Dear Shareholders and Friends of Histogen,
As we enter the third quarter of 2019, I am pleased to share our progress from recent months as well as look ahead to the significant milestones that will help shape the future direction of the Company.
I would first like to highlight the development of SkinMedica’s TNS A+ Pro, which is set to launch later this year. Histogen has worked closely with Allergan throughout product development and clinical testing and we are pleased to continue our partnership with Allergan to incorporate our multipotent cell conditioned media (CCM) into their full line of skin care products. This new dual serum was evaluated through a comprehensive clinical study and yielded unprecedented results including rapid, significant reduction in fine lines and wrinkles and improvement in skin texture. The results of that work have been submitted for publication and are expected to be announced later this summer.
One of our key corporate objectives for this year is to build upon the success we have seen in the dermatology space with our partners Allergan and HydraFacial with a focus on further validating our CCM technology and securing non-dilutive capital to fuel our growth. We are currently in the process of identifying a luxury skin care partner to bring Histogen’s CCM into the retail sector. This has been a dynamic process over the past few months with multiple parties, including the most prominent worldwide beauty companies, actively engaged in a process which we expect will lead to a transaction later this year.
On the clinical front, the data analysis from the Phase 1 clinical trial of HSC660 in female hair loss has recently been completed. Excellent safety and tolerability of the product was seen, meeting all primary trial endpoints. We will continue to evaluate the HSC development pathway in both men and women with the goal of moving it forward in late-stage clinical trials early next year.
Finally, we are completing our comprehensive portfolio assessment which will identify key product opportunities for Histogen’s human extracellular matrix (hECM) technology in the orthopedic and aesthetics markets. We see tremendous opportunity to address unmet need with hECM in these therapeutic areas and now that we have re-gained control of these assets, our goal is to bring one or more into clinical development as early as Q4 2019.
I continue to be incredibly proud of the progress we have made this year and I look forward to sharing further news and updates with you throughout the year. Thank you for your continued support!
Richard W. Pascoe
Chairman & Chief Executive Officer