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GERMANTOWN, Md., Oct. 16, 2019 (GLOBE NEWSWIRE) -- Orgenesis Inc. (NASDAQ: ORGS) (“Orgenesis” or the “Company”), a leading cell and gene therapy enabling company providing centralized CDMO manufacturing and development services through its subsidiary Masthercell Global, Inc., and localized point-of-care processing and development services, today announced it has entered into a co-development agreement with Accellix, Inc. The agreement will enable Orgenesis to integrate Accellix’s proprietary optic system, cartridges, reagents and software into Orgenesis’ Point of Care (“POCare”) cellular therapy processing services and platform. The integration is designed to further advance Orgenesis’ quality control systems. Financial details are not disclosed.
Orgenesis’ POCare cell therapy platform has been specifically designed to collect, process and supply cells within the patient care location for various therapeutic treatments. The goal of the platform is to reduce the cost and complexity of supplying cell and gene therapies by integrating automated closed systems, processing technologies and unique technologies enabling cell selection, cell processing, cell transfection and quality control sensors. The Accellix assay delivery platform advances the quality control aspects of Orgenesis’ POCare platform by providing actionable multi-parameter results for analyzing and processing live cells.
Vered Caplan, CEO of Orgenesis, stated, “By partnering with Accellix and integrating its advanced optic technologies, cartridges and software, we believe that this will advance Orgenesis’ processing capabilities for different types of cells for our POCare services and platform. We believe the Orgenesis POCare platform can deliver a transformative option to the cell and gene therapy market that will lower costs in order to potentially bring our autologous therapies to patients in a cost effective, high quality and scalable manner.”
Orgenesis is a biotechnology company specializing in the development, manufacturing and provision of technologies and services in the cell and gene therapy industry. The Company operates through two platforms: (i) a point-of-care (“POCare”) cell therapy platform (“PT”) and (ii) a Contract Development and Manufacturing Organization (“CDMO”) platform conducted through its subsidiary, Masthercell Global. Through its PT business, the Company’s aim is to further the development of Advanced Therapy Medicinal Products (“ATMPs”) through collaborations and in-licensing with other pre-clinical and clinical-stage biopharmaceutical companies and research and healthcare institutes to bring such ATMPs to patients. The Company out-licenses these ATMPs through regional partners to whom it also provides regulatory, pre-clinical and training services to support their activity in order to reach patients in a point-of-care hospital setting. Through the Company’s CDMO platform, it is focused on providing contract manufacturing and development services for biopharmaceutical companies. Additional information is available at: www.orgenesis.com.
Accellix Inc. provides assay migration and delivery platform for on demand process analytics. The Accellix system is an assay delivery platform that provides quick, reliable, flow cytometry with multi-parameter results using a small instrument and room temperature stable cartridge. The Accellix platform offers simplicity of use, flexibility and automated data analysis.
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, 2018, 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 contact for Orgenesis:
Crescendo Communications, LLC
Contact for Accellix: