Regentis Biomaterials, a privately held company of Princeton, N.J., focused on developing proprietary hydrogels for tissue regeneration, has raised $10 million in its latest round of funding.
The Series C round of financing will be used to establish Regentis' European presence and expand its ongoing clinical efforts of Gelrin—a biodegradable implant that enhances growth of articular cartilage in damaged knee joints. Gelrin is currently an investigational device, and not available for sale in the U.S., Europe or Israel.
"We are thrilled with our new and existing investors' commitment to make Gelrin available to patients suffering from knee cartilage injuries," said Alastair Clemow, CEO and president of Regentis Biomaterials. "With this new investment, Regentis is poised to expand its clinical efforts and further demonstrate how Gelrin can regenerate cartilage so patients can return to an active lifestyle."
Gelrin allows knee cartilage to regenerate, ensuring high quality and a tight fit with surrounding cartilage and underlying bone. It also 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 is currently conducting a multi-center pilot study in Europe and Israel to evaluate the safety and performance of Gelrin. Prior pre-clinical studies have successfully demonstrated its ability to regrow cartilage.
Investors in the Series C financing include Royal DSM through its venturing subsidiary, Crossroad Fund, Medica Venture Partners, SCPVitalife and the Technion Investment Opportunities Fund.