Tissue engineering and regenerative medicine start-up ReLive Biotechnologies Ltd has announced the full acquisition of Germany-listed Co.Don AG (FRA: CNW), gaining rights to its cartilage repair cell therapy Spherox/Chondrosphere. The move comes as the Hong Kong-based company secured over USD 36 million in a Series A financing round led by Shanghai Healthcare Capital, with participation from Indaco Capital, Jiuyo Capital, and Watson Capital. The funds will be used to support operations in China, the US, and Europe, including team building, regulatory filings, manufacturing, marketing, and research and development (R&D).
Acquisition and Strategic Focus
The acquisition of Co.Don AG marks a significant step for ReLive Biotechnologies in expanding its presence in the global regenerative medicine market. Spherox, the only cell therapy approved for the repair and regeneration of articular cartilage in Europe, has also secured marketing approval in the US. This positions ReLive to compete directly with similar products such as Vericel Corporation’s (NASDAQ: VCEL) MACI, which is also approved for cartilage repair.
Clinical Impact and Market Potential
Spherox has a proven track record, having treated over 17,000 patients with severe articular cartilage defects in Europe. The therapy’s verified safety and efficacy make it a valuable addition to ReLive’s portfolio. With the Series A funding, ReLive plans to accelerate the commercialization of Spherox and expand its operations globally, leveraging the therapy’s potential to address significant unmet needs in cartilage repair.
Future Outlook
ReLive Biotechnologies’ acquisition of Co.Don AG and the successful Series A financing round highlight the company’s commitment to advancing tissue engineering and regenerative medicine. The funds will support strategic initiatives aimed at enhancing the company’s capabilities in R&D, manufacturing, and marketing, positioning ReLive for continued growth and innovation in the global healthcare sector.-Fineline Info & Tech
