Full Press Release Details
Orgenesis Announces a Strategic Corporate Regrouping of its
CDMO Activities Under the Global MaSTherCell Brand & Service Offerings
MaSTherCell and Global CDMO Partners will be Presenting the
New Global Branding at the Phacilitate Cell & Gene Therapy Meeting in Miami
GERMANTOWN, MD, -- January 22, 2017 -- (GLOBE NEWSWIRE) --
Orgenesis Inc., (OTCQB:ORGS), a vertically-integrated biopharmaceutical company
with expertise and unique experience in gene and cell therapy production and
regenerative medicine, today announced a strategic organizational regrouping of
its CDMO global manufacturing services offerings. The planned CDMO regrouping
will utilize the global MaSTherCell brand, except for At-Vio Biotech Ltd.
( At-Vio ) for its unique technology and innovation activity located in Israel
and serving the global cell & gene therapy markets. The primary purpose of
the strategic regrouping is to create a more efficient CDMO corporate
organization that can optimally utilize resources from the parent, Orgenesis
Inc., and more efficiently broaden, streamline and harmonize the CDMO service
offerings on a global basis utilizing the quality and standards of our flagship
Belgian-based subsidiary, MaSTherCell S.A.
In connection with this and in order to align its CDMO
activities, Orgenesis Inc. plans to transfer to a newly formed and wholly-owned
Delaware-based holding company, named MaSTherCell Global Inc. ( MaSTherCell
Global ), its interests in MaSTherCell S.A., as well as in its current joint
venture partners in Israel and Korea.
Denis Bedoret, General Manager of MaSTherCell, stated, We are
proud of the outcome of the collaborative effort of our global teams to ensure
that the MaSTherCell brand and quality becomes internationally available. This
is a significant step to provide our customers with a global and harmonized
service offerings, and we all look forward to presenting the network this week
Vered Caplan, Chief Executive Officer of Orgenesis Inc., added,
We are excited to see that our investments in expanding MaSTherCell s activity
on a global level is maturing and bringing value to this important industry
which will hopefully benefit patients world-wide by accelerating the market
availability of needed therapies.
About Orgenesis Inc.
Orgenesis Inc. (Orgenesis) is a vertically-integrated
biopharmaceutical company with expertise and unique experience in cell therapy
development and manufacturing. Through its Israeli subsidiary, Orgenesis Ltd.,
Orgenesis is a pioneer in the development of technology designed to successfully
reprogram human liver cells into glucose-responsive, fully functional, Insulin
Producing Cells (IPCs). Orgenesis believes that converting the diabetic
patient's own tissue into insulin-producing cells has the potential to overcome
the significant issues of donor shortage, cost and exposure to chronic
immunosuppressive therapy associated with islet cell transplantation. Through
its Belgian subsidiary, MaSTherCell S.A., a global Contract Development and
Manufacturing Organization (CDMO), Orgenesis is able to deliver optimized
process industrialization capacities to cell therapy organizations, and speed up
the arrival of their therapies onto the market. From technology selection to
business modeling, GMP manufacturing, process development, quality management
and assay development, MaSTherCell's teams are fully committed to helping their
clients fulfill their objective of providing sustainable and affordable
therapies to their patients. MaSTherCell operates in a validated and flexible
facility located in the strategic center of Europe within the Walloon healthcare
cluster, Biowin. Orgenesis is in the process of consolidating into its reformed
corporate structure its Israel based CDMO partner, At-Vio Biotech Ltd., and its
Korean based CDMO partner, Curecell Co. Ltd., thereby expanding globally the
availability of the MaSTherCell brand and service offering. This global
integrated approach supports the Company's business philosophy of bringing to
market significant life-improving medical treatments. For more information,
visit www.orgenesis.com.
| Edison Advisors (investors) |
| Tirth Patel |
| 646-653-7035 |
| tpatel@edisongroup.com |
Notice Regarding Forward-Looking Statements
This press release contains forward-looking statements that
involve substantial uncertainties and risks. These forward-looking statements
are based upon our current expectations, estimates and projections and reflect
our beliefs and assumptions based upon information available to us at the date
of this release. We caution readers that forward-looking statements are
predictions based on our current expectations about future events. These
forward-looking statements are not guarantees of future performance and are
subject to risks, uncertainties and assumptions that are difficult to predict.
Our actual results, performance or achievements could differ materially from
those expressed or implied by the forward-looking statements as a result of a
number of factors, including, but not limited to, the risk that our planned
corporate CDMO regrouping will not in fact be implemented or if implemented will
not achieve its intended results, the difficulties in establishing our
MaSTherCell brand in the global arena, the sufficiency of working capital to
realize our business plans, the development of our regeneration technology as
therapeutic treatment for diabetes which could, if successful, be a cure for
Type 1 Diabetes; our technology not functioning as expected; our ability to
retain key employees; our ability to satisfy the rigorous regulatory
requirements for new procedures; our competitors developing better or cheaper
alternatives to our products and the risks and uncertainties discussed under the
heading "RISK FACTORS" in Item 1 of our Annual Report on Form 10-K for the
fiscal year ended November 30, 2016, and in our other filings with the
Securities and Exchange Commission. We undertake no obligation to revise or
update any forward-looking statement for any reason.