BRIEF—Greece gives $36 million and fast-track designation to cell and gene JV

In Greece, a joint venture (JV) between USA-based cell and gene therapy firm Orgenesis and Greek regenerative medicine company Theracell Advanced Biotechnology has been designated a “Priority Investment of Strategic National Importance.”

The designation means the JV will be admitted to Greece’s fast-track licensing and approval process.

The JV will also receive a grant of up to 32 million euros ($36 million) from the Greek government, which will be used to accelerate the development of Theracell’s therapies and support process development and manufacturing.

The JV builds on an original agreement, signed by Orgenesis and Theracell in March 2019 and extended in December 2019, to implement Orgenesis’ point-of-care cell therapy platform for clinical development and commercialization in hospital settings.

Orgenesis chief executive Vered Caplan said: “Theracell has proven to be an ideal partner for Orgenesis, contributing extensive experience and capabilities in autologous cell therapy and regenerative medicine, with operations in Greece and strong relationships throughout the region.”