MasTherCell (Gosselles) bought by Orgenesis for 24.5 million dollars
Tuesday, 10 March 2015
Orgeneisis Inc, the Israeli company based in the United States, announced it has bought MasTherCell in a press release. MasTherCell specialises in producing stem cells for therapeutic use, and is based in Gosselles. Orgenesis works with emerging cellular therapy methods and regenerative medicine for the treatment of type 1 diabetes. The transaction is worth 24,593,000 dollars (around 22.6 million euros). “The acquisition of MasTherCell has added value to both companies”, says Verd Caplan, President and CEO of Orgenesis. “It allows us to skip a step in the production of our main product, Autologous Insulin Producing Cells (AIPCS), which are developed to treat type 1 diabetes. It also allows us to diversify our business model and our future range”, he added. He also said that the two companies would continue to work independently but would adopt the same strategy with regard to technology, finances, and management.
The two companies have already worked together in the past on production strategy. Despite the acquisition, MasTherCell will continue to supply its products to other firms that use cellular therapy. “Cellular therapy has become much more important over the last few years. This is especially true in the sectors of regenerative medicine, ex-vivo gene therapy, and cancer immunotherapy”, says Hugues Bultot, MasTherCell CEO. “Research and development in these sectors have progressed a lot. The deal with Orgenesis will allow us to continue to provide a unique service, but on a bigger scale. That should allow us to enter the international stage, and, more importantly, join the public markets”.
MasTherCell is a spin-off of the ULB, created in Autumn 2011. It employs 34 people.