ORGENESIS INC. (OTCMKTS:ORGS) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
On May 14, 2018, the compensation committee of the Board of Directors of Orgenesis Inc. (the "Company") approved a grant of options under the Company’s 2017 Equity Incentive Plan (the “2017 Plan”) to Denis Bedoret, the General Manager of MaSTherCell S.A., to purchase 15,000 shares of the Company’s common stock, par value $0.0001 per share (the “Common Stock”). The options have a ten-year term and are scheduled to vest on a quarterly basis, in eight equal quarterly installments, beginning with the quarter ending June 30, 2018. The options have an exercise price per share equal to $8.43, which was the closing price per share of the Company's Common Stock on May 14, 2018, the grant date.
About ORGENESIS INC. (OTCMKTS:ORGS)
Orgenesis Inc. is a regenerative therapy company. The Company operates through two segments: Contract Development and Manufacturing Organization (CDMO) and Cellular Therapy Business (CTB). The CDMO activity is operated by the Company’s subsidiary, MaSTherCell SA, which specializes in cell therapy development for advanced medicinal products. MaSTherCell is providing two types of services to its customers: process and assay development services and good manufacturing practice (GMP) contract manufacturing services. The CTB activity is based on its technology that demonstrates the capacity to induce a shift in the developmental fate of cells from the liver and differentiating (converting) them into pancreatic beta cell-like insulin producing cells for patients with Type I Diabetes. It intends to advance a product that combines cell-based therapy and regenerative medicine, Autologous Insulin Producing (AIP) cells, into clinical development.