Humacyte Raises $150 Million Series B Financing

RESEARCH TRIANGLE PARK, N.C. -- Humacyte, Inc., an innovator in biotechnology and regenerative medicine, announced today that it has raised $150 million committed Series B preferred stock financing, led by a global consortium of new and existing private investors that include Access Industries, Bangkok Bank Public Company Ltd., Brady Dougan, Pacific Eagle Asset Management, Reignwood Group and Gavril Yushvaev. Humacyte expects to issue a second and final tranche of these Series B shares following the achievement of a clinical milestone.

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“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”

The funding will support the upcoming global Phase III clinical trials of Humacyte’s investigational human acellular vessel (HAV), HUMACYL™, currently being developed to provide vascular access for patients with End Stage Renal Disease (ESRD) who require hemodialysis, a process of cleansing blood for patients whose kidneys no longer function adequately. Funding will also support the development of future pipeline products with the potential to improve treatment outcomes for patients with a variety of vascular and non-vascular diseases, such as Coronary Artery Bypass, Replacement Trachea and Esophagus, and bypass for Peripheral Arterial 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,” said Carrie S. Cox, Chairman and Chief Executive Officer of Humacyte. “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.”

Humacyte was founded in 2004 by Laura Niklason, M.D., Ph.D., a world leader in tissue engineering and creator of Humacyte’s technology. Based on studies completed thus far, when HUMACYL is implanted into patients, these vessels have the potential to become very similar to the patients’ own blood vessels. HUMACYL also has the potential to last longer with fewer complications than current synthetic products used in hemodialysis access and could decrease healthcare costs by potentially reducing the number of surgical interventions.

Humacyte received Fast Track designation for HUMACYL for vascular access in hemodialysis patients from the U.S. Food and Drug Administration in 2014 and has ongoing Phase II trials in the U.S. and EU for patients with ESRD who require vascular access for hemodialysis. Humacyte plans to initiate a global Phase III study for HUMACYL in the coming months.

In September, Humacyte also announced two significant additions to the company’s Board of Directors, appointing former U.S. Secretary of Health and Human Services, Kathleen Sebelius and healthcare executive Dale A. Sander as directors. The new round of investment capital and the contributions of Secretary Sebelius and Mr. Sander will combine to provide significant support as Humacyte enters into Phase III clinical trials.

Credit Suisse advised and acted as the sole underwriter and placement agent for the transaction.

About Humacyte

Humacyte, Inc., a privately held company founded in 2004, is a medical research, discovery and development company with clinical and pre-clinical stage investigational products. Humacyte is primarily focused on developing and commercializing a proprietary novel technology based on human tissue-based products for key applications in regenerative medicine and vascular surgery. The company uses its innovative, proprietary platform technology to engineer human, extracellular matrix-based tissues that can be shaped into tubes, sheets, or particulate conformations, with properties similar to native tissues. These are being developed for potential use in many specific applications, with the goal to significantly improve treatment outcomes for many patients, including those with vascular disease and those requiring hemodialysis. The company’s proprietary technologies are designed to create off-the-shelf products that, once approved, can be utilized in any patient. The company web site is www.humacyte.com.