GERMANTOWN, Md., March 12, 2018 (GLOBE NEWSWIRE) -- Orgenesis Inc., (OTCQB:ORGS), a manufacturer, service provider and developer of advanced cell therapies, today announced that its common stock has been approved for listing on the NASDAQ Capital Market (“NASDAQ”).
Trading on NASDAQ is expected to commence on March 13, 2018 under the current trading symbol, ORGS.
Vered Caplan, Chief Executive Officer of Orgenesis, stated, “The transition to NASDAQ is another great step in our corporate development and comes during a period of rapid expansion, highlighted by the growth of our services to marquee customers in the fields of cell and gene therapy, with a strong focus on the production of T cells for immuno-oncology therapies for leading companies in this space. As their cell manufacturing partner, we expect a number of these customers to have the potential to generate revenue for Orgenesis as they progress their cutting-edge therapies from clinical trials to commercialization. This listing on NASDAQ provides us with greater exposure within the investment community as we attempt to execute on key milestones in the months and years ahead.”
About Orgenesis
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. This integrated approach supports the Company's business philosophy of bringing to market significant life-improving medical treatments. For more information, visit www.orgenesis.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, our ability to raise additional capital when needed, the sufficiency of working capital, our ability to achieve profitability, 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, 2017, 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.
Contacts
Edison Advisors (investors)
Tirth Patel
646-653-7035
tpatel@edisongroup.com