Histogen Announces Completion of Series A Financing
SAN DIEGO, December 1, 2010 - Histogen, Inc., a regenerative medicine company developing solutions based on the products of newborn cells grown under embryonic conditions, today announced the successful completion of its Series A financing at $10 million. Among other private investors, Secure Medical, Leonard Lavin, Lordship Ventures and Angus Mitchell brought the round to a close.
With its pilot clinical trial for hair regrowth completed, a skincare line launched, and exciting preclinical data in applications including oncology, Histogen has added significant value which was recognized by the Company's new and existing shareholders. In addition, Histogen has recently moved into a new facility that will allow for up-scaled manufacturing for its upcoming clinical trials, and later commercial production.
"With the Series A completed, we are excited to build on the momentum Histogen has created over the past two years, and further advance the Company's rich product portfolio," said Gail K. Naughton, Ph.D., CEO and Chairman of the Board for Histogen. "We have made significant strides in several important research areas, advanced partnership discussions, and are on track to reach key value inflection points in 2011."
This successful completion follows the announcement of initial Series A financing in May 2008. Simultaneously, Histogen opens its Series B financing, which has been approved up to $23 million, and has already received commitments toward that round.
The Company is scheduled to begin a Phase I/II clinical trial of its Hair Stimulating Complex (HSC) in Singapore in Spring 2011, and hopes to also begin a clinical study of its soluble human extracellular matrix (hECM) for the treatment of carcinomatosis, a rapidly progressing and debilitating cancer, mid-year.
Histogen, launched in 2007, seeks to redefine regenerative medicine by developing a series of high value products that do not contain embryonic stem cells or animal components. Through Histogen's proprietary bioreactors that mimic the embryonic environment, newborn cells are encouraged to naturally produce the vital proteins and growth factors from which the Company has developed its rich product portfolio. Histogen has two product families - a proprietary liquid complex of embryonic-like proteins and growth factors, and a human Extracellular Matrix (ECM) material, ExCeltrix.
For more information, please visit <http://www.histogen.com> http://www.histogen.com