Histogenics Acquires Rights to NeoCart for the Japanese Market

Histogenics acquired development and commercialization rights to NeoCart® for the Japanese market from its development partner Purpose Co. NeoCart autologous cell therapy is designed to treat knee cartilage defects.

Histogenics notes that the Japanese market for cartilage repair is estimated at >200,000 procedures annually and growing, due to favorable demographic trends and national healthcare reforms related to regenerative therapies.

Histogenics will make milestone payments to Purpose upon conditional approval of NeoCart in Japan, as well as commercial milestones and a low-single-digit royalty on Japanese sales of NeoCart, upon full approval in Japan.

Histogenics has passed 50% enrollment in a U.S. Phase III trial to investigate NeoCart vs. microfracture as a first-line approach for the treatment of full thickness adult knee cartilage defects.

Sources: Histogenics Corporation, ORTHOWORLD Inc.