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Revenue increases 96% to $7.7 million for 2020
Projects to more than double in revenue for 2021 based on current contracts already in hand
Orgenesis to host conference call today at 8:30AM ET
GERMANTOWN, Md., March 09, 2021 (GLOBE NEWSWIRE)
. (NASDAQ:ORGS) ( Orgenesis or the Company ), a global biotech company working to unlock the full potential of cell and gene therapies (CGTs), today reported financial results for the year ended December 31, 2020 and provided a business update.
Vered Caplan, CEO of Orgenesis, commented, Just over a year ago, we completed the sale of one of our business divisions, which provided centralized manufacturing subcontracting services to cell and gene biotech companies. This activity was incorporated in the Masthercell subsidiary, a contract development manufacturing organization (CDMO). The CDMO was sold for $315 million, generating approximately $127 million of proceeds to Orgenesis. We determined it was the right time to sell Masth
Orgenesis Inc expecting revenue to more than double in 2021 as it updates on growth strategy
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Orgenesis Mobile Processing Units and Labs (OMPULs) to be Used for Point-of-Care Production and Commercialization of Cell and Gene Therapies in Collaboration with Dong-a University Hospital and Cure Therapeutics in South Korea
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