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Orgenesis Inc. Announces Acquisition of Certain Neurocords LLC Assets, Strengthening its Regenerative Medicine Portfolio with Spinal Cord Injury Therapies
Strategic Acquisition Designed to Expand Access to Cost-Effective, Scalable Regenerative Medicine Treatments
GERMANTOWN, MD / ACCESS Newswire / March 6, 2025 / Orgenesis Inc. (OTCQX: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 the acquisition of certain Neurocords LLC's ("Neurocords") assets related to advanced regenerative medicine therapies for spinal cord injuries (SCI). The global spinal cord injury treatment market size was valued at $7.5 billion in 2023 and is projected to reach $11.2 billion by 2031 according to Data Bridge Market Research,
Neurocords' technology now purchased by the Company, differentiates induced pluripotent stem cells (iPSC) into spinal cord neurons leveraging Orgenesis's decentralized approach to cell processing, which is designed to expedite capacity setup, enhance production efficiency, and reduce treatment costs. This allows therapies to reach a larger number of patients more cost-effectively and with better outcomes.
"Having an autologous SCI therapy is complementary to Orgenesis's existing portfolio of autologous cell therapeutic technologies. Neurocords' innovative research utilizing stem cell therapy for neural regeneration represents an important field of cell therapy," said Vered Caplan, CEO of Orgenesis. "By integrating the technology now purchased from Neurocords and combining this with our MIDA Technology of AI-based generation of autologous stem cells, we hope to provide an autologous neural cell production platform. This is an additional product that integrates into our decentralized cell processing approach, which we believe may accelerate development of this transformative technology as an affordable treatment for patients suffering from spinal cord injuries. The ability to generate autologous neurons may have use for additional indications."
Ross Mason, Chairman of Neurocords, added, "Neurocords has spent significant time developing technology to produce neurons for spinal cord injury treatment. Orgenesis has assisted us by providing its expertise in advancing this technology toward the clinical stage, and we have been highly impressed by their capability and dedication to making cell therapies both safe and affordable. They have been a committed partner, supporting our development efforts at every stage. Over the development period, we have built a large clinical network for spinal cord injury, working alongside the VA and other key stakeholders to ensure that patients worldwide have access to groundbreaking therapies."
The acquisition is structured as an equity transaction, with Orgenesis issuing 1,200,000 shares of common stock to Neurocords or its designated recipients in consideration for the purchased assets. Additional details about the transaction are available in the Company's form 8-K, which has been filed with the Securities and Exchange Commission and is available on the Company's website.
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 number 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 on information available to us as of the date of this release. Forward-looking statements include, but are not limited to, statements regarding, the development and commercialization of our POCare platform, our pipeline, and our decentralized CGT platform. We caution readers that forward-looking statements are predictions based on our current expectations about future events and are not guarantees of future performance. Actual results, performance, or achievements may differ materially from those expressed or implied in the forward-looking statements due to various factors, including, but not limited to, our reliance on our point-of-care cell therapy platform, our ability to achieve and maintain profitability, outcomes of clinical trials, timing of clinical trial completions, the potential uses of our product candidates, our ability to manage potential disruptions, sufficiency of working capital, 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 other filings with the U.S. Securities and Exchange Commission. We undertake no obligation to revise or update any forward-looking statements for any reason.
