US$23 million awarded to bring rotator cuff therapy to clinic
InGeneron has secured an additional US$23 million in Series D funding to commercialize their pivotal rotator cuff program, bringing the total funds raised to US$43 million.
InGeneron, Inc. (TX, USA) has received US$23 million in Series D funding from their clinical partner Sandford Health (SD, USA). This funding will support a pivotal study in rotator cuff tendinopathy and brings the total funds raised by InGeneron to US$43 million.
“We are impressed by the progress InGeneron has made toward the use of adult stem cells to treat a number of injuries and conditions,” said Kelby Krabbenhoft, President and CEO of Sanford Health, who is also a board director of InGeneron. “Through our collaboration with the company, Sanford Health is among the first health systems in the U.S. in a clinical stage of researching this novel treatment approach for the benefit of patients in compliance with the FDA’s regulatory pathway.”
InGeneron is developing autologous, adipose-derived cell therapy products that are designed to be manufactured in a minimally invasive procedure at the bedside. Previous trial data has demonstrated safety of the treatment, and a lead program in partial thickness rotator cuff tears is currently enrolling patients in a double-blinded, multi-center pivotal study.
“Sanford Health’s continued support helps advance InGeneron’s regenerative cell therapy into the expansive pivotal trial phase, a significant step toward bringing our therapy into the clinic,” said Angelo Moesslang, Chief Executive Officer of InGeneron.
“This is an exciting time for the company, as one of the largest health systems in the United States further affirms the potential of adipose-derived regenerative cell therapy, while we diligently work to make it available to patients.”