Orgenesis Inc (NASDAQ:ORGS) rose Thursday after announcing that it has agreed to a joint venture with TheraCell Advanced Biotechnology SA for the clinical development and commercialization of cell and gene therapies.
The joint venture will draw on the companies’ combined technical, regulatory and commercial expertise in Greece, other Balkan countries, Cyprus and Turkey to bring advanced therapy medicinal products to patients, according to Orgenesis.
Shares of Orgenesis climbed 0.9% to $5.65 in Thursday’s Nasdaq trading.
Under a master service agreement, Orgenesis will provide regulatory consultancy services, pre-clinical studies and intellectual property services.
TheraCell is a regenerative-biotechnology company with operations in Greece, where its laboratories and primary facilities are located.
The company focuses on autologous cell therapy and regenerative medicine. It has extensive experience in the isolation, processing and application of adipose-derived stem cells, as well as somatic cells, according to Orgenesis.
It has developed a patented platform for tissue engineering and cell therapies in the areas of dermatology, chondral defects and chronic kidney injury, according to Orgenesis.
“TheraCell is an innovator and pioneer in the fields of cell therapy and regenerative medicine,” Orgenesis CEO Vered Caplan said in a statement, adding that her company is working with TheraCell on a project focused on kidney regeneration.
Contact Dennis Fitzgerald at [email protected]