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 USD 126.7 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.
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.”
Noah Rhodes, Managing Director at Great Point Partners, commented, “We have been continually impressed by Orgenesis and the management team’s thorough understanding of the industry, foresight and leadership, which enabled Masthercell’s rapid expansion to become an industry-leading and best-in-class contract development manufacture organization (CDMO). We are grateful to have partnered with Orgenesis through our investment in Masthercell and wish Orgenesis continued success with their point-of-care cell therapy platform.”
Source: Biospace
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