Histogenics reels in $49M Series A for tissue engineering implants

Histogenics--a tissue engineering company--has nailed down $49 million in new Series A financing intended to bring its two signature products to the regulatory finish line. The enormous cash infusion is designed to recapitalize the Waltham, MA, company following its acquisition of Israeli cell therapy outfit Prochon BioTech in May 2011, explains president and CEO Patrick O'Donnell. In part, the funds will support the company's push for a CE mark for VeriCart, a cell-free collagen scaffold designed to be used with a patient's own stem cells to repair small cartilage defects in meniscal and anterior cruciate ligament repair procedures. That submission will take place toward the end of 2013, with plans to pursue U.S. approval once the company obtains "greater clarity" regarding the 510(k) program. Story | Release