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Organovo Holdings, Inc. (ONVO) Making a Splash in Biopharmaceutical Industry with Innovative 3D Bioprinting Technology
Organovo Holdings, Inc. (NYSE MKT: ONVO) is an early commercial stage company focusing on the development and commercialization of functional human tissues for use in drug discovery and medical research. Utilizing its proprietary three-dimensional bioprinting technology, the company enables reproducible, automated creation of living human tissues that mimic the form and function of native tissues in the body. Organovo’s exVive3D™ product portfolio includes a recently launched 3D human liver tissue for use in toxicology and preclinical drug testing. The company plans to expand upon its existing product portfolio in the latter half of 2016 through the launch of its exVive3D human kidney tissue.
Since launching its 3D human liver tissue on April 1, 2014, the company has made significant strides toward increasing its market share within the $50 billion research and development sector of the pharmaceutical industry. Earlier this month, Organovo reported that it had already recording total contract bookings for its innovative product amounting to approximately $1.94 million, including $0.29 million in existing revenue. Among these orders, the company secured partnerships with top 25 global pharmaceutical companies, as well as additional public pharmaceutical companies of all sizes in the United States, Europe and Asia.
“Response to the exVive3D human liver tissue has been strong, and in line with our expectations,” Keith Murphy, chief executive officer of Organovo, stated in a news release. “We continue to expect this tissue to grow into the tens of millions in annual revenue, and that it has $100M+ revenue potential.”
For Organovo, fiscal year 2015 was filled with milestones that should provide the company with a strong platform to realize sustainable returns moving forward. The release of the exVive3D human liver tissue set the stage for a host of industry recognition – including being named among the ‘Top 10 Innovations of 2014’ by The Scientist magazine and ‘The World’s Top 10 Most Innovative Companies of 2015’ by Fast Company magazine. Additionally, Organovo diversified its market potential through a partnership with L’Oreal USA to develop 3D printed skin tissues for product evaluation, marking the company’s first foray into the beauty industry.
The company’s current momentum following the successful release of its initial product could be a promising indication of Organovo’s future growth potential. For prospective shareholders, the recent commercialization of its exVive3D human liver tissue, as well as the continued development of its human kidney tissue product, makes Organovo an exciting investment opportunity to put on radar.
For more information, visit www.organovo.com
