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 June 28, 2018, the compensation committee (the “Committee”) of the board of directors of Orgenesis Inc. (the “Company”) amended the Company’s 2017 Equity Incentive Plan (the “Plan”) to remove the limit on the number of common stock-based rights that may be awarded by the Committee during any fiscal year to an eligible participant. Prior to such amendment, the Committee could not grant more than 83,333 shares of common stock-based rights under the Plan to an eligible participant during any fiscal year. The amendments were effective upon approval by the Committee.
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.