Biomedical Materials, September 1st, 2001
Organogenesis Inc is selling US$10 million in equity to Novartis Pharma AG.
In this way, the US tissue engineering company hopes to add to its general working capital.
Earlier this year, Organogenesis said it signed an amended agreement with Novartis that included granting Organogenesis the right to sell, at its discretion, up to $20 million in equity to Novartis. The company still retains the right to sell Novartis an additional $10 million in equity.
Organogenesis developed a mass-produced product containing living human cells, Apligraf, and gained US Food and Drug Administration (FDA) ...
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