RE: Orgenesis RNS Just Out..15 May 2020 14:14
Vered Caplan, CEO of Orgenesis, commented, “Earlier this year, we completed the sale of Masthercell for approximately $127 million in net proceeds. Not only does this transaction strengthen our balance sheet, but it clearly illustrates our ability to create significant value for shareholders. Nevertheless, we are even more excited about the growth prospects now for our Cell & Gene Therapy (CGT) Biotech Platform, which we believe provides a pathway for groundbreaking autologous therapies to become commercially available on an industrial scale and at prices accessible to large populations. Since the beginning of this year alone, we are making significant traction building our pipeline of advanced POCare Therapeutics, broadening our suite of POCare Technologies, and expanding our POCare Network with some of the leading hospitals and research institutes in the world. I truly believe Orgenesis is well positioned to lead the CGT industry by lowering costs, accelerating commercialization and transforming the delivery of CGTs. For this reason, we are excited to announce board approval for the stock buyback at this time given the current share price, which we do not believe reflects the underlying value of the business. Between upcoming catalysts and opportunistic share repurchases, we are committed to maximizing long-term shareholder value.”