‒ Histogenics Recognized by the Smaller Business Association of New England (SBANE) as One of the Most Innovative Companies in the Region ‒ ‒ NeoCart ® and Tissue Generation Platform Seen as a Potential Leading Solution to Treat Cartilage Defects ‒
WALTHAM, Mass., May 15, 2017 (GLOBE NEWSWIRE) -- Histogenics Corporation (Histogenics) (Nasdaq: HSGX ), a regenerative medicine company focused on developing and commercializing products in the musculoskeletal space, announced that it was one of the winners of the prestigious 2017 New England Innovation Awards, sponsored by SBANE. Eight total winners were selected from 20 finalists, and an initial pool of almost 200 organizations, by a panel of more than 60 judges, and announced at the May 11, 2017 Gala Awards Dinner.
One of the most highly regarded regional awards programs for business excellence, the annual New England Innovation Awards honored Histogenics as a top local company for its commitment to product innovation and cutting edge research in cartilage repair. Innovation is at the heart of economic prosperity and SBANE continues to recognize those companies and organizations that have transformed their innovative ideas into a product or service that delivers proven value to customers. Former winners come from varying fields such as technology, manufacturing, service (both for profit and not for profit) and retail / distribution, and include companies such as Staples, Ben & Jerry’s, Brooks Automation, Genzyme and iRobot.
“We are honored to be recognized by SBANE as one of the most innovative companies in New England and to be included in such a talented group of leading organizations across a variety of industries. The recognition by the judges of the valuable work our local employees are doing to provide patients and physicians better alternatives to repair cartilage defects is especially rewarding,” stated Adam Gridley, President and Chief Executive Officer of Histogenics.
About Histogenics Corporation
Histogenics is a leading regenerative medicine company developing and commercializing novel tissue therapies that may offer more rapid and durable recoveries for patients with pain and loss of function due to musculoskeletal conditions. Histogenics’ regenerative medicine platform combines expertise in cell processing, scaffolding, tissue engineering and bioadhesives to create tissue ex-vivo . Histogenics’ first investigational product candidate, NeoCart is designed to treat cartilage defects in the knee and is currently in Phase 3 clinical development. NeoCart is designed to exhibit characteristics of articular, hyaline cartilage prior to and upon implantation into the knee and therefore does not rely on the body to make new cartilage. As a result, NeoCart is the only product in development or on the market with a one-year primary superiority endpoint as compared to the standard of care. There are more than 500,000 or more knee cartilage procedures in the United States each year, with many healthy active adults avoiding treatment as they seek other alternatives. Left untreated, even a small cartilage defect can expand in size and progress to debilitating osteoarthritis, ultimately necessitating a joint replacement procedure. Osteoarthritis is more common in adults over the age of 50, but the condition and precursors of the condition can be observed much earlier, and cartilage damage is believed to be one of the leading contributors of this disease. For more information, please visit www.histogenics.com .
About SBANE:
SBANE, founded in 1938, is a private not-for-profit association of approximately 600 member companies located throughout the six-state region. SBANE was established to provide a legislative voice for small business at the state and federal levels and to make practical information available to help business owners grow their companies. SBANE runs diverse, educational programs each year and has active chapters in Massachusetts and Rhode Island. The membership is characterized by a high degree of participation, reflected in a large and dynamic committee structure, addressing a range of topics from international trade to human resources. Visit SBANE at www.sbane.org . #SBANEInnovation
Contact: Investor Relations Tel: +1 (781) 547-7909
