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Product / Company Performance

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.

Other cartilage repair news from 2016 YTD:

AlloSource launched ProChondrix Cartilage Restoration Matrix

LifeNet Health and Arthrex plan to explore opportunities in cartilage repair

Smith & Nephew acquired BST-CarGel® cartilage repair product and IP assets from Piramal

Sources: Histogenics Corporation; ORTHOWORLD Inc.

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