Date: 2014-11-24
Type of information: Grant
Company: Orgenesis SPRL (Belgium) Orgenesis (USA - NY)
Investors: Walloon Region (Belgium)
Amount: € 2,015 million
Funding type: grant
Planned used: The grant will support a program for the research and development of a potential cure for Type 1 Diabetes. Orgenesis is pioneering work in developing technology to successfully reprogram human liver cells into glucose-responsive, fully functional Insulin Producing Cells (IPCs). The objective of the European program is to continue the development of a cGMP (Current Good Manufacturing Practice) and implement it on a high-efficiency industrial scale, which will enable Orgenesis to obtain functional Insulin Producing Cells (IPC) in large quantities from the livers of patients suffering from Type 1 Diabetes.
Others: * On November 24, 2014, Orgenesis SPRL, a subsidiary of Orgenesis Inc, a leader in the emerging fields of cellular therapy and regenerative medicine, announced that it has received the formal approval from the Walloon Region, Belgium (Service Public of Wallonia, DG06) for a € 2,015 million support program for the research and development of a potential cure for Type 1 Diabetes. The Financial support is composed of a € 1,085,000 (70% of budgeted costs) grant for the industrial research part of the research program and a further recoverable advance of € 930,000 (60% of budgeted costs) of the experimental development part of the research program. The grants will be paid to Orgenesis over a period of approximately 3 years. The grants are subject to certain conditions respecting our conducting the work in the Walloon Region, our own investment in these projects and certain other conditions.
Therapeutic area: Metabolic diseases
