Orgenesis Secures an Additional $5 Million Investment from Metalmark Capital to Accelerate Growth of Point-of-Care Service Subsidiary
2023年5月10日 - 11:00PM
Orgenesis Inc. (NASDAQ: ORGS)
(“Orgenesis” or the “Company”), a global biotech company working to
unlock the full potential of cell and gene therapies (CGT) at the
point of care, and Metalmark Capital Partners (“Metalmark”), a
leading private equity firm with extensive expertise in the
healthcare sector, today announced that Metalmark has agreed to
make an additional growth investment of $5 million into Orgenesis’
US-based point-of-care (POCare) services subsidiary, Morgenesis LLC
(“Morgenesis”). This investment follows the previously announced
investment of $30 million in November 2022. In addition, Metalmark
has committed to investing up to an additional $15 million, subject
to the achievement of certain milestones.
Morgenesis was formed last year to streamline
all existing POCare Service business units into one unified entity,
bringing together a full-service range of solutions for therapeutic
developers to produce treatments at the point of care. Morgenesis
provides solutions from initial process development, regulatory
strategy and implementation, full cGMP processing and supply of
therapeutic products to patients at the point of care, to clinical
trial design and management. It further supports full cGMP process
development, including closing and automating the process for
point-of-care treatments, via the Orgenesis Mobile Processing Units
and Labs ("OMPULs”).
Orgenesis will continue to own the majority of
Morgenesis following this latest investment, while maintaining full
ownership of the Therapeutics division, with its licensed
therapeutic pipeline developing products in various fields such as
metabolic diseases and virally induced diseases.
“We remain enthusiastic about Morgenesis’
differentiated point of care model and commercial momentum, and we
look forward to continuing to support Vered Caplan and the entire
Morgenesis team as it expands globally and in the United States,”
said Howard Hoffen, Chairman and CEO of Metalmark. “
“We greatly appreciate the continued support of
Metalmark as we continue to execute our stated strategy of
developing and delivering cell and gene therapies for patients in
an affordable and accessible format at the point of care. This
additional investment will further propel our growth as we expand
our global operations and add key personnel, enabling us to
capitalize on the substantial demand for our POCare services. We
look forward to Metalmark’s continued support,” said Vered Caplan,
CEO of Orgenesis.
Morgenesis will use the additional capital to
support the development of additional POCare Centers, as well as
the OMPULs in both the U.S. and international markets. The OMPULs
are designed to provide biotech companies and hospital systems with
a global cGMP supply for their cell and gene therapy products at
the point of care, with the ability to rapidly grow and scale cell
and gene treatments to keep up with ever-increasing demand.
For further details on the transaction, please
refer to the Company's Form 8-K filed with the Securities and
Exchange Commission on May 10, 2023.
About Metalmark
CapitalMetalmark Capital is a leading private equity firm
that seeks to build long-term value through active and
collaborative partnerships with business owners, founders and
executives. The firm focuses its investment activity in healthcare,
agribusiness, and industrials. Metalmark Capital manages funds with
$3 billion in aggregate capital commitments. For more information,
please visit www.metalmarkcapital.com.
About OrgenesisOrgenesis is a
global biotech company working to unlock the full potential of cell
and gene therapies (CGTs) in an affordable and accessible format at
the point of care. The Orgenesis POCare Platform is comprised of
three enabling components: a pipeline of licensed POCare
Therapeutics that are processed and produced in closed, automated
POCare Technology systems across a collaborative POCare Network.
Orgenesis identifies promising new therapies and leverages its
POCare Platform to provide a rapid, globally harmonized pathway for
these therapies to reach and treat large numbers of patients at
lowered costs through efficient, scalable, and decentralized
production. The POCare Network brings together patients, doctors,
industry partners, research institutes and hospitals worldwide to
achieve harmonized, regulated clinical development and production
of the therapies. www.orgenesis.com.
Notice Regarding Forward-Looking
Statements This press release contains forward-looking
statements which are made pursuant to the safe harbor provisions of
Section 27A of the Securities Act of 1933, as amended, and Section
21E of the Securities and Exchange Act of 1934, as amended. These
forward-looking statements involve substantial uncertainties and
risks and 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, our reliance on, and our ability to
grow, our point-of-care cell therapy platform and OMPUL business,
our ability to achieve and maintain overall profitability, our
ability to manage our research and development programs that are
based on novel technologies, our ability to control key elements
relating to the development and commercialization of therapeutic
product candidates with third parties, the timing of completion of
clinical trials and studies, the availability of additional data,
outcomes of clinical trials of our product candidates, the
potential uses and benefits of our product candidates, our ability
to manage potential disruptions as a result of the COVID-19
pandemic, the sufficiency of working capital to realize our
business plans and our ability to raise additional capital, the
development of our POCare strategy, our trans differentiation
technology as therapeutic treatment for diabetes, the technology
behind our in-licensed ATMPs not functioning as expected, our
ability to further our CGT development projects, either directly or
through our JV partner agreements, and to fulfill our obligations
under such agreements, our license agreements with other
institutions, our ability to retain key employees, our competitors
developing better or cheaper alternatives to our products, risks
relating to legal proceedings against us and the risks and
uncertainties discussed under the heading "RISK FACTORS" in Item 1A
of our Annual Report on Form 10-K for the fiscal year ended
December 31, 2021, 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.
IR contact for Orgenesis:Crescendo
Communications, LLCTel: 212-671-1021Orgs@crescendo-ir.com
Communications contact for
OrgenesisIB CommunicationsTel +44 (0)20 8943
4685orgenesis@ibcomms.agency
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