Orgenesis Signs $8.34M Binding Term Sheet for OMPUL Sale and Leaseback with Germfree

Orgenesis Inc.

Germfree to purchase five OMPULs for $6.84M and lease them back to Orgenesis Maryland.
Germfree paid $750K upfront; refundable if definitive agreements not signed within 21 days.
Orgenesis grants exclusive royalty-free license for Quality Management System; $250K due at signing.
Parties to negotiate 10-year exclusive Manufacturing Supply Agreement; additional $250K at signing.
Germfree commits $3.3M in working capital to produce OMPULs as part of the strategic collaboration.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Orgenesis Inc. entered into Binding Term Sheet with Germfree Laboratories LLC valued at $750,000 (effective 2024-02-26).

Action: entry
Agreement: collaboration
Counterparty: Germfree Laboratories LLC
Value: $750,000
Effective: 2024-02-26

Exact text from the filing

On February 26, 2024, Orgenesis Maryland LLC (“Orgenesis Maryland”), a wholly-owned subsidiary of Orgenesis Inc. (the “Company”), entered into a Binding Term Sheet (the “Binding Term Sheet”) with Germfree Laboratories LLC (“Germfree”), for the sale by Orgenesis Maryland of five Orgenesis Mobile Processing Units and Labs (“OMPULs”) to Germfree, which will be incorporated into Germfree’s lease fleet and leased back to Orgenesis Maryland, and a strategic collaboration framework.

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Source: SEC EDGAR

accession 0001493152-24-008483

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