Israeli startup Regentis Biomaterials has closed a $15 million Series D financing round led by Chinese pharmaceutical group Haisco with participation from existing investors Medica Venture Partners, SCP Vitalife Partners, Italian asset manager Generali Investment, and the technology transfer company of the Technion, T3.
The company, which is developing products to treat damaged cartilage, has raised $35 million to date including the latest financing round.
Based in Or Akiva between Tel Aviv and Haifa, Regentis Biomaterials was founded in 2004 and is managed by by CEO and President Dr. Alastair Clemow. He said, "We are excited to begin working with Haisco to expand the technological potential of our product for the Chinese market in the coming few years."
Regentis Biomaterials develops hydrogels for tissue regeneration originally developed at the Technion University by Dr. Dror Seliktar. The company’s flagship product, GelrinC, combines the stability and versatility of a synthetic material with the bio-functionality of a natural substance. Currently the treatment is under clinical trials for the treatment of articular cartilage lesions.
The company's products already has approval for sale in Europe and clinical trials will soon begin for US Food and Drug Administration (FDA) approval.
Medica Venture Partners managing partner Dr. Ehud Geller said, "This latest financing round comes after major progress and success in developing the company's leading product and its clinical trials."
Published by Globes [online], Israel business news - www.globes-online.com - on February 7, 2016
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