Document:

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                                                                    EXHIBIT 10.2

                                                                  EXECUTION COPY

                         REGISTRATION RIGHTS AGREEMENT

     THIS REGISTRATION RIGHTS AGREEMENT (this "Agreement") is made and entered
into as of September 28, 2001, between Organogenesis, Inc., a corporation
organized and existing under the laws of the State of Delaware (the "Company"),
and Novartis Pharma AG, a corporation organized under the laws of Switzerland
("Novartis", or individually and with its permitted successors and assigns, the
"Investor").  This Agreement is made pursuant to the Securities Purchase
Agreement, dated as February 23, 2001 among the Company and the Investor (the
"Securities Purchase Agreement").  Capitalized terms used herein and not
otherwise defined herein shall have the respective meanings set forth in the
Securities Purchase Agreement.

     WHEREAS, in order to induce the Company to enter into the Securities
Purchase Agreement and to induce the Investor to invest funds in the Company
pursuant to the Securities Purchase Agreement, the Investor and the Company
hereby agree that this Agreement shall govern the rights of the Investor to
cause the Company to register for resale the shares of Common Stock issuable to
the Investor and certain other matters as set forth herein:

     NOW, THEREFORE, the parties hereto mutually agree as follows:

     SECTION 1.  DEFINITIONS.  As used in this Agreement, the following terms
shall have the following meanings:

     "Advice" shall have the meaning set forth in Section 3.

     "Affiliate" means, with respect to any Person, any other Person that
directly or indirectly controls or is controlled by or under common control with
such Person.  For the purposes of this definition, "Control," when used with
respect to any Person, means the possession, direct or indirect, of the power to
direct or cause the direction of the management and policies of such Person,
whether through the ownership of voting securities, by contract or otherwise;
and the terms of "Affiliated," "Controlling" and "Controlled" have meanings
correlative to the foregoing.

     "Business Day" shall mean any day, other than a Saturday, Sunday or one on
which banks are authorized by law to close in New York, New York.

     "Closing(s)" shall have the meaning set forth in the Securities Purchase
Agreement.

     "Closing Date(s)" shall have the meaning set forth in the Securities
Purchase Agreement.

     "Commission" means the Securities and Exchange Commission.

     "Common Stock" means the Company's Common Stock, par value $.01 per share,
and any other common equities issued by the Company, and any other shares of
stock issued or issuable with respect thereto (whether by way of a stock
dividend or stock split or in exchange for or in replacement of such shares or
otherwise in connection with a combination of shares, recapitalization, merger,
consolidation or other corporate reorganization).
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     "Effectiveness Date" means the forty-fifth (45th) day following the
applicable Filing Date.

     "Effectiveness Period" shall have the meaning set forth in Section 2(a).

     "Exchange Act" means the Securities Exchange Act of 1934, as amended.

     "Filing Date" means the tenth Business Day following any Closing Date if
the Resale Registration Statement is not effective as of such Closing Date;
provided, that, if the Resale Registration Statement is effective as of any
Closing and subsequently the effectiveness of such Resale Registration Statement
is suspended or otherwise withdrawn or limited by the Commission, the Filing
Date shall mean the tenth Business Day following such action by the Commission.

     "Holder" or "Holders" means the holder or holders, as the case may be, from
time to time of Registrable Securities including, without limitation, the
Investor.

     "Indemnified Party" shall have the meaning set forth in Section 5(c).

     "Indemnifying Party" shall have the meaning set forth in Section 5(c).

     "Investor" has the meaning specified in the Introduction to this Agreement.

     "Losses" shall have the meaning set forth in Section 5(a).

     "Person" means an individual or a corporation, partnership, trust,
incorporated or unincorporated association, joint venture, limited liability
company, joint stock company, government (or an agency or political subdivision
thereof) or other entity of any kind.

     "Proceeding" means an action, claim, suit, investigation or proceeding
(including, without limitation, an investigation or partial proceeding, such as
a deposition), whether commenced or threatened.

     "Prospectus" means the prospectus included in the Registration Statement
(or Resale Registration Statement, as the case may be) (including, without
limitation, a prospectus that includes any information previously omitted from a
prospectus filed as part of an effective registration statement in reliance upon
Rule 430A promulgated under the Securities Act), as amended or supplemented by
any prospectus supplement, with respect to the terms of the offering of any
portion of the Registrable Securities covered by the Registration Statement (or
Resale Registration Statement, as the case may be), and all other amendments and
supplements to the Prospectus, including post-effective amendments, and all
material incorporated by reference or deemed to be incorporated by reference in
such Prospectus.

     "Register," "Registered" and "Registration" refer to a registration
effected by preparing and filing one or more registration statements of the
Company in compliance with the Securities Act and the declaration or ordering of
effectiveness of such registration statement(s) by the Commission.

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     "Registrable Securities" means shares of Common Stock held by the Investor
at any time (it being understood that for the purposes of this Agreement, a
Person will be deemed to be a holder of Registrable Securities whenever such
Person has the right to acquire or obtain from the Company any Registrable
Securities, whether or not such acquisition has actually been effected)
including, without limitation, the Underlying Shares issuable upon conversion or
redemption (as applicable) of the Preferred Stock or the Convertible Notes shall
be deemed Registrable Securities, whether or not such issuance has actually been
effected.

     "Registration Statement" means the registration statements contemplated by
Section 2(a), including (in each case) the Prospectus, amendments and
supplements to such registration statement or Prospectus, including pre- and
post-effective amendments, all exhibits thereto, and all material incorporated
by reference or deemed to be incorporated by reference in such registration
statement.

     "Resale Registration Statement" means the registration statements
contemplated by Section 2(c), including (in each case) the Prospectus,
amendments and supplements to such registration statement or Prospectus,
including pre- and post-effective amendments, all exhibits thereto, and all
material incorporated by reference or deemed to be incorporated by reference in
such registration statement.

     "Rule 144" means Rule 144 promulgated by the Commission pursuant to the
Securities Act, as such Rule may be amended from time to time, or any similar
rule or regulation hereafter adopted by the Commission having substantially the
same effect as such Rule.

     "Rule 158" means Rule 158 promulgated by the Commission pursuant to the
Securities Act, as such Rule may be amended from time to time, or any similar
rule or regulation hereafter adopted by the Commission having substantially the
same effect as such Rule.

     "Securities Act" means the Securities Act of 1933, as amended.

     Section 2.  Registration.  (a) Mandatory Registration.  On or prior to each
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Filing Date, the Company shall prepare and file with the Commission a
Registration Statement covering all or any such portion of the Registrable
Securities issued at the Closing and any other Registrable Securities
beneficially owned by the Investor as the Investor shall specify by written
notice given to the Company.  The Registration Statement shall be on Form S-3
pursuant to Rule 415 of the Securities Act or any successor rule providing for
the offering of securities on a continuous basis (except if otherwise directed
by the Investor in accordance herewith or if the Company is not then eligible to
register for resale the Registrable Securities on Form S-3 pursuant to Rule 415,
then such registration shall be on any available form as determined by the
Investor).  The Company shall (i) not permit any securities other than the
Registrable Securities to be included in the Registration Statement and (ii) use
its best efforts to cause the Registration Statement to be declared effective
under the Securities Act as promptly as possible after the filing thereof; but
in any event prior to the Effectiveness Date, and to keep such Registration
Statement continuously effective under the Securities Act until the earlier of
(A) the sale of all of the Registrable Securities included in such Registration
Statement; or (B) such time as in the opinion of counsel to the Company (in form
and substance reasonably satisfactory to the Investor) that all of the
Registrable Securities included in

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such Registration Statement are eligible for resale pursuant to Rule 144(k) of
the Securities Act (the "Effectiveness Period"); provided, however, that the
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Company shall not be deemed to have used its best efforts to keep the
Registration Statement effective during the Effectiveness Period if it
voluntarily takes any action that would result in the Investor not being able to
sell the Registrable Securities covered by such Registration Statement during
the Effectiveness Period, unless such action is required under applicable law or
the Company has filed a post-effective amendment to the Registration Statement
and the Commission has not declared it effective. If the Investor intends to
distribute the Registrable Securities covered by the Registration Statement by
means of an underwriting, the Investor shall promptly notify the Company.

     (b)  Piggy-Back Registrations.  If at any time after each Closing Date, the
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Company proposes to register (including for this purpose a registration effected
by the Company for stockholders other than the Investor) any of its stock or
other securities under the Securities Act in connection with the public offering
of such securities other than (i) a registration relating solely to the sale of
securities to current or former employees, officers, advisors, consultants or
directors of the Company or any subsidiary of the Company pursuant to a stock
purchase plan or stock option or stock awards approved by the Board of Directors
of the Company, (ii) a registration on Form S-4 or any similar successor form or
(iii) a registration on any form which does not include substantially the same
information as would be required to be included in a registration statement
covering the sale of the Registrable Securities, the Company shall at such time,
give the Investor written notice of its intention to effect such registration at
least fifteen (15) days before the anticipated filing of any such registration
statement of the Company.  Upon the written request of the Investor given within
ten (10) days after giving of such notice by the Company pursuant to the terms
of this Agreement, the Company shall use its best efforts to include in such
registration statement all or any part of the Registrable Securities the
Investor requests to be registered.  No rights to registration of Registrable
Securities under this Section shall be construed to limit any registration
otherwise required hereunder.  Notwithstanding the foregoing, if the proposed
offering under this Section 2(b) is to be effectuated through an underwritten
public offering and if the managing underwriter shall advise the Company and the
Holders of Registrable Securities in writing that, in its opinion, the inclusion
of all of the Registrable Securities could materially adversely affect the
offering, then the managing underwriter may elect to exclude all or such portion
of such Registrable Securities from such offering; provided that the managing
underwriter may only exclude any of the Registrable Securities to the same
extent on a pro rata basis, that it excludes securities of other holders.  The
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Company shall have the right to withdraw any such proposed registration
statement, or to withdraw the same after the filing, but prior to the effective
date thereof without thereby incurring any liability to the holders of
Registrable Securities.

     (c)  Resale Registration.  If at any time prior to 60 days after delivery
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of a Put Option Notice, in the good-faith reasonable judgement of the Investor,
the public resale of the Registrable Securities to be issued at the Closing
relating to such Put Option Notice by the Investor shall be restricted or
limited (as to amount or timing) by the terms and conditions of the Securities
Act and the rules and regulations promulgated thereunder (including, without
limitation, by reason of the Holder's status as an Affiliate of the Company or
the failure of the Company to effect the registration statement relating to the
registered issuance of the Securities and/or the Underlying Shares to the
Investor pursuant to Sections 7.5 and 9.5 of the Securities Purchase Agreement,
and as a consequence of such failure, the Registrable Securities to be issued at
the Closing relating to

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such Put Option Notice will not be freely tradeable by the Investor) as of such
Closing, then, upon request of the Investor, the Company shall promptly file a
registration statement on Form S-3 (the "Resale Registration Statement")
pursuant to Rule 415 of the Securities Act or any successor rule providing for
the offering of securities on a continuous basis (except if otherwise directed
by the Investor in accordance herewith or if the Company is not then eligible to
register for resale the Registrable Securities on Form S-3 pursuant to Rule 415,
then such registration shall be on any available form as determined by the
Investor) registering the resale of the Registrable Securities to be issued at
the Closing relating to such Put Option Notice by the Investor.  The Company
shall (i) not permit any securities other than the Registrable Securities to be
included in the Resale Registration Statement and (ii) use it best efforts to
cause the Resale Registration Statement to be declared effective under the
Securities Act as promptly as possible after the filing thereof, but in any
event prior to the applicable Closing Date, and to keep such Resale Registration
Statement continuously effective under the Securities Act until the earlier of
(A) the sale of all of the Registrable Securities included in such Resale
Registration Statement or (B) the expiration of the Effectiveness Period.  If
the Investor intends to distribute the Registrable Securities covered by the
Resale Registration Statement by means of an underwriting, the Investor shall
promptly notify the Company.

     (d)  Liquidated Damages.  If the Registration Statement referred to in
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Section 2(a) is not filed on or before the Filing Date or is not declared
effective on or before the Effectiveness Date, the Conversion Price of the
Convertible Notes shall be decreased as provided in Section 5.4 of the
Convertible Notes.

3.  Registration Procedures.  In connection with the Company's registration
obligations pursuant to Section 2(a) or Section 2(c) of this Agreement, the
Company shall:

     (a)  Prepare and file with the Commission on or prior to the Filing Date
(or if registration is to be made pursuant to Section 2(c) as promptly as
practicable after the Investor request for such filing), a Registration
Statement (or Resale Registration Statement, as the case may be) in accordance
with the method or methods of distribution thereof as specified by the Investor,
and cause the Registration Statement (or Resale Registration Statement, as the
case may be) to become effective as soon as possible, but in no event later than
the Effectiveness Date (or if registration is to be made pursuant to Section
2(c), the applicable Closing Date), and to remain effective as provided herein;
provided, however, that not less than seven (7) Business Days prior to the
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filing of the Registration Statement (or Resale Registration Statement, as the
case may be) or any related Prospectus or any amendment or supplement thereto
(including any document that would be incorporated or deemed to be incorporated
therein by reference), the Company shall (i) furnish to the Investor copies of
all such documents proposed to be filed, which documents (other than those
incorporated or deemed to be incorporated by reference) will be subject to the
review of the Investor and its counsel, and (ii) cause its officers and
directors, counsel and independent certified public accountants to respond to
such inquiries as shall be necessary, in the reasonable opinion of counsel to
the Investor, to conduct a reasonable investigation within the meaning of the
Securities Act.  The Company shall not file the Registration Statement (or
Resale Registration Statement, as the case may be) or any such Prospectus or any
amendments or supplements thereto to which the Investor or its counsel, shall
reasonably object in writing within five (5) Business Days of their receipt
thereof.

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     (b) (i)  Prepare and file with the Commission such amendments, including
post-effective amendments, to the Registration Statement (or Resale Registration
Statement, as the case may be) as may be necessary to keep the Registration
Statement (or Resale Registration Statement, as the case may be) continuously
effective as to the applicable Registrable Securities for the Effectiveness
Period and prepare and file with the Commission such additional registration
statements in order to register for resale under the Securities Act all of the
Registrable Securities; (ii) cause the related Prospectus to be amended or
supplemented by any required Prospectus supplement, and as so supplemented or
amended to be filed pursuant to Rule 424 (or any similar provisions then in
force) promulgated under the Securities Act; (iii) respond as promptly as
practicable to any comments received from the Commission with respect to the
Registration Statement (or Resale Registration Statement, as the case may be) or
any amendment thereto and promptly provide the Investor true and complete copies
of all correspondence from and to the Commission relating to the Registration
Statement (or Resale Registration Statement, as the case may be); and (iv)
comply with the provisions of the Securities Act and the Exchange Act with
respect to the disposition of all Registrable Securities covered by the
Registration Statement (or Resale Registration Statement, as the case may be)
during the applicable period in accordance with the intended methods of
disposition by the Investor thereof set forth in the Registration Statement (or
Resale Registration Statement, as the case may be) as so amended or in such
Prospectus as so supplemented.

     (c)  Notify the Investor and its counsel immediately (and, in the case
of(c)(i)(A) below, not less than five (5) Business Days prior to such filing)
and (if requested by the Investor) confirm such notice in writing no later than
one (1) Business Day following the day (i)(A) when a Prospectus or any
Prospectus supplement or post-effective amendment to the Registration Statement
(or Resale Registration Statement, as the case may be) is proposed to be filed;
(B) when the Commission notifies the Company whether there will be a "review" of
such Registration Statement (or Resale Registration Statement, as the case may
be) and whenever the Commission comments in writing on such Registration
Statement (or Resale Registration Statement, as the case may be) and (C) with
respect to the Registration Statement (or Resale Registration Statement, as the
case may be) or any post-effective amendment, when the same has become
effective; (ii) of any request by the Commission or any other Federal or state
governmental authority for amendments or supplements to the Registration
Statement (or Resale Registration Statement, as the case may be) or Prospectus
or for additional information; (iii) of the issuance by the Commission of any
stop order suspending the effectiveness of the Registration Statement (or Resale
Registration Statement, as the case may be) covering any or all of the
Registrable Securities or the initiation of any Proceedings for that purpose;
(iv) if at any time any of the representations and warranties of the Company
contained in any agreement contemplated hereby ceases to be true and correct in
all material respects; (v) of the receipt by the Company of any notification
with respect to the suspension of the qualification or exemption from
qualification of any of the Registrable Securities for sale in any jurisdiction,
or the initiation or threatening of any Proceeding for such purpose; and (vi) of
the occurrence of any event that makes any statement made in the Registration
Statement (or Resale Registration Statement, as the case may be) or Prospectus
or any document incorporated or deemed to be incorporated therein by reference
untrue in any material respect or that requires any revisions to the
Registration Statement (or Resale Registration Statement, as the case may be),
Prospectus or other documents so that, in the case of the Registration Statement
(or Resale Registration Statement, as the case may be) or the Prospectus, as the
case may be, it will not contain any untrue statement of a material fact

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or omit to state any material fact required to be stated therein or necessary to
make the statements therein, in light of the circumstances under which they were
made, not misleading.

     (d)  Use its best efforts to prevent the issuance of, or, if issued, obtain
the withdrawal of (i) any order suspending the effectiveness of the Registration
Statement (or Resale Registration Statement, as the case may be) or (ii) any
suspension of the qualification (or exemption from qualification) of any of the
Registrable Securities for sale in any jurisdiction, at the earliest practicable
moment.

     (e)  Furnish to each of the Investor and its counsel, without charge, at
least one conformed copy of the Registration Statement (or Resale Registration
Statement, as the case may be) and each amendment thereto, including financial
statements and schedules, all documents incorporated or deemed to be
incorporated therein by reference, and all exhibits to the extent requested by
such Person (including those previously furnished or incorporated by reference)
promptly after the filing of such documents with the Commission.

     (f)  Promptly deliver to the Investor, without charge, as many copies of
the Prospectus or Prospectuses (including each form of prospectus) and each
amendment or supplement thereto as the Investor may reasonably request; and the
Company hereby consents to the use of such Prospectus and each amendment or
supplement thereto by the Investor in connection with the offering and sale of
the Registrable Securities covered by such Prospectus and any amendment or
supplement thereto.

     (g)  Use its best efforts to register or qualify or cooperate with the
Investor and its counsel in connection with the registration or qualification
(or exemption from such registration or qualification) of such Registrable
Securities for offer and sale under the securities or Blue Sky laws of such
jurisdictions within the United States as the Investor or, in the case of an
underwritten public offering, the managing underwriter shall request in writing,
to keep each such registration or qualification (or exemption therefrom)
effective during the Effectiveness Period and to do any and all other acts or
things necessary or advisable to enable the disposition in such jurisdictions of
the Registrable Securities covered by a Registration Statement (or Resale
Registration Statement, as the case may be); provided, however, that the Company
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shall not be required to qualify generally to do business in any jurisdiction
where it is not then so qualified or to take any action that would subject it to
general service of process in any such jurisdiction where it is not then so
subject or subject the Company to any material tax in any such jurisdiction
where it is not then so subject.

     (h)  Cooperate with the Investor to facilitate the timely preparation and
delivery of certificates representing Registrable Securities to be sold pursuant
to a Registration Statement (or Resale Registration Statement, as the case may
be), which certificates shall be free of all restrictive legends (other than
legends relating to the existence of any shareholder rights or similar agreement
then in effect to which the Investor is a party and which legend appears on all
other certificates for the Company's Common Stock), and to enable such
Registrable Securities to be in such denominations and registered in such name
as the Investor may request at least two Business Days prior to any sale of
Registrable Securities.

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     (i)  Upon the occurrence of any event contemplated by Section 3(c)(vi), as
promptly as practicable, prepare a supplement or amendment, including a post-
effective amendment, to the Registration Statement (or Resale Registration
Statement, as the case may be) or a supplement to the related Prospectus or any
document incorporated or deemed to be incorporated therein by reference, and
file any other required document so that, as thereafter delivered, neither the
Registration Statement (or Resale Registration Statement, as the case may be)
nor such Prospectus will contain an untrue statement of a material fact or omit
to state a material fact required to be stated therein or necessary to make the
statements therein, in light of the circumstances under which they were made,
not misleading.

     (j)  If a requested registration pursuant to Section 2(a) or 2(c) hereof
involves an underwritten public offering, then the managing underwriter shall be
chosen by the Investor, with the approval of the Company (which approval shall
not be unreasonably withheld).  The Company shall promptly enter into an
underwriting agreement with the Investor's proposed underwriter(s) in such form
and containing such provisions as are customary in the securities business for
such an arrangement between such underwriter(s) and companies of the Company's
size and investment stature.  The Company shall require all other holders of
Registrable Securities, if any, who are entitled to participate in any such
registration to sign the underwriting agreement and the Company shall condition
such Holder's participation in such underwritten public offering on the
fulfillment of this condition.  The Company shall furnish on the date that the
Registrable Shares are delivered to the underwriters for sale pursuant to such
registration (x) an opinion of counsel covering those legal matters that are
customary for such an underwriting and (y) a letter dated as of the date thereof
from an independent public accountant covering those accounting matters that are
customary for such an underwriting.

     (k)  Use its best efforts to cause all Registrable Securities covered by
such Registration Statement (or Resale Registration Statement, as the case may
be) to be listed on the American Stock Exchange or Other Exchange pursuant to
terms of the Securities Purchase Agreement.

     (l)  Make available for inspection by the Investor, a representative of the
Investor and an attorney or accountant retained by the Investor or underwriters,
at the offices where normally kept, during reasonable business hours, all
financial and other records, pertinent corporate documents and properties of the
Company and its subsidiaries, and cause the officers, directors, agents and
employees of the Company and its subsidiaries to supply all information in each
case reasonably requested by the Investor, its attorney or accountant in
connection with the Registration Statement (or Resale Registration Statement, as
the case may be); provided, however, that any information that is determined in
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good faith by the Company in writing to be of a confidential nature at the time
of delivery of such information shall not be available to such Persons unless
and until such Persons shall have entered into a customary confidentiality
agreement with the Company with respect thereto.

     (m)  Comply with all applicable rules and regulations of the Commission and
make generally available to its security holders earning statements satisfying
the provisions of Section 11(a) of the Securities Act and Rule 158 not later
than 45 days after the end of any 12-month period (or 90 days after the end of
any 12-month period if such period is a fiscal year) commencing on the first day
of the first fiscal quarter of the Company after the effective date of the
Registration

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<PAGE>

Statement (or Resale Registration Statement, as the case may be), which
statement shall cover said 12-month period, or such shorter periods as is
consistent with the requirements of Rule 158.

     (n)  The Company may require the Investor to furnish to the Company such
information regarding the distribution of such Registrable Securities as is
required by law to be disclosed in the Registration Statement (or Resale
Registration Statement, as the case may be) and the Company may exclude from
registration the Registrable Securities should the Investor unreasonably fail to
furnish such information within a reasonable time after receiving such request.

     (o)  If the Registration Statement (or Resale Registration Statement, as
the case may be) refers to the Investor by name or otherwise as the holder of
any securities of the Company, then the Investor shall have the right to require
(if such reference to the Investor by name or otherwise is not required by the
Securities Act or any similar Federal statute then in force) the deletion of the
reference to the Investor in any amendment or supplement to the Registration
Statement (or Resale Registration Statement, as the case may be) filed or
prepared subsequent to the time that such reference ceases to be required.

     The Investor agrees by its acquisition of such Registrable Securities that,
upon receipt of a notice from the Company of the occurrence of any event of the
kind described in Section 3(c)(ii), 3(c)(iii), 3(c)(v) or 3(c)(vi), the Investor
shall forthwith discontinue disposition of such Registrable Securities until the
Investor's receipt of the copies of the supplemented Prospectus and/or amended
Registration Statement (or Resale Registration Statement, as the case may be)
contemplated by Section 3(b) and/or 3(f), or until it is advised in writing (the
"Advice") by the Company that the use of the applicable Prospectus may be
resumed, and, in either case, has received copies of any additional or
supplemental filings that are incorporated or deemed to be incorporated by
reference in such Prospectus or Registration Statement (or Resale Registration
Statement, as the case may be).

     Notwithstanding anything to the contrary in this Section 3, if, after the
Registration Statement (or Resale Registration Statement, as the case may be)
becomes effective, the Board of Directors of the Company, acting in good faith,
determines there is a reasonable likelihood that disclosure in the Prospectus,
or any other action taken in connection with such prospectus, would interfere in
any material respect with any financing (other than through the sale of
securities), acquisition, merger, consolidation, tender offer or any similar
transaction that would require disclosure pursuant to the Exchange Act, then the
Company shall have the right to defer filing for the period (the "Grace Period")
during which such disclosure would materially and adversely interfere with such
transaction; provided, that (x) the Company shall promptly notify the Investor
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in writing of the existence of material non-public information giving rise to a
Grace Period and the date on which the Grace Period will begin, and (y) notify
the Investor in writing of the date on which the Grace Period will end; and,

provided further that (A) the Company may not defer the filing for a period of
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more than 30 days, (B) the Company shall not defer its obligation in this manner
more than once in any twelve-month period, (C) the Company shall delay during
any such period the filing or effectiveness of any other registration statement
required pursuant to the registration rights of the holders of any other
securities and (D) during such period the sale of shares by officers and
directors of the Company shall be prohibited in accordance with the Company's
insider trading policy.  For purposes of determining the length of a Grace
Period above,

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the Grace Period shall begin on and include the date the Investor receives the
notice referred to in clause (x) of this paragraph and shall end on and include
the date the Investor receives the notice referred to in clause (y) of this
paragraph.

4.  Registration Expenses.  All fees and expenses incident to the performance of
or compliance with this Agreement by the Company shall be borne by the Company
and whether or not the Registration Statement (or Resale Registration Statement,
as the case may be) is filed or becomes effective and whether or not any
Registrable Securities are sold pursuant to the Registration Statement (or
Resale Registration Statement, as the case may be).  The fees and expenses
referred to in the foregoing sentence shall include, without limitation, (i) all
registration, qualification and filing fees (including, without limitation, fees
and expenses (A) with respect to filings required to be made with The American
Stock Exchange and each Other Exchange on which Registrable Securities are
required hereunder to be listed and (B) in compliance with state securities or
Blue Sky laws, (ii) printing expenses (including, without limitation, expenses
of printing certificates for Registrable Securities and of photocopying
prospectuses), (iii) messenger, telephone and delivery expenses, (iv) escrow
fees, (iv) fees and disbursements of counsel for the Company, (vi) Securities
Act liability insurance, if the Company so desires such insurance, and (vii)
fees and expenses of all other Persons retained by the Company in connection
with the consummation of the transactions contemplated by this Agreement
including the reasonable fees and expenses of one special counsel for the
Investor.  In addition, the Company shall be responsible for all of its internal
expenses incurred in connection with the consummation of the transactions
contemplated by this Agreement (including, without limitation, all salaries and
expenses of its officers and employees performing legal or accounting duties),
the expense of any annual audit, the fees and expenses incurred in connection
with the listing of the Registrable Securities on any Other Exchange as required
hereunder.  Any fees of counsel to the Investor, except those otherwise covered
by this paragraph, shall be borne by the Investor.

5.  Indemnification.

       (a)  Indemnification by the Company.  The Company shall, notwithstanding
            ------------------------------
any termination of this Agreement, indemnify and hold harmless the Investor, its
officers, directors, agents and employees, each Person who controls the Investor
(within the meaning of Section 15 of the Securities Act or Section 20 of the
Exchange Act) and the officers, directors, agents and employees of each such
controlling Person, to the fullest extent permitted by applicable law, from and
against any and all losses, claims, damages, liabilities, reasonable costs
(including, without limitation, attorneys' fees) and expenses (collectively,
"Losses"), as incurred, arising out of or relating to any untrue or alleged
untrue statement of a material fact contained in the Registration Statement (or
Resale Registration Statement, as the case may be), any Prospectus or any form
of prospectus or in any amendment or supplement thereto or in any preliminary
prospectus, or arising out of or relating to any omission or alleged omission of
a material fact required to be stated therein or necessary to make the
statements therein (in the case of any Prospectus, preliminary prospectus or
form of prospectus or supplement thereto, in light of the circumstances under
which they were made) not misleading, except to the extent, but only to the
extent, that such untrue statements or omissions are based solely upon
information regarding the Investor furnished in writing to the Company by or on
behalf of the Investor expressly for use therein.  The Company shall notify the
Investor promptly

                                       10
<PAGE>

of the institution, threat or assertion of any Proceeding of which the Company
is aware in connection with the transactions contemplated by this Agreement.

     (b)  Indemnification by the Investor.  The Investor shall indemnify and
          -------------------------------
hold harmless the Company, its officers, directors, agents and employees, each
Person who controls the Company (within the meaning of Section 15 of the
Securities Act and Section 20 of the Exchange Act), and the directors, officers,
agents or employees of such controlling Persons, to the fullest extent permitted
by applicable law, from and against all Losses arising solely out of or based
solely upon any untrue statement of a material fact contained in the
Registration Statement (or Resale Registration Statement, as the case may be),
any Prospectus, or any form of prospectus, or arising solely out of or based
solely upon any omission of a material fact required to be stated therein or
necessary to make the statements therein not misleading to the extent, but only
to the extent, that such untrue statement or omission is contained in any
information so furnished in writing by the Investor to the Company specifically
for inclusion in the Registration Statement (or Resale Registration Statement,
as the case may be) or such Prospectus.  In no event shall the liability of the
Investor hereunder be greater in amount than the dollar amount of the gross
proceeds received by the Investor upon the sale of the Registrable Securities
giving rise to such indemnification obligation.

     (c)  Conduct of Indemnification Proceedings.  If any Proceeding shall be
          --------------------------------------
brought or asserted against any Person entitled to indemnity hereunder (an
"Indemnified Party"), such Indemnified Party promptly shall notify the Person
from whom indemnity is sought (the "Indemnifying Party") in writing, and the
Indemnifying Party shall have the right to participate in, and to the extent the
Indemnifying Party so desires, to assume the defense thereof; including the
employment of counsel reasonably satisfactory to the Indemnified Party and the
payment of all fees and expenses incurred in connection with defense thereof;
provided, that the failure of any Indemnified Party to give such notice shall
not relieve the Indemnifying Party of its obligations or liabilities pursuant to
this Agreement, except (and only) to the extent that it shall be finally
determined by a court of competent jurisdiction (which determination is not
subject to appeal or further review) that such failure shall have proximately
and materially adversely prejudiced the Indemnifying Party.

     An Indemnified Party shall have the right to employ separate counsel in any
such Proceeding and to participate in the defense thereof, but the fees and
expenses of such counsel shall be at the expense of such Indemnified Party or
Parties unless: (1) the Indemnifying Party has agreed in writing to pay such
fees and expenses; or (2) the Indemnifying Party shall have failed promptly to
assume the defense of such Proceeding and to employ counsel reasonably
satisfactory to such Indemnified Party in any such Proceeding; or (3) such
Indemnified Party shall have been advised by counsel that a conflict of interest
is likely to exist if the same counsel were to represent such Indemnified Party
and the Indemnifying Party (in which case, if such Indemnified Party notifies
the Indemnifying Party in writing that it elects to employ separate counsel at
the expense of the Indemnifying Party, the Indemnifying Party shall not have the
right to assume the defense thereof and such counsel shall be at the expense of
the Indemnifying Party).  The Indemnifying Party shall not be liable for any
settlement of any such Proceeding effected without its written consent, which
consent shall not be unreasonably withheld.  No Indemnifying Party shall,
without the prior written consent of the Indemnified Party, effect any
settlement of any pending Proceeding in respect of which any Indemnified Party
is a party, unless such settlement includes an

                                       11
<PAGE>

unconditional release of such Indemnified Party from all liability on claims
that are the subject matter of such Proceeding.

     All fees and expenses of the Indemnified Party (including reasonable fees
and expenses to the extent incurred in connection with investigating or
preparing to defend such Proceeding in a manner not inconsistent with this
Section) shall be paid to the Indemnified Party, as incurred, within 30 days of
written notice thereof to the Indemnifying Party (regardless of whether it is
ultimately determined that an Indemnified Party is not entitled to
indemnification hereunder; provided, that the Indemnifying Party may require
such Indemnified Party to undertake to reimburse all such fees and expenses to
the extent it is finally determined that such Indemnified Party is not entitled
to indemnification hereunder).

     (d)  Contribution.  If a claim for indemnification under Section 5(a) or
          ------------
5(b) is unavailable to an Indemnified Party because of a failure or refusal of a
governmental authority to enforce such indemnification in accordance with its
terms (by reason of public policy or otherwise), then each Indemnifying Party,
in lieu of indemnifying such Indemnified Party, shall contribute to the amount
paid or payable by such Indemnified Party as a result of such Losses, in such
proportion as is appropriate to reflect the relative limit of the Indemnifying
Party and Indemnified Party in connection with the actions, statements or
omissions that resulted in such Losses as well as any other relevant equitable
considerations.  The relative fault of such Indemnifying Party and Indemnified
Party shall be determined by reference to, among other things, whether any
action in question, including any untrue or alleged untrue statement of a
material fact or omission or alleged omission of a material fact, has been taken
or made by, or relates to information supplied by, such Indemnifying Party or
Indemnified Party, and the parties' relative intent, knowledge, access to
information and opportunity to correct or prevent such action, statement or
omission.  The amount paid or payable by a party as a result of any Losses shall
be deemed to include, subject to the limitations set forth in Section 5(c), any
reasonable attorneys' or other reasonable fees or expenses incurred by such
party in connection with any Proceeding to the extent such party would have been
indemnified for such fees or expenses if the indemnification provided for in
this Section was available to such party in accordance with its terms.

     The parties hereto agree that it would not be just and equitable if
contribution pursuant to this Section 5(d) were determined by pro rata
allocation or by any other method of allocation that does not take into account
the equitable considerations referred to in the immediately preceding paragraph.
Notwithstanding the provisions of this Section 5(d), each Investor shall not be
required to contribute, in the aggregate, any amount in excess of the amount by
which the proceeds actually received by such Investor from the sale of the
Registrable Securities subject to the Proceeding exceeds the amount of any
damages that the Investor has otherwise been required to pay by reason of such
untrue or alleged untrue statement or omission or alleged omission.  No Person
guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of
the Securities Act) shall be entitled to contribution from any Person who was
not guilty of such fraudulent misrepresentation.

     The indemnity and contribution agreements contained in this Section 5 are
in addition to any liability that the Indemnifying Parties may have to the
Indemnified Parties.

                                       12
<PAGE>

6.  Rule 144.  The Company covenants that it shall file the reports required to
be filed by it under the Securities Act and the Exchange Act and the rules and
regulations adopted by the Commission thereunder in a timely manner.  The
Company further covenants that it will take such further action and provide any
information as the Investor may reasonably request, all to the extent required
from time to time to enable the Investor to sell Registrable Securities without
registration under the Securities Act within the limitation of the exemptions
provided by (i) Rule 144 of the Securities Act or any similar rule or regulation
hereafter adopted by the Commission and (ii) Rule 144A of the Securities Act or
any similar rule or regulation hereafter adopted by the Commission.  Upon the
request of the investor, the Company shall deliver to the Investor a written
certification of a duly authorized officer as to whether it has complied with
such requirements.

7.  Miscellaneous.

     (a)  Remedies.  In the event of a breach by the Company or by the Investor,
          --------
of any of their obligations under this Agreement, the Investor or the Company,
as the case may be, in addition to being entitled to exercise all rights granted
by law and under this Agreement, including recovery of damages, will be entitled
to specific performance of its rights under this Agreement.  The Company and the
Investor agree that monetary damages would not provide adequate compensation for
any losses incurred by reason of a breach by it of any of the provisions of this
Agreement and hereby further agrees that, in the event of any action for
specific performance in respect of such breach, it shall waive the defense that
a remedy at law would be adequate.

     (b)  No Inconsistent Agreements.  Neither the Company nor any of its
          --------------------------
subsidiaries has, as of the date hereof; nor shall the Company or any of its
subsidiaries, on or after the date of this Agreement, enter into any agreement
with respect to its securities that is inconsistent with the rights granted to
the Investor in this Agreement or otherwise conflicts with the provisions
hereof.  Except as described herein, neither the Company nor any of its
subsidiaries has previously entered into any agreement granting any registration
rights with respect to any of its securities to any Person.

     (c)  No Piggyback on Registrations.  Except as set forth herein, neither
          -----------------------------
the Company nor any of its security holders (other than the Investor hereto) may
include securities of the Company in the Registration Statement (or Resale
Registration Statement, as the case may be) other than the Registrable
Securities, and the Company shall not enter into any agreement providing any
such right to any of its securityholders.

     (d)  Amendments and Waivers.  The provisions of this Agreement may not be
          ----------------------
amended or waived without the express written consent of the Investor.

     (e)  Notices.  Unless otherwise provided, all notices, requests, consents
          -------
and other communications hereunder to any party shall be given in writing and
shall be deemed effectively given upon personal delivery to the party to be
notified or duly sent by first class registered or certified mail, or other
courier service, postage prepaid, or telecopied with a confirmation copy by
regular mail, and addressed or telecopied to the party to be notified at the
address or telecopier number indicated for such party at the address or
telecopier number, as the case may be, set forth below or such other address or
telecopier number, as the case may be, as may hereafter be designated in writing
by the addressees to the addressor listing all parties:

                                       13
<PAGE>

To the Company:                    Organogenesis, Inc.
                                   150 Dan Road
                                   Canton, Massachusetts  02021
                                   Attention:  Chief Financial Officer
                                   Fax:  (781) 575-6570

With a copy (which shall           Kramer Levin Naftalis & Frankel LLP
not constitute notice) to:         919 Third Avenue
                                   New York, New York  10022
                                   Attention:  Ezra G. Levin, Esq.
                                   Fax:  (212) 715-8227

To the Investor:                   Novartis Pharma AG
                                   Lichtstrasse 35
                                   CH-4002 Basel
                                   Switzerland
                                   Attention:  Joseph E. Mamie
                                   Fax:  41 61 324 81 11

With a copy to:                    Jeff Benjamin, Esq.
                                   Vice President and Associate General Counsel
                                   Novartis Corporation
                                   608 Fifth Avenue
                                   New York, New York  10020
                                   Fax:  (212) 830-2495

and                                Morton A. Pierce, Esq.
                                   Dewey Ballantine LLP
                                   1301 Avenue of the Americas
                                   New York, New York  10019
                                   Fax:  (212) 259-6333

     All such notices, requests, consents and other communications shall be
deemed to have been received: (a) in the case of personal delivery, on the date
of such delivery; (b) in the case of mailing, on the seventh Business Day
following the date of such mailing; and (c) in the case of facsimile
transmission, when confirmed by facsimile machine report.

     (f)  Successors and Assigns.  This Agreement shall inure to the benefit of
          ----------------------
and be binding upon the successors and permitted assigns of each of the parties
and shall inure to the benefit of the Investor.  The Company may not assign its
rights or obligations hereunder without the prior written consent of the
Investor.

                                       14
<PAGE>

     (g)  Assignment of Registration Rights.  The rights of the Investor
          ---------------------------------
hereunder, including the right to have the Company register for resale
Registrable Securities in accordance with the terms of this Agreement, shall be
automatically assignable by the Investor to any assignee or transferee of all or
a portion of the Convertible Notes, the Preferred Stock or the Registrable
Securities if: (i) the Investor agrees in writing with the transferee or
assignee to assign such rights, and a copy of such agreement is furnished to the
Company within a reasonable time after such assignment, (ii) the Company is,
within a reasonable time after such proposed transfer or assignment, furnished
with written notice of (a) the name and address of such transferee or assignee,
and (b) the securities with respect to which such registration rights are being
transferred or assigned and (iii) at or before the time the Company receives the
written notice contemplated by clause (ii) of this Section, the transferee or
assignee agrees in writing to be bound by all of the provisions of this
Agreement.  The rights to assignment shall apply to the Investor (and to
subsequent) successors and assigns.

     (h)  Counterparts.  This Agreement may be executed in any number of
          ------------
counterparts, each of which when so executed shall be deemed to be an original
and, all of which taken together shall constitute one and the same Agreement.
In the event that any signature is delivered by facsimile transmission, such
signature shall create a valid binding obligation of the party executing (or on
whose behalf such signature is executed) the same with the same force and effect
as if such facsimile signature were the original thereof.

     (i)  Governing Law.  This Agreement shall be governed by and construed
          -------------
under the laws of the State of New York (without regard to the conflict of law
principles thereof).  Each of the parties irrevocably submits to the exclusive
jurisdiction of (a) the Supreme Court of the State of New York, and (b) the
United States District Court for the Southern District of New York, for the
purposes of any suit, action or other proceeding arising out of this Agreement
or any transaction contemplated hereby.  Each of the parties agrees to commence
any action, suit or proceeding relating hereto in the United States District
Court for the Southern District of New York or if such suit, action or other
proceeding may not be brought in such court for jurisdictional purposes, in the
Supreme Court of the State of New York.

     (j)  Cumulative Remedies.  The remedies provided herein are cumulative and
          -------------------
not exclusive of any remedies provided by law.

     (k)  Severability.  If any term, provision, covenant or restriction of this
          ------------
Agreement is held by a court of competent jurisdiction to be invalid, illegal,
void or unenforceable, the remainder of the terms, provisions, covenants and
restrictions set forth herein shall remain in full force and effect and shall in
no way be affected, impaired or invalidated, and the parties hereto shall use
their reasonable efforts to find and employ an alternative means to achieve the
same or substantially the same result as that contemplated by such term,
provision, covenant or restriction.  It is hereby stipulated and declared to be
the intention of the parties that they would have executed the remaining terms,
provisions, covenants and restrictions without including any of such that may be
hereafter declared invalid, illegal, void or unenforceable.

     (l) Headings.  The headings in this Agreement are for convenience of
         --------
reference only and shall not limit or otherwise affect the meaning hereof.

                                       15
<PAGE>

IN WITNESS WHEREOF, the parties have executed this REGISTRATION RIGHTS AGREEMENT
as of the date first written above.

                              ORGANOGENESIS, INC.

                              By:    /s/ Michael L. Sabolinski, M.D.
                                     -------------------------------------------
                              Name:  Michael L. Sabolinski, M.D.
                                     -------------------------------------------
                              Title: President & CEO
                                     -------------------------------------------

                              NOVARTIS PHARMA AG

                              Date:  3 October 2001
                              By:    /s/ Anthony Rosenberg
                                     -------------------------------------------
                              Name:  Anthony Rosenberg
                                     -------------------------------------------
                              Title: Head Business Unit Transplantation
                                     -------------------------------------------

                              NOVARTIS PHARMA AG

                              Date:  3 October 2001
                              By:    /s/ Kimberly Urdahl
                                     -------------------------------------------
                              Name:  Kimberly Urdahl
                                     -------------------------------------------
                              Title: Senior Legal Counsel
                                     -------------------------------------------

                                       16<PAGE>

                                                                    EXHIBIT 10.3

THIS WARRANT AND THE SHARES OF COMMON STOCK ISSUABLE UPON THE EXERCISE HEREOF
HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE
"SECURITIES ACT"), ANY APPLICABLE STATE SECURITIES LAWS OR ANY OTHER SECURITIES
LAWS AND, ACCORDINGLY, MAY NOT BE SOLD OR OFFERED FOR SALE UNLESS: (1) EITHER
(A) A REGISTRATION STATEMENT WITH RESPECT THERETO SHALL BE EFFECTIVE UNDER THE
SECURITIES ACT, OR (B) THE COMPANY SHALL HAVE RECEIVED AN OPINION OF COUNSEL TO
THE HOLDER SATISFACTORY TO THE COMPANY THAT AN EXEMPTION FROM REGISTRATION UNDER
THE SECURITIES ACT IS AVAILABLE, AND (2) THERE SHALL HAVE BEEN COMPLIANCE WITH
ALL APPLICABLE STATE SECURITIES OR BLUE SKY LAWS.

                              ORGANOGENESIS INC.

                         COMMON STOCK PURCHASE WARRANT
                         -----------------------------

                                                             For the purchase of
                                                         shares of Common Stock,
                                                        par value $.01 per share

Warrant No. 2001-____                                Dated as of August 28, 2001

     Organogenesis Inc., a corporation organized and existing under the laws of
the State of Delaware (the "Company"), hereby certifies that, for value
                            -------
received, ______________________ or its registered assigns (the "Holder"), is
                                                                 ------
entitled, subject to the terms set forth below, to purchase from the Company up
to a total of ________ shares of Common Stock, $.01 par value (the "Common
                                                                    ------
Stock"), of the Company (each such share, a "Warrant Share" and all such shares,
-----                                        -------------
the "Warrant Shares") at an exercise price equal to $8.55 per share (as adjusted
     --------------
from time to time as provided in Section 8 hereof, the "Exercise Price"), at any
                                                        --------------
time and from time to time from and after the date of this Common Stock Purchase
Warrant (this "Warrant")  through and including August 27, 2004 or earlier as
               -------
provided herein (the "Expiration Date"), and subject to the following terms and
                      ---------------
conditions:

     1.   Registration of Warrant.  The Company shall register this Warrant,
          -----------------------
upon records to be maintained by the Company for that purpose (the "Warrant
                                                                    -------
Register"), in the name of the record Holder hereof from time to time.  The
--------
Company may deem and treat the registered Holder of this Warrant as the absolute
owner hereof for the purpose of any exercise hereof or any distribution to the
Holder, and for all other purposes, and the Company shall not be affected by
notice to the contrary.
<PAGE>

     2.   Registration of Transfers and Exchanges.
          ---------------------------------------

          (a)  The Company shall register the transfer of any portion of this
Warrant in the Warrant Register, upon surrender of this Warrant, with the Form
of Election to Transfer attached hereto as Exhibit A duly completed and signed,
                                           ---------
to the Company at the office specified in or pursuant to Section 3(b) hereof.
Upon any such registration or transfer, a new warrant to purchase Common Stock,
in substantially the form of this Warrant (any such new warrant, a "New
                                                                    ---
Warrant"), evidencing the portion of this Warrant so transferred shall be issued
-------
to the transferee (a "Transferee") and a New Warrant evidencing the remaining
                      ----------
portion of this Warrant not so transferred, if any, shall be issued to the
transferring Holder.  The acceptance of the New Warrant by the Transferee
thereof shall be deemed the acceptance by such Transferee of all of the rights
and obligations of a holder of this Warrant.

          (b)  This Warrant is exchangeable, upon the surrender hereof by the
Holder to the office of the Company specified in or pursuant to Section 3(b)
hereof for one or more New Warrants, evidencing in the aggregate the right to
purchase the number of Warrant Shares which may then be purchased hereunder.
Any such New Warrant will be dated the date of such exchange.

     3.   Duration, Exercise of Warrants and Redemption.
          ---------------------------------------------

          (a)  This Warrant shall be exercisable upon thirty (30) days' prior
written notice by the registered Holder on any business day before 5:30 P.M.,
Eastern Standard time, at any time and from time to time on or after August 28,
2001 to and including the Expiration Date.  At 5:30 P.M., Eastern Standard time
on the Expiration Date, the portion of this Warrant not exercised prior thereto
shall be and become void and of no value.  At the Company's option, the Company,
in its sole discretion as to any Holder or Holders, may waive the thirty (30)
day prior written notice requirement.

          (b)  Subject to Sections 2(b), 6 and 10 hereof, upon surrender of this
Warrant, with the Form of Election to Purchase attached hereto as Exhibit B duly
                                                                  ---------
completed and signed, to the Company at its office at 150 Dan Road, Canton,
Massachusetts  02021, Attention: Chief Financial Officer, or at such other
address as the Company may specify in writing to the then registered Holder, and
upon payment of the Exercise Price multiplied by the number of Warrant Shares
that the Holder intends to purchase hereunder, in lawful money of the United
States of America, by certified or official bank check or checks or wire
transfer, all as specified by the Holder in the Form of Election to Purchase
attached hereto as Exhibit B, the Company shall promptly (but in no event
                   ---------
earlier than thirty (30) business days after the Date of Exercise (as defined
herein), unless waived by the Company as described above in Section 3(a)), issue
or cause to be issued and cause to be delivered to or upon the written order of
the Holder and in such name or names as the Holder may designate, a certificate
for the Warrant Shares issuable upon such exercise, free of restrictive legends
other than as required by Section 11 hereof and any legends placed on all shares
of Common Stock of the Company relating to the then current agreement between
the Company and its transfer agent relating to the issuance of "rights" to all
holders of shares of the Company's Common Stock.  Any person so designated by
the Holder to

                                       2
<PAGE>

receive Warrant Shares shall be deemed to have become holder of
record of such Warrant Shares as of the Date of Exercise of this Warrant.

          A "Date of Exercise" means the date on which the Company shall have
             ----------------
received (i) this Warrant (or any New Warrant, as applicable), with the Form of
Election to Purchase attached hereto as Exhibit B (or attached to such New
                                        ---------
Warrant) appropriately completed and duly signed, and (ii) payment of the
Exercise Price for the number of Warrant Shares so indicated by the Holder
hereof to be purchased.

          (c)  This Warrant shall be exercisable, either in its entirety or,
from time to time, for a portion of the number of Warrant Shares. If less than
all of the Warrant Shares which may be purchased under this Warrant are
exercised at any time, the Company shall issue or cause to be issued, at its
expense, a New Warrant evidencing the right to purchase the remaining number of
Warrant Shares for which no exercise has been evidenced by this Warrant.

          (d)  Notwithstanding anything in this Section 3 to the contrary, in
the event of the occurrence of any of the following: (i) any Person is or
becomes the "beneficial owner" as defined in Rules 13d-3 and 13d-5 under the
Securities Exchange Act of 1934, as amended (the "Exchange Act"), directly or
indirectly, of more than thirty-five percent (35%) of the Common Stock, (ii) a
tender or exchange offer made to the stockholders of the Company, or (iii) the
Company enters into an agreement for the consolidation of the Company with, or
merger of the Company with or into, another corporation, or the sale, lease or
conveyance to another corporation of the property and assets of any nature of
the Company as an entirety or substantially as an entirety, the Holder shall be
entitled to exercise this Warrant in whole or in part and purchase shares of
Common Stock of the Company immediately upon prior written notice to the
Company. The Holder shall effect such exercise by surrendering this Warrant (or
such portions thereof) to be exercised together with the Form of Election to
Purchase attached hereto as Exhibit B, which shall specify the number of shares
                            ---------
of Common Stock of the Company to be purchased and the Date of Exercise (which
shall be no less than five (5) days from the date of such notice).

     4.   Registration Rights.  This Warrant and the Warrant Shares are subject
          -------------------
to the rights and benefits of that certain Registration Rights Agreement, dated
as of August 28, 2001, by and among the Company and the Purchasers (as defined
in such Registration Rights Agreement).

     5.   Payment of Taxes.  The Company will pay all documentary stamp taxes
          ----------------
attributable to the issuance of Warrant Shares upon the exercise of this
Warrant; provided, however, that the Company shall not be required to pay any
tax which may be payable in respect of any transfer involved in the registration
of this Warrant or any certificates for Warrant Shares issuable upon the
exercise of this Warrant in a name other than that of the Holder, and the
Company shall not be required to issue or cause to be issued or deliver or cause
to be delivered the certificates for Warrant Shares unless or until the person
or persons requesting the issuance thereof shall have paid to the Company the
amount of such tax or shall have established to the satisfaction of the Company
that such tax has been paid. The Holder shall be responsible for all

                                       3
<PAGE>

other tax liability that may arise as a result of holding or transferring this
Warrant or receiving Warrant Shares upon exercise hereof.

     6.   Replacement of Warrant.  If this Warrant is mutilated, lost, stolen or
          ----------------------
destroyed, the Company may, in its discretion, issue or cause to be issued in
exchange and substitution for and upon cancellation hereof, or in lieu of and
substitution for this Warrant, a New Warrant, but only upon receipt of evidence
reasonably satisfactory to the Company of such loss, theft or destruction and
indemnity, if reasonably satisfactory to it.  Applicants for a New Warrant under
such circumstances shall also comply with such other reasonable regulations and
procedures and pay such other reasonable charges as the Company may prescribe.

     7.   Reservation of Warrant Shares.  The Company covenants that it will at
          -----------------------------
all times reserve and keep available out of its authorized and unissued shares
of Common Stock, solely for the purpose of enabling it to issue Warrant Shares
upon exercise of this Warrant as herein provided, the number of Warrant Shares
which are then issuable and deliverable upon the exercise of this entire
Warrant, free from preemptive rights or any other actual contingent purchase
rights of persons other than the Holders (taking into account the adjustments
and restrictions set forth in Section 8 hereof).  The Company covenants that all
Warrant Shares that shall be so issuable and deliverable shall, upon issuance
and the payment of the applicable Exercise Price in accordance with the terms
hereof, be duly and validly authorized, issued and fully paid and nonassessable.
The Company shall use its best efforts to provide for and maintain the listing
of the Common Stock of the Company, including the Warrant Shares, upon the
American Stock Exchange (or any other securities exchange or automated quotation
system which is the principal exchange or system on which the Common Stock is
then traded or listed).

     8.   Certain Adjustments.  The Exercise Price and number of Warrant Shares
          -------------------
issuable upon exercise of this Warrant are subject to adjustment from time to
time as set forth in this Section 8.  Upon each such adjustment of the Exercise
Price pursuant to this Section 8, the Holder shall thereafter prior to the
Expiration Date be entitled to purchase, at the Exercise Price resulting from
such adjustment, the number of Warrant Shares obtained by multiplying the
Exercise Price in effect immediately prior to such adjustment by the number of
Warrant Shares issuable upon exercise of this Warrant immediately prior to such
adjustment and dividing the product thereof by the Exercise Price resulting from
such adjustment.

          (a)  If the Company, at any time while this Warrant is outstanding,
(i) shall pay a stock dividend or otherwise make a distribution or distributions
on shares of its Common Stock (as defined below), (ii) subdivide outstanding
shares of Common Stock into a larger number of shares, or (iii) combine
outstanding shares of Common Stock into a smaller number of shares, the Exercise
Price shall be multiplied by a fraction of which the numerator shall be the
number of shares of Common Stock (excluding treasury shares, if any) outstanding
before such event and of which the denominator shall be the number of shares of
Common Stock (excluding treasury shares, if any) outstanding after such event.
Any adjustment made pursuant to this Section 8 shall become effective
immediately after the record date for the determination of stockholders entitled
to receive such dividend or distribution and shall become effective immediately
after the

                                       4
<PAGE>

effective date in the case of a subdivision or combination, and shall apply to
successive subdivisions and combinations.

          (b) In case of any reclassification or change of the shares of Common
Stock of the Company issuable upon exercise of this Warrant (other than a change
in par value, or as a result of a subdivision or combination covered by Section
8(a) above, but including any change in the shares of Common Stock of the
Company into one or more classes or series of shares), or in case of any
consolidation or merger of another corporation into the Company in which the
Company is the continuing corporation and in which there is a reclassification
or change (including a change to the right to receive shares of stock (other
than Common Stock), other securities, property or cash) of the shares of Common
Stock of the Company (other than a change in par value, or as a result of a
subdivision or combination covered by Section 8(a) above, but including any
change in the shares into one or more classes or series of shares), then the
Holder shall have the right thereafter to exercise this Warrant only into the
shares of stock and other securities of the Company and property receivable or
deemed to be held by holders of shares of Common Stock of the Company following
such reclassification, change, consolidation, or merger, and the Holder shall
thereafter upon exercise of this Warrant be entitled to receive such amount of
securities or property attributable to the number of Warrant Shares such Holder
would have been entitled to receive had such Holder exercised this Warrant
immediately prior to such action.  The terms of any such reclassification or
other action shall include such terms so as to continue to give to the Holder
the right to receive the securities or property set forth in this Section 8(b)
upon any exercise following any such reclassification or other action.

          (c) In case of any consolidation of the Company with, or merger of the
Company with or into, another corporation (other than a merger or consolidation
in which the Company is the surviving or continuing corporation), or in case of
any sale, lease or conveyance to another corporation of the property and assets
of any nature of the Company as an entirety or substantially as an entirety,
such successor, leasing or purchasing corporation, as the case may be, shall (i)
execute and deliver to the Holder an agreement providing that the Holder shall
have the right thereafter to receive upon exercise of this Warrant solely the
kind and amount of shares of stock and other securities, property, cash or any
combination thereof receivable upon such consolidation, merger, sale, lease or
conveyance by a holder of the number of shares of Common Stock of the Company
for which this Warrant might have been exercised immediately prior to such
consolidation, merger, sale, lease or conveyance, and (ii) make effective
provision in its certificate of incorporation or otherwise, if necessary, to
effect such agreement. Such agreement shall provide for adjustments which shall
be as nearly equivalent as practicable to the adjustments in this Section 8.

          (d) If the Company, at any time while this Warrant is outstanding,
shall distribute to all holders of shares of Common Stock of the Company (and
not to holders of this Warrant) evidences of its indebtedness or assets or
rights or warrants to subscribe for or purchase any security (excluding those
referred to in Sections 8(a), (b) and (e) hereof), then in each such case the
Exercise Price shall be determined by multiplying the Exercise Price in effect
immediately prior to the record date fixed for determination of stockholders
entitled to receive such distribution by a fraction of which the denominator
shall be the Exercise Price determined

                                       5
<PAGE>

as of the record date mentioned above, and of which the numerator shall be such
Exercise Price on such record date less the then fair market value at such
record date of the portion of such assets or evidence of indebtedness so
distributed applicable to one outstanding share of Common Stock of the Company
as determined by a nationally recognized or major regional investment banking
firm or firm of independent certified public accountants of recognized standing
(which may be the firm that regularly examines the financial statements of the
Company) (an "Appraiser") mutually selected in good faith by the holders of a
              ---------
majority in interest of the Warrants then outstanding and the Company. Any
determination made by the Appraiser shall be final and binding upon the Company
and the Holder.

          (e)  If, at any time while this Warrant is outstanding, the Company
shall issue or cause to be issued rights or warrants to acquire or otherwise
sell or distribute shares of Common Stock of the Company to all holders of
shares of its Common Stock for a consideration per share less than the Exercise
Price then in effect, then, promptly upon such issue or sale, the Exercise Price
shall be reduced to the price (calculated to the nearest cent) determined by
dividing (i) an amount equal to the sum of (A) the number of shares of Common
Stock of the Company outstanding immediately prior to such issue or sale
multiplied by the Exercise Price, and (B) the consideration, if any, received or
receivable by the Company upon such issue or sale by (ii) the total number of
shares of Common Stock of the Company outstanding immediately after such issue
or sale.

          (f)  For the purposes of this Section 8, the following clauses shall
also be applicable:

               (i)  Record Date.  In case the Company shall take a record of the
                    -----------
holders of its Common Stock for the purpose of entitling them (A) to receive a
dividend or other distribution payable in shares of Common Stock of the Company
or in securities convertible or exchangeable into shares of Common Stock of the
Company, or (B) to subscribe for or purchase shares of Common Stock of the
Company or securities convertible or exchangeable into shares of its Common
Stock, then such record date shall be deemed to be the date of the issue or sale
of the shares of Common Stock of the Company deemed to have been issued or sold
upon the declaration of such dividend or the making of such other distribution
or the date of the granting of such right of subscription or purchase, as the
case may be.

               (ii) Treasury Shares.  The number of shares of Common Stock of
                    ---------------
the Company outstanding at any given time shall not include shares owned or held
by or for the account of the Company, and the disposition of any such shares
shall be considered an issue or sale of Common Stock.

          (g)  All calculations under this Section 8 shall be made to the
nearest cent or the nearest 1/100th of a share, as the case may be.

                                       6
<PAGE>

          (h)  If:

                    (i)    the Company shall declare a dividend (or any other
                           distribution) on its Common Stock; or

                    (ii)   the Company shall declare a special non-recurring
                           cash dividend on its Common Stock; or

                    (iii)  the Company shall authorize the granting to all
                           holders of shares of Common Stock of the Company
                           rights or warrants to subscribe for or purchase any
                           shares of capital stock of any class or of any
                           rights; or

                    (iv)   the approval of any stockholders of the Company shall
                           be required in connection with any reclassification
                           or change of the shares of Common Stock of the
                           Company issuable upon exercise of this Warrant (other
                           than a change in par value, or as a result of a
                           subdivision or combination, but including any change
                           in the shares into one or more classes or series of
                           shares), or any consolidation or merger of another
                           corporation with the Company; or

                    (v)    the Company shall authorize the voluntary
                           dissolution, liquidation or winding up of the affairs
                           of the Company,

then the Company shall cause to be mailed to each Holder at their last addresses
as they shall appear upon the Warrant Register, at least thirty (30) calendar
days prior to the applicable record or effective date hereinafter specified, a
notice stating (x) the date on which a record is to be taken for the purpose of
such dividend, distribution, redemption, rights or warrants, or if a record is
not to be taken, the date as of which the holders of record of shares of Common
Stock of the Company to be entitled to such dividend, distributions, redemption,
rights or warrants are to be determined or (y) the date on which such
reclassification, consolidation, merger, sale, transfer or share exchange is
expected to become effective or close, and the date as of which it is expected
that holders of record of shares of Common Stock of the Company shall be
entitled to exchange their shares of Common Stock for securities, cash or other
property deliverable upon such reclassification, consolidation, merger, sale,
transfer, share exchange, dissolution, liquidation or winding up; provided,
                                                                  --------
however, that the failure to mail such notice or any defect therein or in the
-------
mailing thereof shall not affect the validity of the corporate action required
to be specified in such notice.

     9.   Fractional Shares.  The Company shall not be required to issue or
          -----------------
cause to be issued fractional Warrant Shares on the exercise of this Warrant.
The number of full Warrant Shares which shall be issuable upon the exercise of
this Warrant shall be computed on the basis of the aggregate number of Warrant
Shares purchasable on exercise of this Warrant so presented.  If any fraction of
a Warrant Share would, except for the provisions of this Section 9, be issuable

                                       7
<PAGE>

on the exercise of this Warrant, the Company shall, at its option, (i) pay an
amount in cash equal to the Exercise Price multiplied by such fraction or (ii)
round the number of Warrant Shares issuable up to the next whole number.

     10.  Investment Representations.  The Holder represents to the Company that
          --------------------------
this Warrant is being acquired for the Holder's own account and for the purpose
of investment and not with a view to, or for sale in connection with, the
distribution thereof, nor with any present intention of distributing or selling
this Warrant or the Warrant Shares.  The Holder acknowledges that it has been
afforded the opportunity to meet with the management of the Company and to ask
questions of, and receive answers from, such management and the Company's
counsel about the business and affairs of the Company and concerning the terms
and conditions of the offering of this Warrant, and to obtain any additional
information, to the extent that the Company possessed such information or could
acquire it without unreasonable effort or expense, necessary to verify the
accuracy of the information otherwise obtained by or furnished to the Holder.
The Holder has received all information which the Holder considered necessary to
form a decision concerning the purchase of this Warrant, and no valid request to
the Company by the Holder hereof for information of any kind about the Company
has been refused or denied by the Company or remains unfulfilled as of the date
hereof.  The Holder asserts that it may be considered to be a sophisticated
investor, has such knowledge and experience in financial business matters that
it is capable of evaluating the merits and risk of the investment in this
Warrant and the Warrant Shares, and is able to bear the economic risk of the
investment. The Holder represents and warrants that it is an accredited
investor, as that term is defined in Regulation D under the Securities Act.

     11.  Legend.  Any certificate evidencing the Warrant Shares will bear a
          ------
legend indicating that such Warrant Shares (i) have not been registered under
the Securities Act, any applicable state securities laws or any other securities
laws and, accordingly, may not be sold or offered for sale unless: (1) either
(A) a registration statement with respect thereto shall be effective under the
Securities Act, or (B) the Company shall have received an opinion of counsel to
the Holder satisfactory to the Company that an exemption from registration under
the Securities Act is available, and (2) there shall have been compliance with
all applicable state securities or blue sky laws.

     12.  Notices.  Any and all notices or other communications or deliveries
          -------
hereunder shall be in writing and shall be deemed given and effective on the
earliest of (i) the date of transmission, if such notice or communication is
delivered via facsimile at the facsimile telephone number specified in this
Section 12 prior to 4:30 p.m. (Eastern Standard Time) on a business day, (ii)
the business day after the date of transmission, if such notice or communication
is delivered via facsimile at the facsimile telephone number specified in this
Section 12 later than 4:30 p.m. (Eastern Standard Time) on any date and earlier
than 11:59 p.m. (Eastern Standard Time) on such date, (iii) the business day
following the date of mailing, if sent by a nationally recognized overnight
courier service, or (iv) upon actual receipt by the party to whom such notice is
required to be given.  The addresses for such communications shall be:  (1) if
to the Company, to Organogenesis Inc., 150 Dan Road, Canton, Massachusetts
02021, Attention: Chief Financial Officer (or to facsimile no. (781) 575-1570)
with a copy to Mintz, Levin, Cohn, Ferris, Glovsky

                                       8
<PAGE>

& Popeo, P.C., One Financial Center, Boston, MA 02111, Attention: Neil H.
Aronson, Esquire and David M. Shamberger, Esq. (or facsimile no. (617) 542-2241)
or (ii) if to the Holder, to the Holder at the address or facsimile number
appearing on the Warrant Register or such other address or facsimile number as
the Holder may provide to the Company in accordance with this Section 12.

     13.  Warrant Agent.
          -------------

          (a) The Company shall serve as warrant agent under this Warrant.  Upon
thirty (30) days' notice to the Holder, the Company may appoint a new warrant
agent.

          (b) Any corporation into which the Company or any new warrant agent
may be merged or any corporation resulting from any consolidation to which the
Company or any new warrant agent shall be a party or any corporation to which
the Company or any new warrant agent transfers substantially all of its
corporate trust or shareholders services business shall be a successor warrant
agent under this Warrant without any further act.  Any such successor warrant
agent shall promptly cause notice of its succession as warrant agent to be
mailed (by first class mail, postage prepaid) to the Holder at the Holder's last
address as shown on the Warrant Register.

     14.  Miscellaneous.
          -------------

          (a) This Warrant shall be binding on and inure to the benefit of the
parties hereto and their respective successors and permitted assigns.  This
Warrant may be amended only in writing signed by the Company and the Holder.

          (b) Subject to Section 14(a), above, nothing in this Warrant shall be
construed to give to any person or corporation other than the Company and the
Holder any legal or equitable right, remedy or cause under this Warrant; this
Warrant shall be for the sole and exclusive benefit of the Company and the
Holder.

          (c) This Warrant shall be governed by and construed and enforced in
accordance with the internal laws of the Commonwealth of Massachusetts without
regard to the principles of conflicts of law thereof.

          (d) The headings herein are for convenience only, do not constitute a
part of this Warrant and shall not be deemed to limit or affect any of the
provisions hereof.

          (e) In case any one or more of the provisions of this Warrant shall be
invalid or unenforceable in any respect, the validity and enforceability of the
remaining terms and provisions of this Warrant shall not in any way be affected
or impaired thereby and the parties will attempt in good faith to agree upon a
valid and enforceable provision which shall be a commercially reasonable
substitute therefor, and upon so agreeing, shall incorporate such substitute
provision in this Warrant.

                                       9
<PAGE>

          (f)  Nothing contained in this Warrant shall be construed as
conferring upon the holder hereof the right to vote or to consent as
stockholders in respect of the meetings of stockholders of the Company or the
election of members of the Board of Directors of the Company or any other
matter, or any rights whatsoever as stockholders of the Company or as imposing
any obligation on such holder to purchase any securities or as imposing any
liabilities on such holder as a stockholder of the Company, whether such
obligation or liabilities are asserted by the Company or by creditors of the
Company. Notwithstanding the foregoing, the Company will furnish to each holder
of any Warrants, promptly upon their becoming available, copies of all financial
statements, reports, notices and proxy statements sent or made available
generally by the Company to its stockholders or otherwise filed pursuant to the
provisions of the Securities Act or the Exchange Act.

                  [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK
                           SIGNATURE PAGE TO FOLLOW]

                                       10
<PAGE>

     IN WITNESS WHEREOF, the Company has caused this Warrant to be duly executed
by its duly authorized officer on the date first written above.

                              ORGANOGENESIS INC.

                              By: _________________________________
                                  Michael L. Sabolinski, M.D.
                                  President and Chief Executive Officer

                              HOLDER

                              _____________________________________
                              Signature

                              _____________________________________
                              Print Name

                                       11
<PAGE>

                                   EXHIBIT A

                         FORM OF ELECTION TO TRANSFER
                         ----------------------------

   [To be completed and signed only upon transfer of the foregoing Warrant]

     FOR VALUE RECEIVED, the undersigned hereby sells, assigns and transfers
unto ________________________________ the right represented by the within
Warrant to purchase  ____________ shares of Common Stock of Organogenesis Inc.
to which the within Warrant relates and appoints ________________ attorney to
transfer said right on the books of Organogenesis Inc. with full power of
substitution in the premises.

Dated:

_______________, ______

                         _______________________________________________
                         (Signature must conform in all respects to name of
                         holder as specified on the face of the Warrant)

                         _______________________________________________
                         Address of Transferee

                         _______________________________________________

                         _______________________________________________

In the presence of:

__________________________________

                                       12
<PAGE>

                                   EXHIBIT B

                         FORM OF ELECTION TO PURCHASE
                         ----------------------------

(To be executed by the Holder to exercise the right to purchase shares of Common
Stock under the foregoing Warrant)

To Organogenesis Inc.:

     In accordance with the Warrant enclosed with this Form of Election to
Purchase, the undersigned hereby irrevocably elects to purchase  _____________
shares of Common Stock, $.01 par value  ("Common Stock"), of Organogenesis Inc.
                                          ------------
and encloses herewith $________ in cash or certified or official bank check or
checks, which sum represents the aggregate Exercise Price (as defined in the
Warrant) for the number of shares of Common Stock to which this Form of Election
to Purchase relates, together with any applicable taxes payable by the
undersigned pursuant to the Warrant.

     The undersigned requests that certificates for the shares of Common Stock
issuable upon this exercise be issued in the name of

                                   PLEASE INSERT SOCIAL SECURITY OR
                                   TAX IDENTIFICATION NUMBER

                                   _____________________________________________

________________________________________________________________________________
                        (Please print name and address)
________________________________________________________________________________
________________________________________________________________________________

     If the number of shares of Common Stock issuable upon this exercise shall
not be all of the shares of Common Stock which the undersigned is entitled to
purchase in accordance with the enclosed Warrant, the undersigned requests that
a New Warrant (as defined in the Warrant) evidencing the right to purchase the
shares of Common Stock not issuable pursuant to the exercise evidenced hereby be
issued in the name of and delivered to:

________________________________________________________________________________
                        (Please print name and address)

________________________________________________________________________________
________________________________________________________________________________

Dated: _____________, ____              Signature: _____________________________

                                        Print Name: ____________________________

                                        Title (if applicable): _________________

(Signature must conform in all respects to name of holder as specified on the
face of the Warrant)

                                       13

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