Histogen CEO Gail Naughton, pictured, says that a lawsuit brought on by SkinMedica has canned an angel investment of $2.4M into her company. Xconomy broke the story today when they said that Histogen had to axe ALL 36 of its employees due to the lack of funding.

Yikes.

SkinMedica’s complaint, filed in the United States District Court for the Southern District of California, seeks relief against Histogen’s “Nouricel” product line for infringing SkinMedica’s U.S. Patents No. 6,372,494 (filed in 1999) and/or 7,118,746 (filed in 2000).

CEO Gail Naughton said this:

“The lawsuit really took us by surprise, particularly because it was an infringement suit that was filed when we don’t even have a product on the market. It really cut us off at the knees.”

Get this, about 20 employees have VOLUNTEERED to continue working despite the layoffs – crazy! Get paid man. What’s so special about Histogen anyway? Tell us.

Image from cityofhope

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