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Histogenics CEO Patrick O'Donnell tells MassDevice.com that the regenerative medicine company plans to use the $49 million it just raised to fund a Phase III trial of its NeoCart regenerative knee cartilage treatment.

Histogenics

Histogenics said it raised another $49 million for its regenerative cartilage treatments, as it proceeds with a clinical trial for its NeoCart treatment and pursues CE Mark approval for its VeriCart system.

The round was led by Sofinnova Ventures and including backing from new investors Split Rock Partners, BioMed Ventures and FinTech GIMV Fund. Prior backers ProChon Holdings BV, Altima Partners, Foundation Medical Partners, Inflection Point Capital and Boston Millennia Partners also kicked in.

The round takes Histogenics' total take to at least $83 million, including a $34 million debt-and-equity round last year after it merged with ProChon Biotech in May 2011.

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