Regentis Biomaterials, an Israel-based company developing treatments for damaged cartilage, has closed a $15m series D round led by pharmaceutical company Haisco.
Haisco invested alongside Generali Investment, a subsidiary of insurance group Generali, as well as venture capital fund Medica Venture Partners, VC firm SCP Vitalife Partners and T³, the technology transfer office of Israeli university Technion.
Founded in 2004, Regentis has developed a hydrogel called GelrinC to regenerate tissue in order to treat articular cartilage lesions.
GelrinC, based on technology originally discovered at Technion, has secured regulatory approval in Europe and Regentis plans to soon begin clinical trials in the US. Haisco will be the exclusive distributor of the hydrogel in China.
Alastair Clemow, CEO and president of Regentis, said: “We look forward to collaborating with Haisco to expand the potential of this technology in the Chinese market over the coming years”
The round took Regentis’ overall funding to $35m, according to Israeli business daily Globes.
Regentis previously raised $10m in a 2012 series C round featuring DSM Venturing, the corporate venturing arm of pharmaceutical firm Royal DSM, and existing investors Medica Venture Partners, SCP Vitalife and Technion Investment Opportunities Fund.