HighCape Partners Growth Equity Fund Launches New Regenerative Medicine Company

Baltimore, Md.-based HighCape Partners, a growth equity fund focused on investing in commercial-stage life sciences companies, has formed and holds a majority interest in newly formed regenerative medicine company, Aziyo Biologics Inc. HighCape partnered with Tissue Banks International (TBI), also in Baltimore, to create a regenerative medicine company focused on best-in-class leadership and technology. New York, N.Y.-based Deerfield Management Co. joined HighCape in providing capital for the transaction.

Aziyo was created with the mission of commercializing next-generation regenerative medicine products to positively impact the greatest number of patients. Kevin Rakin of HighCape, and formerly president of regenerative medicine at Shire plc and chairman and CEO of Advanced BioHealing Inc., will serve as Aziyo’s Executive Chairman. Matt Zuga of HighCape will join the company’s board of directors. TBI will be represented on the board of Aziyo by its Chairman, C. Randal Mills, Ph.D., president and CEO of the California Institute for Regenerative Medicine.

“We are thrilled about the addition of Aziyo to the HighCape Partners portfolio and are excited by the opportunity to build on the success of TBI to create a company that is inspired by its respect for the gift of donation and is committed to scientific and operational excellence in delivering innovative biologic products for use by surgeons and their patients around the world,” said Rakin.

Aziyo commences operations with a substantial set of attributes that form the core of a commercially focused regenerative medicine business:

• The musculoskeletal division of TBI, originally founded in 1995;
• An experienced management team and set of investors with regenerative medicine expertise gained from Advanced BioHealing, Osiris Therapeutics Inc. and Novartis; and
• Long-standing corporate partners and deep product development, biologics processing and distribution expertise.

“For TBI, it is all about best serving those in need,” said Mills. “We share a collective vision with HighCape for Aziyo, which is to significantly change the healthcare landscape as the premier company for regenerative medicine solutions. We are excited to be working with Kevin and the HighCape team to realize this goal. Over the past two decades, we have developed and commercialized tissue products for use in orthopedic, sports medicine and dermal applications, and now we will leverage this expertise to accelerate the Aziyo mission.”