Histogenics reels in $30M for regenerative knee implant

Courtesy of Histogenics

Regenerative medicine player Histogenics closed a $30 million private placement, the proceeds of which will bankroll the late-stage development of its implant to repair knee cartilage damage.

Histogenics’ NeoCart implant is currently in Phase III development. It is made from a patient’s own cartilage cells, taken from the cartilage surface of the femur, according to the company. The cells are expanded and then embedded in a 3D collagen scaffold and incubated in Histogenics’ proprietary Tissue Engineering Processor, which mimics the environment of the knee joint.

After a few weeks, the company says, the “neocartilage” is shipped for surgical implantation into the patient’s knee. Within months, the implant could potentially remodel, the cartilage cells in it maturing and the “neocartilage” integrating with existing cartilage in the knee joint, the company said.


Join the world's top medtech executives virtually for the leading event in medtech — The Virtual MedTech Conference by AdvaMed

Expect the same high-quality education, world-class speakers and valuable business development in a virtual format. Experience more of the conference with on demand content and partnering, as well as livestreamed sessions.

A Phase II trial pitting the NeoCart against the standard of care showed that the implant met its primary endpoints for safety, pain and function. The funds will be used to complete an ongoing Phase III trial as well as toward corporate and working capital purposes, the company said in a statement.

Histogenics expects to complete enrollment of the Phase III trial in Q2 2017 and anticipates topline data to be available mid-2018.


Suggested Articles

The immunoassay will measure neurofilament light chain protein levels, found in the blood and cerebrospinal fluid, and linked to nerve damage.

Emmecell aims to make corneal transplant surgery, which can take up to a year to heal from and fails up to 20% of the time, a relic of the past.

Seven developers will provide digital health solutions aimed at the COVID-19 pandemic, including smartphone apps, wearables and big data programs.