Israeli medical products developer Regentis Biomaterials has filed for a $15M US initial public offering.
While Regentis didn’t specify the number or pricing of the securities to be offered, it said that it would be offering units, with each unit consisting of one share plus one warrant to buy one share. The company hopes to raise around $15M.
Regentis hopes to list its shares on Nasdaq. Maxim Group is serving as sole bookrunner on the deal.
Based in Israel, Regentis has developed a hydrogel called GelrinC that can help regenerate damaged knee cartilage. The product received European approval as a medical device in 2017. Regentis is currently seeking a strategic partner in Europe to help bring the product to market. It also plans to seek FDA approval for the product.
Regentis currently has no products on the market. For 2021, the company reported a net loss of $5M and no revenue.
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