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Saturday, August 30, 2014 9:27:45 PM
Dear Mr. Xxxxx,
Thank you for both your interest and your investment. At Organovo, we design and create functional human tissues with our three-dimensional bioprinting technology. Our focus is on developing a range of human tissues and disease models for medical research and therapeutic applications. While we do not currently sell bioprinters, it would be incorrect to characterize our business model as a service model. We are product focused (functional human tissues) with applications that are expected to generate revenue streams from a broad variety of complimentary paths. As detailed in our SEC filings, our current revenues are derived from a combination of government grants and revenue from our two collaborative partners, Pfizer and United Therapeutics. The business model we pursue in the development of custom tissue constructs for pharmaceutical companies combines payments for the development phase of the constructs, milestone payments in the tens of millions for each drug as it passes through clinical milestones, and then annual royalty in the 3-7 percent range on each commercialized drugs.
We expect to launch our initial product in the research tools space in 2014, a liver toxicity assay. Over time we will expand the type ad number of assays.
We also are pursuing therapeutic tissue products. Initial products will be simple tissues such as blood vessels, muscle patches, and nerve grafts. Long-term we aspire to the creation of functional organs such as a kidney or liver among other things. Unlike the previously mentioned products, which don’t require FDA regulation for sale to customers, therapeutic tissues will.
You may have noticed our recent partnership with the Knight Cancer Center, where we will jointly work to develop new biologic models that more closely resemble human cancer and malignant diseases, with a view toward delivery better oncology therapies to patients. You may already know that half of all drugs commercialized by big pharma are sourced from academic centers such as Knight. Opportunities like we have at Knight represent an opportunity to capture royalties for drugs developed by the centers.
These are a few of the opportunities we envision, all of which have large market potential.
Best to you,
Barry
repost from source: http://investorshub.advfn.com/boards/read_msg.aspx?message_id=84926923
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