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Histogenics Announces $30.0MM Private Placement -

Histogenics entered into an agreement to raise ~US $30.0MM in a private placement comprising common stock, Series A Convertible Preferred Stock and exercisable warrants. The placement is led by new investors, with participation from certain existing investors.

Net proceeds will support the development of NeoCart® novel cartilage repair therapy, including completion of an ongoing Phase III clinical trial. Enrollment of 245 subjects will complete in 2H17, with topline data on 1-year primary efficacy available by mid-2018. Over 50% of enrollment was complete by mid-1Q16.

NeoCart autologous cell therapy is designed to treat knee cartilage defects.

Sources: Histogenics Corporation; ORTHOWORLD Inc.; clinicaltrials.gov

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