Orgenesis Inc. (OTCQX:ORGS), a global biotech company focused on advancing cell and gene therapies (CGT), has secured an equity investment of up to $5 million from Williamsburg Venture Holdings, LLC. This funding aims to accelerate the rollout of Orgenesis’ decentralized CGT platform, which is designed to improve healthcare access and outcomes.
The agreement stipulates that Orgenesis will initially receive $750,000 upon the effectiveness of a registration statement with the U.S. Securities and Exchange Commission (SEC). The remaining $4.25 million will be accessible over the next two years, allowing the company the flexibility to draw funds as necessary to support its initiatives.
Vered Caplan, CEO of Orgenesis, expressed gratitude for Williamsburg Venture Holdings’ support, emphasizing that this investment aligns with the company’s mission to deliver innovative CGT solutions. Caplan noted that the additional resources would significantly aid in expediting the development and commercialization of their therapeutic pipeline, ultimately aiming to democratize access to life-saving treatments.
The investment agreement includes specific terms regarding share pricing. The purchase price for shares will be set at 90% of the market price, determined by the average of the two lowest Volume-Weighted Average Prices (VWAP) over five consecutive trading days preceding the relevant date. Additionally, Orgenesis has the option to issue an accelerated purchase notice, allowing it to set a purchase price based on that day’s lowest traded price. The details of this equity investment are further elaborated in Orgenesis’ Form 8-K filed with the SEC.
Founded in 2012, Orgenesis is dedicated to unlocking the potential of CGTs through a decentralized processing model introduced in 2020. This innovative approach facilitates collaboration among academic institutions, hospitals, and industry partners, aiming to expedite the availability of essential therapies. The company is actively working towards commercializing its CGTs while partnering with key stakeholders to create a streamlined pathway for these therapies to reach patients more effectively and affordably.
Orgenesis’ POCare platform is central to its strategy, enabling a collaborative network that integrates patients, healthcare providers, and industry players. This model not only enhances clinical development but also supports efficient production processes that can scale rapidly in response to demand.
As Orgenesis continues its growth trajectory with this new investment from Williamsburg Venture Holdings, it remains focused on providing accessible and effective CGT solutions that can transform patient care worldwide.
