ReGen Biologics
Completes $6 mil. private financing, including a $4 mil. preferred equity investment and a $2 mil. line of credit from Sulzer Medica. The funding will be used in part to prepare for the market launch of the firm's flagship collagen-based ReGen meniscus implant in Europe in 2000. The device, intended for regeneration and regrowth of damaged meniscal knee cartilage, is currently in pivotal multi-center trials in the U.S. The privately held, Redwood City, California company also plans to launch the SharpShooter meniscal repair system in the [U.S.] and internationally in the second half of 1999. The disposable SharpShooter device "helps to reduce the time and resources required to repair torn menisci," ReGen claims