Hospital operator Sanford Health provided $20m of series D financing for US-based regenerative medicine and cell therapy technology developer InGeneron yesterday as part of a cooperation agreement.
Founded in 2006, InGeneron is working on technology that will allow doctors to use regenerative cells taken from a patient’s own body to help heal them at the point of care.
The company is conducting clinical trials for rotator cuff tears and venous ulcers at various parts of Sanford’s healthcare network and comparing the results to current treatments.
Ron Stubbers, president of InGeneron, said: “This significant investment demonstrates Sanford’s commitment to be an active participant in InGeneron as well as being our clinical trial site of choice.
“Our joint efforts will enable the company to make regenerative cell therapies available to clinical practice and to establish a leading position in the application of adipose-derived regenerative cells.”
InGeneron raised $4.5m in July 2016 and $2.15m of debt financing five months later, according to regulatory filings, but has not revealed the identity of those investors or details about its earlier funding.