Orgenesis Inc. Announces Acceptance of Technology by U.S. Patent Office
WHITE PLAINS, NY -- (MARKET WIRE) -- 03/20/12 -- Orgenesis Inc. (OTCBB: ORGS) ("Orgenesis" or the "Company"), a development stage company with a novel therapeutic technology to convert a patient's own liver cells into functional insulin-producing cells as a treatment for diabetes, is pleased to announce the acceptance of a key technology patent authored by Orgenesis' Chief Science Officer Prof. Sarah Ferber with the issuance of U.S. Patent Office (USPTO) number 8119405 effective as of February 21, 2012.
The patent titled "Methods of inducing regulated pancreatic hormone production in non-pancreatic islet tissues" documents the primary technology that Orgenesis has licensed and aims to move forward to clinical trials aimed at developing an approved human therapy in the treatment of diabetes.
Diabetes Mellitus (DM) is a metabolic disorder, usually caused by a combination of hereditary and environmental factors, and resulting in abnormally high blood sugar levels (hyperglycemia). DM results from impaired insulin production by the pancreatic islet cells. The most common types of the disease are type-1 DM (T1DM) and type-2 DM (T2DM).
Currently, the only available treatment modality is insulin infusion (injection, pumps or patches). However, these treatments do not succeed in preventing or delaying disease-related severe and potentially lethal complications.
It is commonly accepted that the ideal therapy for IDDM (Insulin Depended Diabetes Mellitus) patients is beta cell replacement. There are three essential steps toward developing a curative beta cell replacement treatment:
1. A source of beta cells must be identified;
2. The patient's immune system must be convinced not to attack those cells; and
3. The cells must be delivered into a suitable location in the body so they can exert effective control over blood glucose.
Orgenesis is developing a therapeutic technology that overcomes these three preconditions. The technology involves the use of a patient's own mature tissue to generate functional insulin-producing autologous cells by inducing developmental redirection.
Company CEO Jacob BenArie states, "The issuance of the patent is a material fact we deem highly important for the future success of our efforts. We still have a ways to go to prove the concept, but if successful, we believe the treatment of diabetes will undergo a radical, game-changing shift for the betterment of everyone suffering from this crippling disease. Our efforts in the coming months are focused on moving towards clinical trials aimed at ensuring the efficacy of the treatment. We are all very pleased by the issuance of the patent, and are encouraged that our efforts could deliver significant value to the Company and its shareholders."
Further details of the Company's business, finances, appointments and agreements can be found as part of the Company's continuous public disclosure as a reporting issuer under the Securities Exchange Act of 1934 filed with the Securities and Exchange Commission's ("SEC") EDGAR database. For more information visit: www.orgenesis.com.
About Orgenesis Inc. (OTCBB: ORGS)
Orgenesis is a development stage company with a novel therapeutic technology that employs a molecular and cellular approach directed at converting a patient's own liver cells into functional insulin-producing cells, as a treatment for diabetes. The Company believes that converting the diabetic patient's own tissue into insulin-producing cells overcomes the problem of donor shortage and removes the risk of transplant rejection. If successful, this could mean the end of diabetes as we now know it. For more information visit: www.orgenesis.com.
Notice Regarding Forward-Looking Statements
Certain statements in this news release are forward-looking statements, which reflect the expectations of management regarding the Company's intention to move forward to clinical trials aimed at developing an approved human therapy; that the Company's therapeutic technology overcomes the three preconditions; the importance of the patent for the future operations of the Company; the Company's belief that the treatment of diabetes will undergo a radical, game-changing shift for the betterment of everyone suffering from this crippling disease; and the Company's efforts in the coming months. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. These forward-looking statements reflect management's current views and are based on certain expectations, estimates and assumptions which may prove to be incorrect, wholly or partially. A number of risks and uncertainties could cause our actual results to differ materially from those expressed or implied by the forward-looking statements, including: (1) the Company's inability to develop the AIPC regeneration technology, for any reason, (2) the Company's ability to raise the funds necessary to develop the AIPC regeneration technology, (3) competition from other forms of therapy; and (4) compliance with all required government regulation. Technology that works in the laboratory may not work as well as expected in humans. In addition, substantial health care regulations may prevent our technologies from ever coming to market. These forward-looking statements are made as of the date of this news release and, except as required by law, the Company assumes no obligation to update these forward-looking statements, or to update the reasons why actual results differed from those projected in the forward-looking statements.
On Behalf of the Board
Vered Caplan, Chairperson
Contact: Investor Relations Crescendo Communications, LLC Email: firstname.lastname@example.org Tel: +1-877-560-9060 Web: www.orgenesis.com
Source: Orgenesis Inc.
Released March 20, 2012