Checking In On Organovo

BioNap profile picture

By Jason Napodano, CFA

On March 15, 2013, Organovo Holdings (NASDAQ:ONVO) reported financial results for 2012 and provided insight into the business plan for 2013. By all measure, 2012 was a banner year for the company, kicking off with the reverse merger late 2011 and financings to fund operations that took place in February and March 2012 and culminating with the highly successful warrant tender started late December 2012 and just recently completed earlier this month. In between, the company continues to operate on its business plan, which includes delivering on, expanding, and signing new business collaborations. Total revenues in 2012 were $1.197 million, consisting of recognition under agreements with United Therapeutics, Pfizer, and the NIH.

…Existing Collaborations…

In December 2010, Organovo entered into a $600,000 collaborative research agreement with Pfizer (PFE) to develop specific three-dimensional tissue based drug discovery assays in two therapeutic areas utilizing the NovoGen MMX Bioprinter technology. Pfizer has paid the company all $600,000 under the agreement, as Organovo delivered the constructs to Pfizer during the fourth quarter 2012. Constructs delivered by Organovo are currently being evaluated in Pfizer's laboratory. No specific timeframe has been given, but we suspect that Pfizer will come back to Organovo in the next six to twelve months. Ideally, Pfizer and Organovo will sign an additional agreement that expands the relationship at that time. We anticipate any new deal signed will provide an upfront payment, as well as the potential to earn development, regulatory, and sales-related milestones, as well as royalties on commercialized products.

In October 2011, Organovo entered into a $1,365,000 research agreement with United Therapeutics (UTHR) to establish and conduct a research program to discover treatments for pulmonary hypertension using the NovoGen MMX Bioprinter technology. The initial term of the collaboration was for 30 months. However, in November 2012, Organovo and United Therapeutics

This article was written by

BioNap profile picture
This profile has been deactivated.

Recommended For You

Comments (24)

To ensure this doesn’t happen in the future, please enable Javascript and cookies in your browser.
Is this happening to you frequently? Please report it on our feedback forum.
If you have an ad-blocker enabled you may be blocked from proceeding. Please disable your ad-blocker and refresh.