GERMANTOWN, Md., Jan. 11, 2018 (GLOBE NEWSWIRE) — Orgenesis Inc., (OTCQB:ORGS), a vertically-integrated biopharmaceutical company with expertise and unique experience in gene and cell therapy and regenerative medicine, today announced it has entered into a non-binding licensing and supply agreement-in-principle with Humavox Ltd. (“Humavox”) and MirCod for the development of key technology related to biological sensing with wireless charging for Orgenesis’ clinical development and manufacturing projects. The parties expect to complete due diligence and execute a definitive agreement within 45 days.
The combined technologies of Humavox and MirCod intend to further strengthen Orgenesis’ competitive edge by optimizing processes to achieve higher yields and better capture data, reduce cost and improve product quality.
Orgenesis intends to develop this technology with Humavox and MirCod for its in-house clinical development programs and will further out-license the technology to its subsidiaries including MaSTherCell and affiliates.
Humavox is a private Israel-based company that develops a Radio Frequency (RF)-based wireless charging technology for consumer and enterprise technology. Humavox’s wireless technology platform, ETERNA™, is tangibly implemented through a charging station that is designed freely to most naturally fit the user’s instinctive habits and a small receiver that can be easily inserted into the smallest of electronic devices.
MirCod’s technology enables developers to connect various sensors without complex integration and unnecessary delays for electronics integration, code writing, visualization and core hardware development. The monitoring sensor platform can measure the evolution of pH in the medium, glucose consumption, oxygen and other factors key to optimizing growth of cell cultures. Data is monitored and recorded in real-time and stored securely for further evaluation.
A fully integrated approach for monitoring and powering the monitors ensures that there is no contamination because it maintains a closed environment and no loss of power to sensors.
The technology is presented this week at the Consumer Technology Association Innovation show in the Las Vegas Convention Center, South Hall 3, Booth# 31567.
Vered Caplan, Chief Executive Officer of Orgenesis, stated, “Combining MirCod’s sensor technology with Humavox’s wireless charging technology approach enables the continuous monitoring of cell cultures in a closed biological growth environment. As we are advancing our efforts in optimizing the manufacturing process for our own diabetic therapy, we are excited to make these technology advancements available to other cell therapies through Masthercell and our JVs.”
Orgenesis intends to source the wireless charging receiver IC (Rx ASIC) and wireless charging transmitter IC (Tx ASIC) directly from Humavox or from its semiconductor partner, Asahi Kasei Microdevices, at the sole discretion and guidance of Humavox.
Humavox is an innovative developer of groundbreaking technology in the field of wireless power. With its ETERNA platform, Humavox uses near-field radio frequency (RF) technology, and provides users with a simple and intuitive charging experience (“drop & charge”). The technology can be implemented in the smallest of devices, such as wearables and IoT devices. Humavox was founded in 2010 by Omri Lachman and Asaf Elssibony, and is based in Israel. For more information, visit http://www.humavox.com.
MirCod Technology consists of a team of entrepreneurs with a combined experience of 48 years in RF electronics, system-on-a-chip design technology, software development and business operations in the USA, Canada, Israel, and Russia. MirCod Technology enables developers to connect various sensors without complex integration and unnecessary time waste for electronics integration, code writing, visualization and core hardware development. It emphasizes the analytical features of its open source platform and revolutionizes the digital health care industry. The MirCod team believes that today's remote monitoring technology isn't sufficiently advanced to predict a potential adverse event and alert a monitoring provider before disaster strikes. Its mission is to enhance these technologies and bring to the market an “ease of use” remote monitoring technology platform that enables continuous, configurable, wireless acquiring of bio-metric parameters from the human body. MirCod was founded in 2015 by Michael Fainshtein and partners, and is based in Israel, Canada and Russia. For more information, visit http://www.mircod.com
Orgenesis is a vertically-integrated biopharmaceutical company with expertise and unique experience in cell therapy development and manufacturing. Through its Israeli subsidiary, Orgenesis Ltd., Orgenesis is a pioneer in the development of technology designed to successfully reprogram human liver cells into glucose-responsive, fully functional, Insulin Producing Cells (IPCs). Orgenesis believes that converting the diabetic patient's own tissue into insulin-producing cells has the potential to overcome the significant issues of donor shortage, cost and exposure to chronic immunosuppressive therapy associated with islet cell transplantation. Through its Belgian subsidiary, MaSTherCell S.A., a global Contract Development and Manufacturing Organization (CDMO), Orgenesis is able to deliver optimized process industrialization capacities to cell therapy organizations, and speed up the arrival of their therapies onto the market. From technology selection to business modeling, GMP manufacturing, process development, quality management and assay development, MaSTherCell's teams are fully committed to helping their clients fulfill their objective of providing sustainable and affordable therapies to their patients. MaSTherCell operates in a validated and flexible facility located in the strategic center of Europe within the Walloon healthcare cluster, Biowin. This integrated approach supports the Company's business philosophy of bringing to market significant life-improving medical treatments. For more information, visit www.orgenesis.com.
Notice Regarding Forward-Looking Statements
This press release contains forward-looking statements that involve substantial uncertainties and risks. These forward-looking statements 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 risk that we will not finalize agreements with either of MirCod or Humavox or both, the sufficiency of working capital to realize our business plans, the realization of our development plans even if agreements are concluded, the development of our regeneration technology as therapeutic treatment for diabetes which could, if successful, be a cure for Type 1 Diabetes; our technology not functioning as expected; our ability to retain key employees; our ability to satisfy the rigorous regulatory requirements for new procedures; our competitors developing better or cheaper alternatives to our products and the risks and uncertainties discussed under the heading "RISK FACTORS" in Item 1 of our Annual Report on Form 10-K for the fiscal year ended November 30, 2016, 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.
Edison Advisors (investors)