Orgenesis Appoints Finance Veteran Elliot Maltz as its Chief Financial Officer

GERMANTOWN, Md., July 13, 2023 (GLOBE NEWSWIRE) -- Orgenesis Inc. (NASDAQ:ORGS) ("Orgenesis" or the "Company"), a global biotech company working to unlock the full potential of cell and gene therapies (CGT) at the point of care, today announced the appointment of Elliot Maltz as Chief Financial Officer, effective September 1, 2023. Mr. Maltz succeeds Mr. Neil Reithinger, who is resigning following years of dedicated service and will remain with the Company until he completes his transition of duties, through September 1, 2023.

Mr. Maltz brings 16 years of accounting and corporate finance experience working with public and private companies, specializing in the biotechnology, medical device and manufacturing industries. Mr. Maltz, previously served as the Chief Financial Officer of Gelesis, Inc., a commercial stage biotherapeutics company, since May 2021 and as its Treasurer since May 2015. As Chief Financial Officer, Mr. Maltz led numerous fundraising and operational initiatives, including the efforts to take Gelesis, Inc. public through a SPAC merger in January 2022, whereupon he became the Chief Financial Officer and Treasurer of Gelesis Holdings, Inc. Prior to his appointment as the Chief Financial Officer, Mr. Maltz was Gelesis, Inc.'s Vice President of Finance and previously served as its Corporate Controller. Prior to joining Gelesis, Inc., Mr. Maltz served as an external auditor at Deloitte & Touche LLP from January 2007 to April 2013 and as a manager of the technical accounting and SEC reporting function at Sapient Corp. from April 2013 to March 2014. Mr. Maltz received a B.S. in Business Finance from Elon University and is a licensed CPA in the state of Massachusetts.

Vered Caplan, CEO of Orgenesis, stated, "I am honored to announce the appointment of Elliot Maltz as Chief Financial Officer, which is especially timely as we enter the next phase of our growth. Elliot brings extensive corporate finance and capital markets experience. We look forward to his insights and guidance on our corporate strategy and financial planning, as well as his involvement in helping maintain the highest levels of corporate governance. The Company and Board of Directors would also like to express our sincere gratitude and appreciation to Neil Reithinger for his significant contributions over the years."

About Orgenesis

Orgenesis is a global biotech company that has been committed to unlocking the potential of decentralized cell and gene therapies (CGTs) since 2012. Orgenesis established the POCare Network in 2020 to bring academia, hospitals, and Industry together to make these innovations more affordable and accessible to patients. In 2022, the POCare Services business unit responsible for developing and managing the decentralized POCare Centers and proprietary OMPULs was formed. Orgenesis will continue to focus on advancing to market through various partnerships its CGTs to provide a rapid, globally harmonized pathway for these therapies to reach and treat large numbers of patients at lowered costs through efficient, scalable, and decentralized production. Additional information about the Company is available at: www.orgenesis.com.

Notice Regarding Forward-Looking Statements

This press release contains forward-looking statements which are made pursuant to the safe harbor provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended. These forward-looking statements involve substantial uncertainties and risks and are based upon our current expectations, estimates and projections and reflect our beliefs and assumptions based upon information available to us at the date of this release. We caution readers that forward-looking statements are predictions based on our current expectations about future events. These forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties and assumptions that are difficult to predict. Our actual results, performance or achievements could differ materially from those expressed or implied by the forward-looking statements as a result of a number of factors, including, but not limited to, the expected deconsolidation of Octomera from our consolidated financial statements, our reliance on, and our ability to grow, our point-of-care cell therapy platform and OMPUL business, our ability to achieve and maintain overall profitability, our ability to manage our research and development programs that are based on novel technologies, our ability to control key elements relating to the development and commercialization of therapeutic product candidates with third parties, the timing of completion of clinical trials and studies, the availability of additional data, outcomes of clinical trials of our product candidates, the potential uses and benefits of our product candidates, our ability to manage potential disruptions as a result of the COVID-19 pandemic, the sufficiency of working capital to realize our business plans and our ability to raise additional capital, the development of our POCare strategy, our trans differentiation technology as therapeutic treatment for diabetes, the technology behind our in-licensed ATMPs not functioning as expected, our ability to further our CGT development projects, either directly or through our JV partner agreements, and to fulfill our obligations under such agreements, our license agreements with other institutions, our ability to retain key employees, our competitors developing better or cheaper alternatives to our products, risks relating to legal proceedings against us and the risks and uncertainties discussed under the heading "RISK FACTORS" in Item 1A of our Annual Report on Form 10-K for the fiscal year ended December 31, 2022, and in our other filings with the Securities and Exchange Commission. We undertake no obligation to revise or update any forward-looking statement for any reason.

Investor relations contact for Orgenesis:

Crescendo Communications, LLC

Tel: 212-671-1021

[email protected]

Communications contact for Orgenesis

IB Communications

Neil Hunter / Michelle Boxall

Tel +44 (0)20 8943 4685