Orgenesis climbs after selling its unit to Catalent

Orgenesis

03/02/2020 16:06

** Shares of regenerative therapy co Orgenesis Inc  ORGS.O 
jump 8% at $5.56 to touch more than 1-year high
    ** Contract drugmaker Catalent Inc  CTLT.N  says it will buy
ORGS's unit MaSTherCell Global for about $315 mln  urn:newsml:reuters.com:*:nBw6mGkLxa
    ** Orgenesis expects proceeds of ~$127 mln from deal, and 
intends to use proceeds to grow its point-of-care cell therapy
business  urn:newsml:reuters.com:*:nGNX2Sjqt0
    ** "Catalent's backing will position MaSTherCell for growth
and enhance Catalent's existing presence in Belgium," says
MaSTherCell CEO Darren Head
    ** Catalent shares jump 2.4% at $62.57
    ** MaSTherCell's 240 employees will become part of CTLT
    ** Orgenesis stock rose ~5% in the last year

 (Reporting by Trisha Roy in Bengaluru)
 ((Trisha.Roy@thomsonreuters.com; within U.S. +1 646 223 8780,
outside U.S. +91 80 6182 3635;))