InGeneron Expands Series D Financing to $43 Million to Advance Rotator Cuff Tendinopathy Program and Bring Regenerative Cell Therapy to Clinic

On June 11, VCBeat (WeChat ID: vcbeat) learned from foreign media that InGeneron, Inc., a clinical-stage regenerative cell therapy company, announced an increase of $23 million in its Series D financing, bringing the total amount to $43 million. The additional funding came from InGeneron’s clinical partner, Sanford Health, one of the largest integrated healthcare systems in the United States. This investment is structured in tranches tied to InGeneron’s research and development milestones. The funds will support InGeneron’s pivotal study on rotator cuff tendinopathy—a degenerative and often chronic condition—as well as other clinical programs. Reportedly, last month the company announced the enrollment of the first patients in its pivotal trial for rotator cuff tendinopathy.

As part of the transaction, Kelby Krabbenhoft, President and CEO of Sanford Health, will serve as Chairman of InGeneron’s Board of Directors. He stated, “We are impressed by InGeneron’s progress in using adult stem cells to treat a variety of conditions. Through our collaboration, Sanford Health becomes one of the first healthcare systems in the United States to study this novel therapy at the clinical stage. This therapeutic approach aligns with the FDA’s regulatory pathway and serves the best interests of patients.”

InGeneron’s therapeutic approach involves isolating and preparing adipose-derived regenerative cells from the patient’s own adipose tissue, followed by local administration at the site of injury. This therapy is delivered via a proprietary cell processing system designed for single-use, minimally invasive outpatient procedures. The company focuses on developing an autologous cell therapy to treat pain and dysfunction associated with musculoskeletal disorders.

Dr. Angelo Moesslang, CEO of InGeneron, Inc., stated, “Sanford Health’s continued support helps advance InGeneron’s regenerative cell therapy into pivotal trials, marking a critical step toward bringing our treatment to the clinic. This is an exciting milestone for the company, as one of the largest healthcare systems in the United States further validates the potential of regenerative cell therapy, and we are committed to making this treatment available to patients.”

InGeneron has launched three clinical programs targeting key musculoskeletal conditions. Currently, the company’s lead program for partial-thickness rotator cuff tears is enrolling patients in a pivotal study. The company is also conducting feasibility trials for chronic back pain and wrist osteoarthritis. In December 2018, InGeneron reported top-line data from its feasibility study on partial-thickness rotator cuff tears, with results being prepared for peer-reviewed publication. Reportedly, the study found the regenerative cell therapy to be safe, well-tolerated, and demonstrating a favorable safety profile.

InGeneron is a clinical-stage regenerative cell therapy company dedicated to novel, safe regenerative cell treatments. The company’s mission is to establish new standards of care and develop therapies that unlock the healing potential of each patient’s own regenerative cells. InGeneron is committed to helping patients affected by musculoskeletal disorders.

Sanford Health is one of the largest healthcare systems in the United States, dedicated to providing integrated services including healthcare, genomic medicine, advanced care and services, global clinics, and insurance, while also conducting medical research. Headquartered in Sioux Falls, South Dakota, the organization operates 44 hospitals, employs 1,400 physicians, and maintains more than 200 advanced care centers across 26 U.S. states and nine other countries.

(Compiled by Zhang Jing)