Orgenesis Announces Name Change of Morgenesis Business Unit to Octomera
July 11 2023 - 6:00AM
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,
today announced the name change of the POC Services business from
Morgenesis to Octomera, effective June 30, 2023, to reflect the
growth and focus on providing advanced cell and gene therapy (CGT)
services, facilities, and technologies. Morgenesis was originally
formed in 2022 to separate Orgenesis’ existing POCare Service and
supply solutions from the other operations of Orgenesis. A new
Octomera website and rebranding will be unveiled throughout the
second half of 2023.
In addition, the Company announced that MM OS Holdings, L.P.
(“MM”), an affiliate of Metalmark Capital Partners (“Metalmark”), a
leading private equity firm with extensive expertise in the
healthcare sector, has deployed additional funds into Octomera. The
capital from the MM investment is for the continued development of
POCare Centers with a focus on expanding in the US market.
Octomera is focused on changing the paradigm of centralized cell
and gene therapy (CGT) production to produce treatments in a
decentralized point of care manner. Octomera provides the supply
and development of decentralized services utilizing the POCare
Network of POCare Centers deployed independently and in partnership
with academic institutes, hospitals, and industry partners. POCare
Centers within the Network are harmonized and standardized by
Octomera.
“The centralized biotech manufacturing model simply does not
translate to efficient or cost-effective CGT production within the
clinical development stage, and even less so for approved
products,” said Vered Caplan, CEO of Orgenesis. “We have been
working for years to reduce the complexity and cost of development
and commercialization of CGT products via decentralization, and
this rebranding as Octomera with the support of Metalmark marks a
major milestone for both Orgenesis and Octomera. As a result of our
efforts, investments, and foresight, we have now built a broad and
growing POCare Network of centers across the US, Europe, and other
regions, where our services can be rapidly scaled up to meet the
growing demand across the industry.”
“Our strong process development capabilities coupled with our
growing number of POCare sites enable us to decentralize the supply
of cell and gene therapies. By initially developing a robust
production process programmed into our proprietary, agnostic, and
flexible OMPULs (Octomera Mobile Production Units and Labs), the
production can be efficiently scaled and transferred to various
locations in the network,” Caplan continued. “Through these steps,
we are clearly executing on our strategy to make CGT products and
services more accessible, affordable, and available to patients
than traditional centralized models of CGT production.”
POCare centers and OMPULs are designed to standardize CGT
production processes for quality and regulatory compliance with the
ability to scale to full cGMP processing across the globe at a
lower cost. A GMP team with significant practical experience
oversees the centers and OMPULs and works to implement advanced
quality management and IT solutions. Uniquely, OMPULs can be
deployed and operational in 2-3 months within an existing structure
or in available outdoor space, and production capacity can easily
be scaled via additional units. The interior can be purpose-built
to include GMP-compliant production space, with options for quality
control labs and warehouse spaces.
“Metalmark is pleased to support the launch of Octomera as the
company reiterates its focus on providing standardized,
decentralized, cost-effective development and production of CGT
products,” said Howard Hoffen, Chairman and CEO of Metalmark.
To learn more about Octomera, connect with the team at
contact@octomera.com.
About Orgenesis
Orgenesis is a global biotech company that has been committed to
unlocking the potential of decentralized cell and gene therapies
(CGTs) since 2012. Orgenesis established the POCare Network in 2020
to bring academia, hospitals, and Industry together to make these
innovations more affordable and accessible to patients. In 2022,
the POCare Services business unit responsible for developing and
managing the decentralized POCare Centers and proprietary OMPULs
was formed. Orgenesis will continue to focus on advancing to market
through various partnerships its CGTs 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. Additional information about the
Company is available at: www.orgenesis.com.
Notice Regarding Forward-Looking StatementsThis
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 expected deconsolidation of
Octomera from our consolidated financial statements, 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, 2022, 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.
Investor relations contact for
Orgenesis:Crescendo Communications, LLCTel:
212-671-1021Orgs@crescendo-ir.com
Communications contact for OrgenesisIB
CommunicationsNeil Hunter / Michelle BoxallTel +44 (0)20 8943
4685
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