Biotech Values

[DewDiligence]

Tarveda terminates reverse-merger with ONVO:

https://www.businesswire.com/news/home/20200407005816/en

Tarveda Therapeutics…today announced that the proposed merger agreement with Organovo Holdings…has been terminated following the emergence of unanticipated, late opposition to the proposed transaction by major Organovo stockholders.

“We are disappointed that we will be unable to proceed with the planned transaction with Organovo. While surprised by the late decision of Organovo’s major stockholders to vote against the recommendation of Organovo’s special committee with the apparent intent to pursue a strategy which may include 3D bioprinting, we respect their decision,” said Drew Fromkin, Chief Executive Officer of Tarveda.

The reference to 3D bioprinting stems from the bizarre PR issued by Keith Murphy, founder of (private) Viscient Biosciences, on 3/31/20 (https://finance.yahoo.com/news/viscient-biosciences-bioprint-3d-lung-192510136.html ). I mentioned this PR in #msg-154699079.

Will ONVO end up reverse-merging with Viscient? That seems to be what Murphy wants, so stay tuned.

ONVO is -3% in AH trading, FWIW.