Organovo and BICO (CELLINK) Reach Licensing Agreement on Bioprinting Patents
February 23 2022 - 7:05AM
Organovo Holdings, Inc. (Nasdaq: ONVO), and BICO today announced
they have reached agreement on a broad license for BICO and its
affiliate companies to Organovo’s foundational patent portfolio in
3D bioprinting. Founded in 2016, BICO (formerly Cellink) is the
leading bio convergence company in the world. Cellink continues to
operate as a wholly owned division of BICO.
Organovo exclusively licensed early bioprinting
work by Gabor Forgacs, its scientific founder, and Thomas Boland of
Clemson, both bioprinting pioneers. After its founding, the company
did early innovation in the 3D bioprinter space and obtained a
further broad set of patents that provide foundational claims in
the bioprinting space. In order to broaden the impact of the
technology and serve the needs of a broad array of researchers and
other users of bioprinting, the company seeks to make these patents
available for license to first rate bioprinter developers.
Organovo Executive Chairman Keith Murphy
commented, “Organovo celebrates the success of CELLINK’s
bioprinting product lines in opening up the horizons of 3D
bioprinting to customers. We are proud to be a part of enabling
CELLINK and BICO to grow these products and we look forward with
excitement to their next generation of bioprinters.”
Organovo and BICO were engaged in several legal
disputes regarding the patents. Under the new agreement, all civil
actions regarding potential infringement and IPRs concerning
validity of Organovo’s patents are dismissed and/or terminated.
Both BICO and Organovo have released each other from all previous
claims, demands liabilities and costs in favor of the beneficial
and sustainable solution created through this patent license
agreement.
About Organovo
Organovo is an early-stage biotechnology company
that is developing and utilizing highly customized 3D human tissues
as dynamic models of healthy and diseased human biology for drug
development. The company’s proprietary technology is being used to
build functional 3D human tissues that mimic key aspects of native
human tissue composition, architecture, function and
disease. Organovo’s advances include cell type-specific
compartments, prevalent intercellular tight junctions, and the
formation of microvascular structures. Management believes these
attributes can enable critical complex, multicellular disease
models that can be used to develop clinically effective drugs for
selected therapeutic
areas.
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. These statements include, among
others, those related to the potential benefits to Organovo of the
licensing agreement between Organovo and BICO. The forward-looking
statements contained herein are based on current expectations but
are subject to a number of risks and uncertainties. These risks and
uncertainties 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 15, 2021, as such risk factors are
updated in its most recently filed Quarterly Report on Form 10-Q
filed with the SEC on February 14, 2022. 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
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Counseladmin@amatoandpartners.com
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