Hemogenyx-Cell17 Feb 2020 12:59
Orgenesis (NASDAQ:ORGS) the company that previously invested $1m into Hemogenyx-Cell, the subsidiary working on Hu-PHEC, have just received $130m cash from the sale of one of their subsidiaries.
In a news release on Friday ORGS said
"Orgenesis expects to use the net proceeds from the Sale to continue to grow its point-of-care cell therapy business and to further the development of Advanced Therapy Medicinal Products."
There must be a good chance ORGS will seek to 'top-up' a few of its investments in the cell therapy area, or maybe even buy a few outright?
The previous investment in Hemogenyx-Cell was at a valuation of $12m, so perhaps $15m-20m and a small royalty would be acceptable to buy the whole subsidiary? I note there was no mention at all of Hu-PHEC in the recent funding announcement, nor any mention of its current status or HEMO's plans for it in the patent news last week when there was the perfect opportunity to do so.
Any thoughts?