EXCLUSIVE: Orgenesis Acquires Control of Octomera, Takes One Step Closer To Progressing Its Decentralized Immuno-Oncology Portfolio To Clinic
Portfolio Pulse from Vandana Singh
Orgenesis Inc (NASDAQ:ORGS) has acquired an additional 25% stake in its cell processing services subsidiary, Octomera, from MM OS Holdings, an affiliate of Metalmark Capital Partners, achieving 100% ownership. Metalmark will receive a 5% royalty on Octomera's net revenue from 2025-2027 and a portion of proceeds in case of a change of control within ten years. Orgenesis CEO Vered Caplan highlighted the support from FDA and EMEA regulators for decentralized production, which aligns with the company's approach.
January 31, 2024 | 1:45 pm
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Orgenesis Inc has completed the acquisition of the remaining stake in Octomera, taking full control of the subsidiary. This move could enhance the company's immuno-oncology portfolio and streamline operations. The deal includes future royalties and proceeds to Metalmark, indicating a strong belief in Octomera's potential.
The acquisition of the remaining stake in Octomera by Orgenesis is a significant strategic move, likely to be viewed positively by investors as it consolidates the company's assets and could accelerate the progression of its immuno-oncology portfolio. The mention of regulatory support for decentralized production suggests a favorable industry trend that Orgenesis is well-positioned to capitalize on. The deal structure with Metalmark also implies confidence in the future revenue potential of Octomera's services.
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