Replies to post #10436 on Organovo Holdings, Inc. (ONVO)

[RandolRocketman]

Organovo Files Counterclaims In Patent Lawsuit Brought Against It by CellInk
BY GlobeNewswire
— 12:00 PM ET 01/10/2022
SAN DIEGO, Jan. 10, 2022 (GLOBE NEWSWIRE) -- Organovo Holdings, Inc. (ONVO) , today released its first detailed response to the lawsuit Cellink filed against it in Delaware court in 2021. At issue in this lawsuit is whether Cellink is infringing Organovo (ONVO) patents. Organovo (ONVO), as one of the earliest and most prominent 3D bioprinting companies, has built a strong and foundational patent portfolio in the space. Organovo (ONVO) believes that Cellink, as a newer company with limited patent filings, has moved forward without regard to its patents and now is at risk of owing significant license fees and royalties to Organovo (ONVO).

Organovo (ONVO) is accusing Cellink of infringing several of Organovo’s patents, and thus Organovo (ONVO) filed counterclaims to the Delaware suit on Friday, January 7, 2022, and asserted an additional patent against Cellink. With trial set for April 2023, Organovo (ONVO) looks forward to a speedy outcome to the case, with the possibility to gain a damages award that might be tripled if Cellink is determined to have willfully infringed Organovo’s patents.

Organovo (ONVO) Executive Chairman Keith Murphy commented on the legal proceedings, “Organovo has a powerful foundational patent portfolio in the 3D bioprinting space. Cellink launched itself and grew to $1.5B market capitalization on the basis of bioprinting revenue streams Organovo (ONVO) now contends were achieved through unauthorized use of Organovo’s intellectual property. We look forward to the legal process to award Organovo (ONVO) its due share of the revenue that Cellink has only achieved due to such patent infringement. We believe that this revenue, and IP licensing revenue more broadly in the bioprinting space, will properly reward our investors for the early investment in intellectual property.”

Third parties recognized Organovo’s bioprinting IP as foundational and innovative as far back as 2015, before Cellink announced its first printer. Organovo (ONVO) welcomes the opportunity to hold Cellink accountable for the damages Organovo (ONVO) has incurred due to Cellink’s unauthorized use of Organovo’s IP.