Waltham, MA-based Histogenics has rounded up $13.1 million in its second round. Boston Millennia Partners, which originally backed the biotech in 2006, led the round. Foundation Medical Partners, a venture firm, and Stryker Corporation participated.
Histogenics has been focused on advancing cartilage repair technology that originated in the work of Dr. Shuichi Mizuno of Brigham and Women's Hospital. Doctors take a sample of a patient's native chondrocytes, culture them and then re-implant them into a lesion using a proprietary collagen matrix and glue.
"Histogenics' technologies have the potential to provide an alternative to joint replacement in treating injuries to weight bearing joints. Such injuries can result from trauma or from a lifetime of wear and tear, so that the Histogenics technology is expected to be good news for people over the age of thirty just beginning to suffer from joint pain. We believe Histogenics is uniquely positioned to address this growing market opportunity with an effective cartilage repair technology," said Patrick J. Fortune, Ph.D., Partner with Boston Millennia Partners.
- read the Histogenics release
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