GERMANTOWN, Md., Feb. 05, 2019 (GLOBE NEWSWIRE) -- Orgenesis Inc. (NASDAQ: ORGS), a developer of advanced cell therapies, manufacturer and service provider, today announced the opening of new offices and laboratories at Accessia Pharma in Liège, Belgium for its Belgian subsidiary, Orgenesis SPRL, in order to support its Point of Care (“POCare”) Cellular Therapy platform. Orgenesis is supported by its partners: Theracell (Greece), Hemogenyx (UK), Serpin (USA), to further expand cellular therapy development in the Walloon Region of Belgium.
Orgenesis’ goal is to utilize its know-how and intellectual property in order to advance new autologous cell therapies to a clinical stage and enable POCare cell therapy development and services. POCare cell therapy is directed to the process of collecting, processing and administering cells within the patient care setting for therapeutic treatment of patients.
Orgenesis is strategically positioned through two of its subsidiaries in the Walloon Region of Belgium, as part of its international network:
- MaSTherCell Belgium, a member of its CDMO segment through Masthercell Global, which was acquired by Orgenesis in 2015 and is growing rapidly having doubled its manufacturing capacities in 2018, with more than 145 employees.
- Orgenesis SPRL is active in the autologous cell therapy and service segment with a strong focus on advancing the Company’s novel and proprietary autologous trans-differentiation cell therapy technologies for the treatment of diabetes and other potential indications.
Vered Caplan, CEO of Orgenesis, stated, “We are excited to further expand in the Walloon Region of Belgium, a leading center for talent and R&D within Europe. The opening of our new offices and laboratories at Accessia Pharma will strengthen the roll-out of our POCare strategy across Europe. We are honored to work closely with a number of leading international partners and believe they will greatly benefit from our expanded European activity within the supportive Walloon Region. Our objective is to rapidly build out our global POCare network and view this new center as a significant starting location in Europe.”
Efrat Assa Kunik, General Manager of Orgenesis SPRL Belgium, commented, “We believe that through our POCare strategy, we can significantly reduce development costs through joint ventures with local partners who bring strong regional networks. These networks include partnerships with local hospitals, which allows us to engage in continuous in-licensing of autologous therapies from academia and research institutes, and the utilization of hospital networks for the clinical development of new therapies.”
About Orgenesis
Orgenesis is a service and research company in the regenerative medicine industry with a focus on Advanced Therapeutic Medicinal Products (“ATMP”) development, manufacturing and supply. The Company operates through two platforms including (i) an autologous POCare cellular therapy development platform and (ii) a Contract Development and Manufacturing Organization (“CDMO”) platform. Through the POCare development platform, Orgenesis is focused on the development of proprietary cell therapies, including an autologous trans-differentiation technology and therapeutic collaborations and licensing with other pre-clinical and clinical-stage biopharma companies and research and healthcare institutes. Through the CDMO platform, Orgenesis is focused on manufacturing and development services for other biopharma companies. The CDMO platform operates through Masthercell Global, which currently consists of MaSTherCell in Belgium, Atvio in Israel and subsidiaries in South Korea and in the United States, each having unique know-how and expertise for manufacturing in a multitude of cell types. These capabilities offered to third-parties are also utilized for internal development projects, with the goal of allowing Orgenesis to bring new products to patients faster and in a cost-effective way. Additional information is available at: 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, the success of our reorganized CDMO operations, the success of our partnership with Great Point Partners, our ability to achieve and maintain overall profitability, the sufficiency of working capital to realize our business plans, the development of our transdifferentiation 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 1A 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.
Contact for Orgenesis:
David Waldman
Crescendo Communications, LLC
Tel: 212-671-1021
Orgs@crescendo-ir.com