scale out its allogeneic cell manufacturing facility in Salt Lake City. DiscGenics is led by CEO and Chairman Flagg Flanagan. The company recently added two new board members: Colin Lee Novick and neurosurgeon Najeeb Thomas, M.D. DiscGenics is a clinical-stage regenerative medicine company based in Salt Lake City, Utah, focused on therapies for degenerative diseases of the spine. Its lead product candidate, IDCT, is a homologous, allogeneic, injectable cell therapy aimed at treating patients with mild to moderate degenerative disc disease. The company closed a $14M Series B that brings total funding to $21.7M. Proceeds will support clinical development of IDCT in the U.S. and Japan, ramp translation of its cell therapy manufacturing process for Phase III clinical and commercial production, and fund ongoing operations. The round was jointly led by the company’s Board of Directors, existing long-term investors and new investment partner and observer Mitsubishi UFJ Capital Co. Ltd. DiscGenics is led by CEO and Chairman Flagg Flanagan.