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Histogenics acquires ProChon in stock-for-stock exchange
July 2011
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WALTHAM, Mass.—Privately held Histogenics Corp., a regenerative medicine company, has recently acquired ProChon Biotech Ltd. in a stock-for-stock exchange. Patrick O'Donnell, formerly CEO of ProChon Biotech, will lead the new Histogenics management team as president and CEO, and will also be a member of the board of directors. No financial details were disclosed. ProChon's focus is on the fibroblast growth factor system and its use in tissue regeneration. Histogenics' initial focus will be the completion of the NeoCart Phase III clinical study for its autologous cartilage regeneration technology and bringing the product to market in the United States, Europe and Israel. In a statement, O'Donnell said the combined company "will leverage each company's distinctive capabilities to develop a broad regenerative medicine pipeline that will address surgical applications in orthopedics, vascular and neurosurgery."


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