Humacyte pulls down $150m for artificial blood vessels

Humacyte said today that it raised a $150 million Series B round it plans to use to back a Phase III trial of its Humacyl lab-grown blood vessel technology.

Research Triangle Park, N.C.-based Humacyte, which raised a $12 million Series A round back in 2010, uses a proprietary technology to engineer human tissues that can be shaped into tubes, sheets and other forms to treat vascular diseases. The Duke University spinout was founded in 2004 by Dr. Laura Niklason, a former Duke researcher.

The Series B round was led by a global consortium of new and existing backers, including Access Industries, Bangkok Bank Public, Brady Dougan, Pacific Eagle Asset Management, Reignwood Group and Gavril Yushvaev, Humacyte said. Second and third tranches of the round are pegged to a clinical milestone, the company said.

The Phase III trial will examine Humacyl as a way to improve vascular access for hemodialysis patients with end-stage renal disease. Humacyte said it also plans to use the Series B proceeds to work on its pipeline of devices for use in coronary artery bypass, replacement trachea and esophagus procedures and bypass for peripheral artery disease.

“We believe this is one of the largest private funding rounds in biotech to date, comprised of investors from the U.S. and around the world. We are elated by this overwhelming response, and our investors are excited to be part of the effort to bring such ground-breaking technology to patients,” chairman & CEO Carrie Cox said in prepared remarks. “This funding will further support our team’s work to develop a much-needed alternative to current dialysis access products, and will allow us to continue the progressive research and development of future products where Humacyte’s technology may be applied for patients with significant unmet medical needs.”

Humacyl won fast-track designation from the FDA last year and is in Phase II trials here and in Europe, with the Phase III trial slated for “the coming months,” Humacyte said.

The post Humacyte pulls down $150m for artificial blood vessels appeared first on MassDevice.

from MassDevice http://ift.tt/1M4Divf