Financial

Histogenics Files for IPO

Histogenics Corp. has filed its S-1 form with the U.S. Securities and Exchange Commission (SEC) for an initial public offering (IPO). No terms were given for this offering but the filing is up to $65 million. The company will list on the Nasdaq Global Market under the symbol HSGX. The underwriters for this offering are Cowen, Needham, BTIG and Canaccord Genuity.

Histogenics is regenerative medicine company focused on developing products in the musculoskeletal segment of the marketplace. NeoCart, the primary candidate, utilizes various aspects of the company’s regenerative medicine platform to develop tissue implants intended to treat tissue injury in the field of orthopedics, specifically cartilage damage in the knee. Histogenics has no other products that are approved for sale in the United States. It is currently in Phase 3, studying cartilage defects in the knees of 245 patients under a Special Protocol Assessment with the FDA.

Based on recent publications, there is an estimated 1,000,000 knee arthroscopies performed each year in the United States, and cartilage damage is likely to be identified in over 60% of those knee arthroscopies. Also there is an estimated 750,000 knee replacements performed in the U.S. annually.

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The goal of the regenerative medicine platform is to develop a strong pipeline. Histogenics hopes the positive clinical data seen in treating cartilage damage of the knee with NeoCart will be applicable to other joints such as the ankle, hip and shoulder.

Histogenics is financing the Phase 3 clinical trial with funds raised from private financing activities. It intends to use the proceeds from this offering to finance the trial through the expected completion of enrollment in the first half of 2016.

FULL IPO FILING

By Chris Lange

Read more: Histogenics Files for IPO – 24/7 Wall St. http://247wallst.com/healthcare-business/2014/10/08/histogenics-files-for-ipo/#ixzz3FfLw2Wux
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Josh Sandberg

Josh Sandberg is the President and CEO of Ortho Spine Partners and sits on several company and industry related Boards. He also is the Creator and Editor of OrthoSpineNews.

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