Orgenesis (OTC:ORGS) said it raised $3 million after selling stock to institutional investor Kodiak Capital Group.
Orgenesis is developing a novel regenerative medicine technology that converts a diabetic patient’s liver cells into functioning insulin-producing cells.
The White Plains, NY-based company plans to use the newly raised money to fund business development and for general corporate purposes, according to a press release.
“We welcome Kodiak Capital as a strategic partner to help us advance our work towards establishing human clinical trials for our novel cell therapy for insulin dependent diabetes patients,” Orgenesis CEO Sav DiPasquale said in prepared remarks.