GERMANTOWN, MD – Orgenesis Inc . (NASDAQ:ORGS), a company specializing in pharmaceutical preparations, announced today significant changes following its 2024 annual meeting of stockholders. The company received approval from its stockholders to amend its 2017 Equity Incentive Plan, increasing the number of shares available for award grants by 9 million. This amendment was part of the company's broader strategy to incentivize and attract talent, as detailed in the proxy statement filed with the SEC on May 6, 2024.
In addition to the expansion of the equity incentive plan, the company also reported the departure of three board members. Guy Yachin, Dr. David Sidransky, and Mario Philips did not stand for re-election, and their tenure on the board concluded as of June 27, 2024. Orgenesis clarified that their departure did not stem from any disagreements regarding the company’s operations, policies, or practices.
During the same meeting, stockholders elected five nominees to the board of directors, each set to serve a one-year term until the 2025 annual meeting. The elected directors are Vered Caplan, Yaron Adler, Ashish Nanda, Curtis Slipman, and Mark Goodman. Kevin Choquette, initially a director nominee, withdrew his candidacy two days before the meeting.
Furthermore, the stockholders ratified the appointment of Kesselman & Kesselman C.P.A.s, a member firm of PricewaterhouseCoopers International Limited, as the independent registered public accounting firm for the fiscal year ending December 31, 2024.
These corporate updates are based on the latest 8-K filing by Orgenesis Inc. and aim to provide shareholders with insights into the company’s governance and incentive structures. The decisions made at the annual meeting reflect the company’s commitment to aligning the interests of its employees and directors with those of its shareholders.
In other recent news, Orgenesis, a biotech company, has made strategic moves to bolster its financial position and expand operations. The company secured a $2.3 million investment and entered into a strategic collaboration expected to generate over $8 million in initial payments. Orgenesis regained full ownership of Octomera, a strategic CGT processing subsidiary, and received non-dilutive grants totaling €3.5M EUR from the Walloon Government in Belgium. These recent developments reflect the company's commitment to making cell and gene therapies more accessible and affordable.
Orgenesis has also partnered with Germfree in a strategic collaboration and asset purchase agreement. The partnership aims to make cell and gene therapy treatments more affordable and accessible by leveraging Germfree's expertise in modular cleanroom environments and Orgenesis's capabilities in therapeutic programs and services. The collaboration will focus on co-marketing Orgenesis's decentralized Octomera service platform and its Octomera Mobile Processing Units and Labs on a global scale. This partnership marks a significant milestone for the bio-manufacturing industry, signaling a shift towards distributed processing of cell and gene therapies. The collaboration is expected to foster innovation, particularly in digital workflows and advanced quality management systems, and set a new standard for the industry.
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