SAN DIEGO, April 28, 2014 /PRNewswire/ -- Organovo Holdings, Inc. (NYSE MKT: ONVO) ("Organovo"), a three-dimensional biology company focused on delivering breakthrough 3D bioprinting technology, today announced that it has initiated contracting for toxicity testing using its 3D Human Liver Tissue for selected clients prior to full release.
Organovo's Chairman and Chief Executive Officer, Keith Murphy, commented "Organovo has received interest in advance of our planned launch from top 15 pharma company customers, small to midsize pharma companies, biotechnology companies, and private venture capital backed pharmaceutical development firms. The compelling data already generated on the performance of the 3D Human Liver Tissue has driven this interest, we believe, and I'm pleased that our team was able in a short time to accomplish all of the hard work that allowed us to begin signing contracts. We'll be able to deliver results for proprietary compounds and other needs, while completing the work for fuller product and service launch on our original timeline."
Organovo is making 3D Human Liver Tissue technology available to clients who have specific testing needs in their preclinical drug discovery programs. The company has begun signing research service contracts and is in discussions with additional customers for near-term needs, in a limited initial release of this service. Customers with needs in a research setting that align with the preliminary offering will be able to engage in the coming months, with fuller testing services including metabolic function to be offered over time. All testing will be performed at Organovo's facility by the Company's laboratory services tissue experts.
The Company believes that its 3D Human Liver tissue model represents a new and novel approach to the drug discovery and development process, providing significant added value to preclinical assessment studies. The long lasting viability and function of the tissue allows for extended study durations in vitro, enabling the assessment of the effects of low dose or repeated dosing regimens across a spectrum of biochemical, molecular, and histologic end points.
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