Resorbable cartilage implant developer secures $15 million for clinical trial
Regentis Biomaterials (Israel) has reportedly raised $15 million for its GelrinC hydrogel-based resorbable cartilage replacement in a Series D round of funding.
Regentis Biomaterials (Israel) has reportedly raised $15 million for its GelrinC hydrogel-based resorbable cartilage replacement in a Series D round of funding. GelrinC is injected as a liquid and forms a resorbable implant in situ, which is then gradually replaced by regenerated cartilage. The funds will be channeled into a US clinical trial for GelrinC, with the aim of obtaining US FDA approval.
The funding round was led by Haisco Pharmaceutical Group (China). Haisco CEO Wang Junmin commented: “We are delighted to enter the Israeli market with a significant investment in Regentis Biomaterial. We see great potential for GelrinC in China and look forward to applying our know-how and experience in bringing this exciting surgical technology to the China market for the benefit of patients, surgeons and hospitals alike.”
Additionally, Haisco will be the exclusive distributor of GelrinC in China. “We look forward to collaborating with Haisco to expand the potential of this technology in the Chinese market over the coming years,” concluded Alastair Clemow (Regentis).
– Written by Daphne Boulicault