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Histogen Inc. Receives $6 Million Investment From Chinese Firm
San Diego s Histogen Inc., a regenerative medicine company, has received a $6 million private equity investment from China-based Pineworld Capital Ltd. for the development of Histogen s hair growth program.
Pineworld Capital, an affiliate of Chinese pharmaceutical giant Huapont Life Sciences, will be the lead investor in Histogen s Series D financing round, according to a Histogen news release.
The proceeds will be used to advance Histogen s hair growth product, called hair stimulating complex (HSC), as well as begin preparation for an initial public offering (IPO).
Huapont will have a right to name one director to Histogen s board of directors, and has certain participation rights to invest in future equity financings. Huapont and Histogen intend to enter a license and supply agreement for the development and commercialization of HSC in Mainland China, according to the release.
By BRITTANY MEILING
San Diego s Histogen Inc., a regenerative medicine company, has received a $6 million private equity investment from China-based Pineworld Capital Ltd. for the development of Histogen s hair growth program.
Pineworld Capital, an affiliate of Chinese pharmaceutical giant Huapont Life Sciences, will be the lead investor in Histogen s Series D financing round, according to a Histogen news release.
The proceeds will be used to advance Histogen s hair growth product, called hair stimulating complex (HSC), as well as begin preparation for an initial public offering (IPO).
Huapont will have a right to name one director to Histogen s board of directors, and has certain participation rights to invest in future equity financings. Huapont and Histogen intend to enter a license and supply agreement for the development and commercialization of HSC in Mainland China, according to the release.
By BRITTANY MEILING