(NASA.gov)
Regentis Biomaterials Ltd., based in Or Akiva, Israel and Princeton, New Jersey, has secured $10 million in series C funds, the third round of financing after initial start-up. New investors Royal DSM and Crossroad Fund, and existing investors Medica Venture Partners, SCPVitalife and the Technion Investment Opportunities Fund contributed to the round.
The company’s lead product is GelrinC, a biodegradable implant designed to enhance the repair and regeneration of damaged joint cartilage, as often occurs in athletic injuries. Based on Regentis’s hydrogel technology, GelrinC is designed to offer a controlled environment for gradual tissue repair and regeneration of cartilage similar to the cartilage found in joints.
GelrinC is being tested in a phase 1/phase 2 clinical trial in Belgium, Germany, and Israel. The company says GelrinC has been shown to regrow cartilage in preclinical animal studies, but the product has not yet been approved for treatments in the U.S., Europe, or Israel. Proceeds from the new financing are expected to be used to establish Regentis’s European presence and expand its clinical trials of GelrinC.
Regentis’s technology is based on research conducted by Dror Seliktar of Technion University in Israel. Seliktar is a co-founder of Regentis Biomaterials and currently serves as the company’s chief scientist.
Read more:
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- Knee Replacement Maker Lands $89M Series E Financing
- Stem Cell Bandage Approved for Clinical Trial
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