InGeneron Extends Series D Financing to $43 Million to Bring Regenerative Cell Therapy into the Clinic

Company raises up to additional $23 million from strategic partner
Sanford Health to advance pivotal program in rotator cuff tendinopathy

HOUSTON–(BUSINESS WIRE)–#celltherapy–InGeneron, Inc., a clinical stage regenerative medicine and cell therapy
company, announced today the extension of its Series D financing by up
to $23 million, totaling up to $43 million to be invested in the
organization. The additional funds will come from InGeneron’s clinical
partner Sanford Health, one of the largest integrated health systems in
the United States. The investment is structured in various tranches
linked to progress in the company’s development. It will support the
advancement of InGeneron’s pivotal study in rotator cuff tendinopathy, a
degenerative and often chronic condition found in a person’s shoulder,
as well as other clinical programs in its autologous point-of-care cell
therapy portfolio. Last month, the company announced the enrollment of
the first patients in its rotator cuff tendinopathy pivotal trial.

“We are impressed by the progress InGeneron has made toward the use of
adult stem cells to treat a number of injuries and conditions,” said
Kelby Krabbenhoft, President and CEO of Sanford Health, who is also a
board director of InGeneron. “Through our collaboration with the
company, Sanford Health is among the first health systems in the U.S. in
a clinical stage of researching this novel treatment approach for the
benefit of patients in compliance with the FDA’s regulatory pathway.”

InGeneron’s therapeutic approach involves isolating and preparing
adipose-derived regenerative cells (ADRCs) from a patient’s own fat
tissue and administering the cells locally at the site of injury. The
therapy is enabled by a proprietary cell processing system, designed for
a one-time, minimally-invasive, outpatient procedure performed at the
bedside. The company’s primary focus is on developing an autologous cell
therapy to treat pain and functional impairments associated with
musculoskeletal conditions.

“Sanford Health’s continued support helps advance InGeneron’s
regenerative cell therapy into the expansive pivotal trial phase, a
significant step toward bringing our therapy into the clinic,” said
Angelo Moesslang, PhD, Chief Executive Officer of InGeneron. “This is an
exciting time for the company, as one of the largest health systems in
the United States further affirms the potential of adipose-derived
regenerative cell therapy, while we diligently work to make it available
to patients.”

InGeneron has launched three clinical programs centered around key
musculoskeletal conditions. Its lead program in partial thickness
rotator cuff tears is presently enrolling patients in a double-blinded,
multi-center pivotal study. The company is also conducting feasibility
trials in chronic back pain and wrist osteoarthritis. It reported
top-line data of its partial thickness rotator cuff tear feasibility
study in December 2018, which found the therapy to be safe and
well-tolerated. The data can be found on the company’s
website
, and the results of that trial are being prepared for
peer-reviewed publication.

About InGeneron

InGeneron is a clinical stage cell therapy company enabling novel, safe
and evidence-based regenerative medicine therapies. Our purpose is to
set new therapeutic standards by developing treatments that unlock the
healing potential of each patient’s own regenerative cells processed at
the point of care for same-day application. We focus on helping patients
who are impacted by musculoskeletal conditions. www.ingeneron.com

About Sandford Health

Sanford Health, one of the largest health systems in the United States,
is dedicated to the integrated delivery of health care, genomic
medicine, senior care and services, global clinics, research and
affordable insurance. Headquartered in Sioux Falls, South Dakota, the
organization includes 44 hospitals, 1,400 physicians and more than 200
Good Samaritan Society senior care locations in 26 states and nine
countries. Nearly $1 billion in gifts from philanthropist Denny Sanford
have transformed how Sanford Health improves the human condition. www.sanfordhealth.org

Contacts

Jon Stone
On behalf of InGeneron
612.475.5955
[email protected]

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