Organovo Division Samsara Sciences Announces Multi-Year Supply Agreement With Lonza Bioscience Solutions
March 26 2018 - 7:05AM
Organovo Holdings, Inc. (NASDAQ:ONVO) (“Organovo”) today announced
that its wholly-owned subsidiary, Samsara Sciences, Inc.
(“Samsara”), a provider of highly specialized human liver cells,
entered a non-exclusive global supply agreement with Lonza
Bioscience Solutions (“Lonza”). Under the terms of the
agreement, Lonza will market human cell products from Samsara for
further distribution to its customers.
“We’re incredibly pleased to begin this partnership with Lonza,
which allows us to tap into their outstanding global sales and
marketing capabilities and expand the reach of our human cell
products,” said Dr. Sharon Presnell, president, Samsara and
chief scientific officer, Organovo. “This agreement, which
represents Samsara’s single largest contract to date, continues to
establish Samsara as an emerging leader in the production and
delivery of specialty human liver cells for use by biopharma
clients in their research programs. Samsara has more than
doubled its sales over the last year, and we expect that growing
demand for our library of well-characterized healthy and
disease-origin cells will continue to provide attractive revenue
opportunities for our
business.”
“Organovo’s mission to revolutionize how new therapies are
discovered, tested and ultimately delivered to patients begins with
high-quality donor cells that are both the building blocks of our
complex 3D tissues, and are also foundational elements in our
client’s research programs,” said Taylor J. Crouch, CEO,
Organovo. “We’re seeing great commercial traction from this
segment of our business, and believe it will become a bigger
contributor to our revenue mix as we look ahead to fiscal
2019. We expect the Lonza agreement will accelerate the
commercial penetration of our cell products in the global
biopharma, academic and research markets. In addition to
boosting our top-line growth, Samsara’s leading cell products also
continue to support our own R&D mission, including our liver
tissue disease modeling platforms for non-alcoholic steatohepatitis
(“NASH”) and fibrosis, as well as our NovoTissuesTM IND-track liver
therapeutic program for the treatment of alpha-1 antitrypsin
deficiency.”
About Organovo Holdings, Inc.Organovo is
developing and commercializing a platform technology to produce and
study living tissues that emulate key aspects of human biology and
disease for use in drug discovery, clinical development, and
therapeutic applications. The Company develops tissue systems
through internal research programs and in collaboration with
pharmaceutical, academic and other partners. Organovo's
living tissues have the potential to transform the drug discovery
process, enabling treatments to be developed more effectively and
with greater relevance to performance in human trials and
commercialization. The Company’s ExViveTM Liver and Kidney
Tissues are used in disease modeling for NASH and fibrosis,
high-value drug profiling, target and marker discovery/validation,
and other drug testing. The Company is also advancing a
preclinical program to develop its NovoTissues® liver therapeutic
tissues for critical unmet medical needs, including certain
life-threatening pediatric diseases. The Company has received
orphan designation for its potential treatment of
alpha-1-antityrpsin deficiency, its lead indication within the
category of inborn errors of metabolism. Organovo is
changing the shape of life science research and transforming
medical care. Learn more at www.organovo.com.
About Samsara Sciences, Inc.Samsara is
dedicated to the provision of high-quality primary human liver and
kidney cells for use in pharmaceutical and academic research
focused on human health and disease. Samsara is a
wholly-owned subsidiary of Organovo Holdings, Inc. Learn more
at www.samsarasciences.com.
Forward-Looking Statements Any statements
contained in this press release that do not describe historical
facts constitute forward-looking statements as that term is defined
in the Private Securities Litigation Reform Act of 1995. Any
forward-looking statements contained herein are based on current
expectations, but are subject to a number of risks and
uncertainties. Forward-looking statements include, but are
not limited to, statements regarding the potential for one or more
customer’s electing to move toward framework agreements involving
annual budgets, revenue commitments, and/or dedicated research
plans, the expected costs, timing and operational benefits of the
Company’s restructuring plan, the financial impact of the Company’s
restructuring plan on its future operating costs and financial
results, and statements regarding the potential benefits and
therapeutic uses of the Company’s therapeutic liver tissue.
The factors that could cause the Company's actual future results to
differ materially from current expectations include, but are not
limited to, risks and uncertainties relating to the Company's
ability to develop, market and sell products and services based on
its technology; the expected benefits and efficacy of the Company's
products, services and technology; the Company’s ability to
successfully complete studies and provide the technical information
required to support market acceptance of its products, services and
technology, on a timely basis or at all; the Company's business,
research, product development, regulatory approval, marketing and
distribution plans and strategies, including its use of third party
distributors; the Company’s ability to recognize deferred revenue;
the final results of the Company's preclinical studies may be
different from the Company's studies or interim preclinical data
results and may not support further clinical development of its
therapeutic tissues; the Company may not successfully complete the
required preclinical and clinical trials required to obtain
regulatory approval for its therapeutic tissues on a timely basis
or at all; and the Company’s ability to meet its fiscal year 2018
outlook. These and other factors are identified and described in
more detail in the Company's filings with the SEC, including its
Annual Report on Form 10-K filed with the SEC on June 7, 2017. You
should not place undue reliance on these forward-looking
statements, which speak only as of the date that they were made.
These cautionary statements should be considered with any written
or oral forward-looking statements that the Company may issue in
the future. Except as required by applicable law, including the
securities laws of the United States, the Company does not intend
to update any of the forward-looking statements to conform these
statements to reflect actual results, later events or circumstances
or to reflect the occurrence of unanticipated events.
Investor Contact:
Steve Kunszabo
Organovo Holdings, Inc.
+1 (858) 224-1092
skunszabo@organovo.com
Press Contact:
Jessica Yingling
Little Dog Communications
+1 (858) 480-2411
jessica@litldog.com
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