Orgenesis Secures up to $50 Million Subsidiary-Level Investment from Metalmark Capital to Accelerate Growth of Point-of-Care Services

GERMANTOWN, Md., Nov. 07, 2022 (GLOBE NEWSWIRE) — Orgenesis Inc. (NASDAQ:ORGS) (“Orgenesis” or the “Company”), a global biotech company working to unlock the full potential of cell and gene therapies (CGT) at the point of care, and Metalmark Capital Partners (“Metalmark”), a leading private equity firm with extensive expertise in the healthcare sector, today announced an investment partnership whereby Metalmark has agreed to make a growth investment of up to $50 million in Orgenesis’ US-based point of care services subsidiary, Morgenesis LLC (“Morgenesis”). The investment will be made at a pre-money valuation of $125 million, subject to customary adjustments, and will consist of an upfront investment of $30 million and two future investments of $10 million each, subject to the achievement of certain milestones. The initial investment of $30 million will consist of $20 million in cash and conversion of the convertible loan Metalmark previously provided to Morgenesis in August 2022.

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