Orgenesis Announces Withdrawal of Proposed Public Offering
October 30 2023 - 9:30PM
Orgenesis Inc. (NASDAQ: ORGS)
(“Orgenesis” or the “Company”), a global biotech company working to
unlock the full potential of cell and gene therapies (CGT), today
announced that it has withdrawn its previously announced proposed
underwritten public offering of securities due to market
conditions.
This press release shall not constitute an offer
to sell or the solicitation of an offer to buy any of the
securities described herein, nor shall there be any sale of these
securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction.
About Orgenesis
Orgenesis is a global biotech company that has
been committed to unlocking the potential of decentralized cell and
gene therapies (CGTs) since 2012. Orgenesis established the POCare
Network in 2020 to bring academia, hospitals, and Industry together
to make these innovations more affordable and accessible to
patients. In 2022, the POCare Services business unit responsible
for developing and managing the decentralized POCare Centers and
proprietary OMPULs was formed. Orgenesis will continue to focus on
advancing to market through various partnership to provide a rapid,
globally harmonized pathway for these therapies to reach and treat
large numbers of patients at lowered costs through efficient,
scalable, 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. All statements other than statements of historical
facts contained herein are forward-looking statements reflecting
the current beliefs and expectations of management made pursuant to
the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995. 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 expected
deconsolidation of Octomera from our consolidated financial
statements, our reliance on, and our ability to grow, our
point-of-care cell therapy platform and OMPUL business, 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, our ability to manage
potential disruptions as a result of the COVID-19 pandemic, 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, 2022,
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.
Investor relations contact for
Orgenesis:Crescendo Communications, LLCTel:
212-671-1021Orgs@crescendo-ir.com
Communications contact for OrgenesisIB
CommunicationsNeil Hunter / Michelle Boxall
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