Orgenesis: Surges on deal to acquire Koligo Therapeutics

Orgenesis

29/09/2020 12:19

** Shares of regenerative therapy co  ORGS.O  jump 11.8% to
$5.58 premarket
    ** ORGS to buy Koligo Therapeutics for $15 mln in stock,
expect to complete deal before year-end  urn:newsml:reuters.com:*:nGNX67RqB0
    ** ORGS will issue shares to Koligo investors at $7/share
and assume $1.3 mln in liabilities 
    ** After deal close, co plans to accelerate commercial
scaleup of Koligo's KYSLECEL cell therapy treatment throughout
U.S. and international markets
    ** Deal also gives ORGS access to Koligo's 3D-V bioprinting
technology that prints three-dimensional cell and tissue
constructs
    ** Through Monday's close, ORGS shares were up 7.1% YTD

 (Reporting by Lasya Priya M)
 ((LasyaPriya.M@thomsonreuters.com;))