Date: 2015-03-09
Type of information: Company acquisition
Acquired company: MaSTherCell (Belgium)
Acquiring company: Orgenesis (Israel/USA - NY)
Amount: $ 24.6 million
Terms: * On March 9, 2015, Orgenesis, a leader in the emerging fields of cellular therapy and re-generative medicine for the treatment of Type 1 Diabetes, announced the Company’s plan to increase its global presence and capabilities by acquiring MaSTherCell, an emerging pioneer in the industrialization of cell-based therapeutics, based in Gosselies, Belgium. This acquisition will allow Orgenesis to accelerate the transition of its lead product, Autologous Insulin Producing Cells (AIPCs) being developed as a therapeutic for Type 1 Diabetes, from pre-clinical testing into clinical trials. It will also diversify the companu business model and future product offering.
Orgenesis entered into a share exchange agreement with MaSTherCell SA and Cell Therapy Holding SA (collectively “MaSTherCell”) and each of the shareholders of the MaSTherCell, which provides for the acquisition by the Company of all of the issued and outstanding shares of MaSTherCell in exchange for the issuance of $24,593,000 in value of shares of common stock in the capital of the Company. Both businesses will remain operationally independent, but will become strategically aligned in ways that maximize technical, financial and management synergies.
Details:
Related: Manufacturing Production Technology - Services Regenerative Medicine
