SAN DIEGO, April 28, 2014 /PRNewswire/ -- Organovo Holdings,
Inc. (NYSE MKT: ONVO) ("Organovo"), a three-dimensional biology
company focused on delivering breakthrough 3D bioprinting
technology, today announced that it has initiated contracting for
toxicity testing using its 3D Human Liver Tissue for selected
clients prior to full release.
Organovo's Chairman and Chief Executive Officer, Keith Murphy, commented "Organovo has received
interest in advance of our planned launch from top 15 pharma
company customers, small to midsize pharma companies, biotechnology
companies, and private venture capital backed pharmaceutical
development firms. The compelling data already generated on
the performance of the 3D Human Liver Tissue has driven this
interest, we believe, and I'm pleased that our team was able in a
short time to accomplish all of the hard work that allowed us to
begin signing contracts. We'll be able to deliver results for
proprietary compounds and other needs, while completing the work
for fuller product and service launch on our original
timeline."
Organovo is making 3D Human Liver Tissue technology available to
clients who have specific testing needs in their preclinical drug
discovery programs. The company has begun signing research
service contracts and is in discussions with additional customers
for near-term needs, in a limited initial release of this
service. Customers with needs in a research setting that
align with the preliminary offering will be able to engage in the
coming months, with fuller testing services including metabolic
function to be offered over time. All testing will be
performed at Organovo's facility by the Company's laboratory
services tissue experts.
The Company believes that its 3D Human Liver tissue model
represents a new and novel approach to the drug discovery and
development process, providing significant added value to
preclinical assessment studies. The long lasting viability
and function of the tissue allows for extended study durations in
vitro, enabling the assessment of the effects of low dose or
repeated dosing regimens across a spectrum of biochemical,
molecular, and histologic end points.
For more information or to discuss specific study requirements,
clients can contact us at sales@organovo.com.
About Organovo Holdings, Inc.
Organovo designs and creates functional, three-dimensional human
tissues for medical research and therapeutic applications. The
Company is collaborating with pharmaceutical and academic partners
to develop human biological disease models in three dimensions.
These 3D human tissues have the potential to accelerate the drug
discovery process, enabling treatments to be developed faster and
at lower cost. In addition to numerous scientific publications, the
Company's technology has been featured in The Wall Street Journal,
Time Magazine, The Economist, and numerous others. Organovo is
changing the shape of medical research and practice. Learn more at
www.organovo.com.
Safe Harbor Statement
Any statements contained in this press release that do not
describe historical facts may constitute forward-looking statements
as that term is defined in the Private Securities Litigation Reform
Act of 1995. Any forward-looking statements contained herein are
based on current expectations, but are subject to a number of risks
and uncertainties. The factors that could cause actual future
results to differ materially from current expectations include, but
are not limited to, risks and uncertainties relating to the
Company's ability to develop, market and sell products based on its
technology; the expected benefits and efficacy of the Company's
products and technology; the market acceptance of the Company's
products; and the Company's business, research, product
development, regulatory approval, marketing and distribution plans
and strategies. These and other factors are identified and
described in more detail in our filings with the SEC, including our
prospectus supplement filed with the SEC on November 27, 2013 and our transition report on
Form 10-KT filed with the SEC on May 24,
2013 as well as our other filings with the Securities and
Exchange Commission. You should not place undue reliance on these
forward-looking statements, which speak only as of the date that
they were made. These cautionary statements should be considered
with any written or oral forward-looking statements that we may
issue in the future. Except as required by applicable law,
including the securities laws of the
United States, we do not intend to update any of the
forward-looking statements to conform these statements to reflect
actual results, later events or circumstances or to reflect the
occurrence of unanticipated events.
SOURCE Organovo Holdings, Inc.