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Histogen, a regenerative medicine company, has published positive data on its patented HST 004 material for spinal disc repair in the Journal of Medicine and Surgical Sciences. The study demonstrated HST 004's ability to reverse inflammation and stimulate repair of intervertebral disc (IVD) matrix in animal models. In a rabbit model, disc height increased significantly within four weeks post-treatment. This innovation addresses a significant need for non-surgical interventions for the 21 million U.S. patients suffering from degenerative disc disease. Histogen also plans a merger with Conatus Pharmaceuticals (CNAT) in an all-stock deal.
Histogen Inc. announced FDA approval for its IND application for HST 001, a therapy targeting androgenic alopecia in men, set to undergo a Phase 1b/2a clinical trial in Q2 2020. This milestone is crucial as Histogen anticipates completing its merger with Conatus Pharmaceuticals, aiming to boost shareholder value. The merger includes an all-stock transaction valuing Histogen at $100 million. Upon completion, Histogen stockholders will own 74% of the new entity, which will trade as HSTO on NASDAQ. Histogen’s innovative technology utilizes growth factors to promote hair growth, marking significant progress in regenerative medicine.
Conatus Pharmaceuticals (Nasdaq: CNAT) has adjourned its special meeting of stockholders to secure a quorum for its merger with Histogen Inc. The meeting, now rescheduled for May 21, 2020, is critical for obtaining stockholder approval of a reverse stock split, necessary for the merger's completion. Notably, over 95% of stockholder votes cast so far support the merger. If the proposals are not approved, the merger may not proceed. The expected ownership of the combined entity post-merger will be approximately 26% for Conatus stockholders and 74% for Histogen stockholders.
