Orgenesis Inc. (NASDAQ: ORGS) (“Orgenesis” or the “Company”), today announced that Catalent Pharma Solutions has agreed to acquire
Masthercell Global, Inc., a contract development manufacturing
organization (CDMO) subsidiary of Orgenesis backed by Great Point
Partners and SFPI-FPIM. Orgenesis anticipates that it will receive
proceeds of approximately $127 million resulting from the transaction.
The transaction is expected to close during the current fiscal first
quarter of 2020. Orgenesis expects to use the net proceeds from the sale
of Masthercell to continue to grow its point-of-care cell therapy
business and to further the development of Advanced Therapy Medicinal
Products. Additional details on the transaction will be available in the
Company’s Current Report on Form 8-K filed today with the Securities
and Exchange Commission at www.sec.gov and on the Company’s website at: https://ir.orgenesis.com/all-sec-filings.
Vered Caplan, Chief Executive Officer of Orgenesis,
stated, “We are very proud of the developments and accomplishments at
Masthercell Global, which has become a best-in-class contract
development and manufacturing organization (CDMO) servicing many of the
leading cell and gene therapy companies. We are also grateful to Great
Point Partners and SFPI-FPIM for their tremendous support. Since we
completed our acquisition of Masthercell Global in 2015, the business
has grown rapidly along with this burgeoning industry. With Catalent’s
expertise and resources, we believe Masthercell Global will be well
positioned to continue on its current trajectory in order to meet the
evolving needs of the industry. We believe the resources provided to
Orgenesis by this transaction will enable us to significantly accelerate
our point-of-care (“POCare”) cell therapy platform and we look forward
to providing further updates.”
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