Histogen is a regenerative medicine company with a hair growth product seeking to commence US human clinical trials, recurrent revenues from near term product sales of ingredients for skin care products, and significant equity and licensor positions in oncology and orthopedic joint ventures. Histogen’s lead therapeutic product stimulates hair growth, addressing a multibillion dollar global market. The Company has raised $33M since its founding in 2007, the majority of which has been used to develop and optimize its proprietary manufacturing process, submit patents in a number of countries, and refine and advance its products, particularly hair growth products. Histogen hopes to build on previous clinical experience through completion of initial US clinical trials of its hair growth product and anticipates this could enable high value corporate partnering activities and potentially an IPO.
Histogen has formed two joint ventures: PUR Biologics, focused on the development of biologic products for orthopedic applications, and Adaptive Biologix, developing a lead product for cancer applications. Through a structure in which these applications are supported through joint ventures, Histogen is able to focus on developing its hair growth product, while still maintaining a strong equity position in numerous valuable therapeutic applications.
In August 2016, Histogen successfully closed its lead investor in the Series D round. The lead is an affiliate of Huapont Life Sciences, a $3 billion Chinese pharmaceutical company specializing in dermatological products and services. The Company will be seeking to raise an additional $12 million in net proceeds to provide capital for development of its HSC program including preclinical development efforts, a US Phase I clinical trial in female diffuse hair loss patients and a later stage HSC trial in male pattern hair loss, expanding its manufacturing capability, other corporate purposes and to support preparation for an initial public offering (IPO).
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