Dear Shareholders and Friends of Histogen,
Histogen was founded in 2007 with a vision to develop innovative products that redefine regenerative medicine. Although the company has experienced its share of triumphs and challenges since its founding, the one constant throughout the company’s history has been its commitment to developing high value therapeutic and aesthetic products which harness the healing powers of our body’s own stem cells. It was this commitment to innovation that attracted me to join the company as Chairman and CEO in late January.
I have spent more than 25 years leading organizations in transition, most recently serving as CEO of Apricus Biosciences, where we obtained European regulatory approval for our lead asset and subsequently completed a successful merger with Seelos Therapeutics. Over the course of my career, I have been responsible for raising over $250 million in equity capital, leading an IPO process as Lead Director for a specialty pharmaceutical company, and leading multiple business development transactions valued at over $2 billion. A link to my full bio is here. My intent is to leverage that experience as I guide the company through its next stages of clinical, corporate, and financial growth with the goal of maximizing shareholder value.
Looking forward, we have several important milestones ahead of us to include reporting safety and tolerability data from our Phase 1 clinical trial of HSC660 in female diffuse hair loss, obtaining regulatory guidance for our HSC hair loss program, completing our outstanding financial audits and completing a full review and assessment of our pipeline opportunities. In addition, we are pursuing potential partnerships in the retail skin care segment which we believe will further validate our technology and bring precious non-dilutive capital into the company to fuel our growth.
Finally, I am proud to announce two exciting updates on the corporate development front. First, we recently expanded our relationship with our aesthetics skincare partner Allergan through an amended license to include certain new exclusive and non-exclusive channels. This transaction is expected to fund the company through the end of 2019 and accelerate the timing of certain commercial milestone payments with the expected launch of two new products containing our multipotent cell conditioned media within the SkinMedica TNS skin care line, including a dual serum that showed unprecedented anti-aging benefits in Allergan’s clinical study. Second, we recently terminated our partnership with PUR Biologics, resulting in Histogen regaining full control of our ECM products in several important areas of therapeutic interest such as orthopedics and wound healing. Following a strategic review of these opportunities, we plan on selecting and advancing one or more into the clinic.
In closing, I am incredibly proud of the progress we have made this year and I look forward to sharing further news and updates with you throughout the year. Thank you for your continued support!
Richard W. Pascoe
Chairman & Chief Executive Officer