The strategic alliance aims to drive new-age innovation in wellness & longevity, backed by an investment commitment of up to $10 million over 3 years into both Orgenesis and the newly formed joint venture
GERMANTOWN, Md., Aug. 14, 2024 (GLOBE NEWSWIRE) -- Orgenesis Inc. (NASDAQ: ORGS) (“Orgenesis” or the “Company”), a global biotech company working to unlock the full potential of cell and gene therapies (CGT) in order to improve access and outcomes in healthcare, today announced a strategic partnership agreement with Harley Street Healthcare Group (HSHG) – an innovative and forward-looking healthcare provider focused on delivering world-class, proactive, personalized and preventative health & wellness services, based in London with a global presence. This partnership aims to accelerate the clinical development and commercialization of advanced wellness and longevity therapies and products to a global customer base, aimed at significantly reducing the impact of lifestyle-related illnesses on people’s health.
Under the terms of the agreement, Orgenesis and HSHG will establish a joint venture (JV), with Orgenesis owning 49% and HSHG owning 51% of the entity. The JV will focus on launching innovative health and wellness services, including personalized preventative care and regenerative therapies. The goal is to establish a comprehensive "Health-Wellness-as-a-Service" (HWAAS) model, leveraging HSHG’s established healthcare network and Orgenesis' cutting-edge biotech innovations.
The JV intends to introduce a suite of wellness and longevity products by the end of 2024 that will include immune cell banking, aging and longevity therapies, preventative illness screening, and regenerative therapies using stem cells. The initial rollout will target key global regions, including the United Kingdom, UAE, MENA, Canada, ASEAN, the Balkans, Africa, Latam, and the Indian subcontinent.
In connection with the agreement, HSHG has agreed to invest up to $10 million over three years into Orgenesis and the joint venture.
Vered Caplan, CEO of Orgenesis, commented, “This partnership with Harley Street Healthcare Group marks a significant milestone in Orgenesis’ strategy to expand our footprint in the global wellness market. By combining our expertise in cell and gene therapies with HSHG’s clinical excellence, we are poised to deliver innovative health solutions and our goal will be to redefine patient care and longevity. Importantly, Harley Street has demonstrated its commitment to the JV through a direct investment in both Orgenesis and the JV. We could not be more excited about this collaboration and its potential to rapidly deploy cutting-edge, longevity-focused health and wellness services.”
Sanjeev Kumar, Founder & Chief Visionary Officer of Harley Street Healthcare Group, added, “In our mission to making 90 the new 50 a reality, we are thrilled to collaborate with Orgenesis and have Vered and her team be our strategic partners in this transformative venture. I believe that our shared vision of enhancing health outcomes through innovative therapies and services will pave the way for a new era in personalized medicine and preventative care.”
About Harley Street Healthcare Group
Harley Street Healthcare Group (HSHG), including its brands and subsidiaries, the Harley Club and HARLEY of LONDON, provides integrated health & wellness services to its global client base by bringing together the best of modern medicine, state-of-the-art technological innovations wrapped around the resourcefulness of ancient healing systems. Based in London with a growing global presence, HSHG is focused on being an invested partner in the health & wellness journey of its customers through a proactive, personalized and preventative approach to delivering healthcare, moving away from the current industrial sick care system.
About Orgenesis Orgenesis is a global biotech company that has been committed to unlocking the potential of cell and gene therapies (CGTs) since 2012 as well as a paradigm-shifting decentralized approach to processing since 2020. This new model allows Orgenesis to bring academia, hospitals, and industry together to make these essential therapies a reality sooner rather than later. Orgenesis is focusing on advancing its CGTs toward eventual commercialization, while partnering with key industry stakeholders to provide a rapid, globally harmonized pathway for these therapies to reach and treat a larger numbers of patients more cost effectively and with better outcomes through great science and decentralized production. Additional information about the Company is available at: www.orgenesis.com.
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 timing and amount of HSHG’s investment in our securities, our ability to successfully implement this joint venture with HSHG, the potential delisting of our securities from Nasdaq, our ability to secure additional capital, our reliance on, and our ability to grow our point-of-care cell therapy platform, 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, 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, 2023, 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.
IR contact for Orgenesis: Crescendo Communications, LLC Tel: 212-671-1021 Orgs@crescendo-ir.com
