Regentis Biomaterials Raises $6.5M via $3.50 Share Private Placement with $4.20 Warrants
RGNT•Regentis Biomaterials priced a $6.5 million private placement of 1,857,143 shares (or pre-funded warrants) at $3.50 each alongside warrants exercisable at $4.20, expected to close June 23. Proceeds will support the pivotal GelrinC U.S. trial, FDA pre-market approval preparation, manufacturing scale-up, European market entry and working capital.
1. Private Placement Terms
Regentis Biomaterials entered definitive agreements to issue 1,857,143 ordinary shares (or pre-funded warrants) at $3.50 per share (or $3.4999 per pre-funded warrant) plus ordinary warrants to purchase the same number of shares at $4.20. The offering targets gross proceeds of approximately $6.5 million and is expected to close on or about June 23, 2026.
2. Use of Net Proceeds
Net proceeds will fund the pivotal U.S. clinical trial for GelrinC, preparation of the FDA pre-market approval submission, manufacturing scale-up, regulatory affairs and intellectual property protection, European Medical Device Regulation compliance and market entry activities, as well as working capital and general corporate purposes.
3. GelrinC Development Status
GelrinC, a cell-free hydrogel implant for focal knee cartilage repair, holds CE Mark approval in the EU and is over 50% enrolled in its pivotal U.S. FDA study. The off-the-shelf, 10-minute procedure offers sustained pain relief and functional improvement based on current clinical data.
