Medavate to Acquire Neocart Assets

May 20, 2019

Medavate Corp. (“Medavate”), announced that it has entered into an asset purchase agreement pursuant to which Medavate will acquire substantially all of the assets related to the NeoCart platform (the “assets”) from Histogenics Corporation (“Histogenics”) in cash, for a total transaction value of approximately $6.5 million.  The closing of the sale of the Assets is subject to and conditioned upon, among other things, a vote of Histogenics’ stockholders approving such transaction and other closing conditions. The closing of the transaction is expected to take place later in 2019.

The acquisition of the assets related to the NeoCart platform will serve to form the basis for Medavate’s leading precision healthcare division, whereby Medavate will provide an integrated and coordinated continuum of care that provides better solutions to patients including early diagnosis, prevention and regenerative and curative treatment solutions. 

“As we develop the Medavate platform, the addition of NeoCart will serve as a cornerstone of our regenerative medicine and precision health division,” stated Michael K. Handley, Chairman of Medavate Corp.  “The long clinical and manufacturing history of NeoCart may provide patients and surgeons compelling pain and functional improvements not served by current therapies. The recent Phase 3 NeoCart trial and data, with market leading meaningful outcomes as early as 6 month and 1 year, have been received favorably by patients and surgeons and we look forward to being able to partner with leading clinicians and scientists to commercialize this product”

“As regenerative medicine starts to come into mainstream clinical practice Medavate has positioned itself as a world leader by acquiring a cutting edge personalized cellular therapy platform, NeoCart, and developing it for potentially millions of patients suffering from pain and disabilities,” stated Stephen Shaya, M.D. Medavate Board Member and Managing Director of J&B Medical.



See the latest posts on our homepage


Topic Area: Press Release

Recent Posts
Recent Posts
Focus: Infection Control

Creating an N95 mask disinfection facility for less Than $15,000

Health system is offering a free instruction manual


Focus: Infection Control

Healthcare cook stitches masks for customers at Pittsburgh hospital during pandemic

Her design includes pockets!


ASHE offers guidance for COVID recovery

The pandemic’s impact on the physical environment has offered challenges and lessons


Focus: Infection Control

Houston hospital installs touchless temperature cameras

The cameras can scan whoever crosses their path, alerting users instantly if an elevated temperature is present


Becker's names 100 great hospitals in America for 2020

The hospitals were selected for inclusion based on analysis of ranking and award agencies, including U.S. News & World Report's 2019-20 rankings, CareChex, Healthgrades, CMS star ratings, Leapfrog grades and IBM Watson Health top hospitals


Post Comment


News & Updates • Webcast Alerts • Building Technologies

All fields are required.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.