Cash boost allows Regentis to expand GelrinC development in Europe
Regentis Biomaterials has raised US$10 million in its latest round of funding from Royal DSM, a new investor, as well as from existing investors. The series C round of financing will be used to establish Regentis' European presence and expand its ongoing clinical efforts of GelrinC, a biodegradable implant that enhances growth of articular cartilage in damaged knee joints.
GelrinC allows knee cartilage to regenerate so that it is of high quality and fits tightly with surrounding cartilage and underlying bone. It 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 multicentre pilot study in Europe and Israel to evaluate the safety and performance of GelrinC. Prior preclinical studies have claimed to show its ability to regrow cartilage.