San Diego’s Histogen Inc., a regenerative medicine company, has received a $6 million private equity investment from China-based Pineworld Capital Ltd. for the development of Histogen’s hair growth program.
Pineworld Capital, an affiliate of Chinese pharmaceutical giant Huapont Life Sciences, will be the lead investor in Histogen’s Series D financing round, according to a Histogen news release.
The proceeds will be used to advance Histogen’s hair growth product, called hair stimulating complex (HSC), as well as begin preparation for an initial public offering (IPO).
Huapont will have a right to name one director to Histogen’s 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, according to the release.