Histogenics, a biotech developing an implantable tissue repair platform for cartilage damage to the knee, filed on Tuesday with the SEC to raise up to $65 million in an initial public offering.
The company’s lead candidate, NeoCart, uses a patient’s own cartilage cells and creates a scaffold to engineer tissue growth, and then implants NeoCart at the injured knee. Histogenics expects to complete enrollment of a Phase 3 trial for its regenerative medicine platform by the 1H16. Its trial has been designed under a Special Protocol Assessment from the FDA in hopes of proving efficacy and superiority over the current standard of care, microfracture, which creates tiny holes underneath injured cartilage to spur blood clotting and regeneration.
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