Orgenesis falls, as it says it will acquire Tamir Biotechnology assets

Shares of US biotech firm Orgenesis (Nasdaq: ORGS) were down more than 6% at $4.22 in early trading yesterday, after it announced an agreement to acquire the assets of Tamir Biotechnology (TamirBio), including ranpirnase, the latter’s broad spectrum anti-viral platform.

The acquisition will be completed for total stock and cash consideration valued at about $19 million. Orgenesis plans to combine ranpirnase, trade-named Onconase, with its co-developed Bioxome technology for enhanced payload delivery directly to cells.

TamirBio’s lead asset, ranpirnase, a ribonuclease (RNase), is a member of the superfamily of enzymes that catalyze the degradation of RNA, and mediate several essential biological activities, including the regulation of cell proliferation, maturation, differentiation, and cell death. Therefore, it is a potential candidate for the development of therapeutics for life-threatening diseases, including viral and autoimmune diseases, that require anti-proliferative and apoptotic properties.

Ranpirnase evaluated in Phase I/II genital warts study