Regentis Biomaterials, an Israeli regenerative medicine company developing orthopedic hydrogel implants, raised $10 million by offering 1.3 million shares at $8, below the range of $10 to $12. The company offered 0.3 million more shares than anticipated. At pricing, the company commands a market cap of $47 million.
Regentis is a regenerative medicine company focused on developing orthopedic treatments using its Gelrin platform, based on degradable hydrogel implants to regenerate damaged or diseased tissue. Its lead candidate is GelrinC, a cell-free, off-the-shelf hydrogel that is cured into an implant in the knee for the treatment of painful injuries to articular knee cartilage. GelrinC was approved as a device in Europe in 2017, and the company plans to identify strategic partners in Europe to bring the product to market. To obtain marketing approval in the US, Regentis is currently carrying out a pivotal trial for pre-marketing approval. The trial was initiated in late 2017, and the company expects to complete patient recruitment by the end of 2025.
Because its market cap is less than $50 million at offering, Regentis Biomaterials will be excluded from RC’s 2025 IPO stats.
Regentis Biomaterials plans to list on the NYSE American under the symbol RGNT. ThinkEquity acted as sole bookrunner on the deal.
