Orgenesis has agreed up to $50 million investment from Metalmark Capital in its US-based point of care services subsidiary, Morgenesis.
The investment will consist of an upfront investment of $30 million and two future investments of $10 million each, subject to the achievement of certain milestones.
Morgenesis will use the investment to develop and expand its new POCare Services business globally, but with an initial focus on the United States. This includes the development of additional POCare Centers, as well as the Orgenesis Mobile Processing Units and Labs.
Orgenesis will own the majority of Morgenesis immediately following the initial closing while continuing to support its licensed therapeutic pipeline in fields such as metabolic diseases and virally induced diseases.
“Orgenesis has been developing and delivering cell and gene therapies for patients in an affordable and accessible format at the point of care. We see substantial demand for our POCare services, and this is why we have created a specific subsidiary to manage the delivery of these services through our POCare Network,” said Vered Caplan, CEO of Orgenesis.
