On August 7, 2020 Orgenesis Inc. (NASDAQ: ORGS) ("Orgenesis" or the "Company"), a pioneering, global biotech company committed to accelerating commercialization and transforming the delivery of cell and gene therapies (CGTs), reported a business update for the second quarter ended June 30, 2020 (Press release, Orgenesis, AUG 7, 2020, View Source [SID1234563158]).

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Vered Caplan, CEO of Orgenesis, stated, "We continue to implement our Point of Care (POCare) cell and gene therapy strategy, including the expansion of our network, as evidenced by the expected revenue growth. Revenue for the second quarter of 2020 increased 55% to $1.7 million compared to $1.1 million for the second quarter of 2019. We have also maintained a solid balance sheet with over $97.5 million of cash and cash equivalents as of June 30, 2020. Our true progress can be seen in the advancement of our POCare Therapeutics pipeline, including immuno-oncology, metabolic, and anti-viral therapies. Our mission is to make these therapies available to large numbers of patients at reduced costs using the point-of-care model. Our POCare Network also continues to grow via new partnerships with leading hospitals and research institutes around the world."

"We have made progress towards our goal of adapting our cell-based and antiviral technologies to address the COVID-19 pandemic. First, we are focused on advancing our cell-based vaccine platform in order to target COVID-19, as well as other potential existing and emerging viral diseases. Second, we recently launched our BioShield Program, which is designed to potentially accelerate discovery and set up a first line of defense against the spread of viral pathogens, such as COVID-19. And finally, we are engaging with industry partners for the development of Ranpirnase for the potential treatment of COVID-19, as well as other viruses."

The Company remained active through the second quarter and into the third quarter of 2020, reporting the following recent advances:

Entered into a Collaboration Agreement with Educell Ltd., a premier European cell therapy company, to conduct clinical validation of the POCare Technologies for the expansion of T-cells in a whole cell-based vaccine platform for use in cancer immunotherapies.
Entered into a Clinical Study Agreement with The Edith Wolfson Medical Center, a leading public hospital in Israel, to conduct a joint clinical study to validate the partnered POCare Technologies.
Advanced development of a novel cell-based vaccine platform targeting COVID-19 and other existing and emerging viral diseases; plans to commence animal testing trials with human testing expected to follow pending clearance from the FDA and/or other non-US regulatory bodies.
Launched the BioShield Program to accelerate the potential discovery and validation of neutralizing human antibodies as an affordable solution to contain the spread of a viral pathogen or new emerging outbreaks.
Signed a preliminary agreement with Leidos, a FORTUNE 500 science and technology leader, to develop, and potentially obtain, FDA marketing approval of Ranpirnase for the systemic treatment of patients suffering from SARS-CoV-2, the virus that causes COVID-19.
The Company’s complete financial results are available in the Company’s Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on August 6, 2020, which is available at www.sec.gov and on the Company’s website.