Histogenics Closes $30.0 Million Private Placement -
Histogenics closed its previously-announced US $30.0MM private placement of common stock, Series A Convertible Preferred Stock and warrants. Funds will support development of NeoCart® novel cartilage repair therapy, including completion of the ongoing Phase III clinical trial.
The transaction was led by new healthcare-dedicated institutional investors, with participation by some existing investors.
Enrollment in the Phase III clinical trial should complete in 2Q17, with topline data on its 1-year primary efficacy endpoint available by mid-2018. Over 50% of enrollment was complete by mid-1Q16.