Histogen and a Huapont Life Sciences Affiliate Enter Equity Financing Agreement for Development of Hair Stimulating Complex
Histogen, Inc., a regenerative medicine company developing solutions based on the products of cells grown under simulated embryonic conditions, today announced that Pineworld Capital Ltd, an affiliate of Huapont Life Sciences, has made a $6,000,000 private equity investment into the Company to continue development of Histogen’s Hair Stimulating Complex (HSC).
Through this investment, Huapont’s affiliate will be the lead investor in Histogen’s Series D financing round. The proceeds from the Series D financing will in part be utilized to advance Histogen’s hair growth product, HSC, in the United States, as well as to begin preparations for an Initial Public Offering (IPO).
“We are honored that the leading dermatology company in China has recognized the potential of Histogen’s technology,” said Dr. Gail Naughton, Histogen CEO and Chairman of the Board. “We are looking forward to a fruitful relationship, and to having Hayden Zhang as a valuable addition to Histogen’s Board of Directors.”
Huapont will have a right to name one director to the Histogen 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, with terms and conditions to be announced.
Histogen is a regenerative medicine company developing solutions based upon the products of cells grown under proprietary conditions that mimic the embryonic environment, including low oxygen and suspension. Through this unique technology process, newborn cells are encouraged to naturally produce the vital proteins and growth factors from which the Company has developed its rich product portfolio. Histogen’s technology focuses on stimulating a patient’s own stem cells by delivering a proprietary complex of multipotent human proteins that have been shown to support stem cell growth and differentiation. For more information, please visit www.histogen.com.
About Huapont Life Sciences
Huapont Life Sciences is a China-based company focused on the research and development of new and innovative healthcare products, and the manufacture, marketing and sale of leading pharmaceutical products, active pharmaceutical ingredients (known as APIs) and a portfolio of safe and effective agricultural herbicides (including NC16, NC34, NC36, NC125, NC201) serving the agricultural business throughout the US and South American markets. Huapont Life Sciences’ pharmaceutical business includes dermatology products, cardiovascular products, anti-tuberculosis agents, autoimmune-related products and oncology-related products. Huapont Life Sciences’ API business involves the production and sale of bulk pharmaceutical chemicals, pharmaceutical intermediates and preparations of Western medicines, with current annual revenues of approximately US 1.1 billion, and approximately 7,100 employees operating throughout Mainland China. Huapont Life Sciences is listed on the Shenzhen Stock Exchange (002004.SZ) and carries a current market capitalization of approximately US $3.0 billion.