The funds raised will be used to expand the company's clinical use of its innovative cartilage regeneration implant GelrinC.
Regentis Biomaterials Ltd., which develops proprietary hydrogels for tissue regeneration, has raised $10 million in its latest round of funding from new investors Royal DSM, a Dutch life sciences fund, and from Crossroad Fund, Italian giant Generali's Israeli technology fund, as well as from existing investors Medica Venture Partner, SCP Vitalife Partners, and the Technion Investment Opportunities Fund.
Regentis said that the Series C round of financing will be used to establish its European presence and expand its ongoing clinical efforts of GelrinC a biodegradable implant that enhances growth of articular cartilage in damaged knee joints. It is currently an investigational device, and not available for sale in the US, Europe and Israel.
Regentis Biomaterials CEO Dr. Alastair Clemow said, "With this new investment, Regentis is poised to expand its clinical efforts and further demonstrate how GelrinC can regenerate cartilage so patients can return to an active lifestyle."
Regentis's product allows knee cartilage to regenerate so that it fits tightly with surrounding cartilage and underlying bone. It closely restores cartilage to the condition it was in prior to injury. While there are cartilage repair techniques that relieve pain and restore the knee's functionality, the regenerated cartilage resulting from these procedures is different in nature from the native cartilage and is often followed by subsequent surgical procedure.
Regentis Biomaterials is currently conducting a multi-center pilot study in Europe and Israel to evaluate the safety and performance of GelrinC. Prior pre-clinical studies have successfully demonstrated its ability to regrow cartilage.
Regentis Biomaterials has offices in Or Akiva in Israel and Princeton, New Jersey in the US.
Published by Globes [online], Israel business news - www.globes-online.com - on May 14, 2012
© Copyright of Globes Publisher Itonut (1983) Ltd. 2012
You comment was recieved and soon will be published.
Thank you for posting your comment, which will be reviewed for publication.
Load more comments