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Organovo Announces $6.5 Million Private Placement to Advance 3D Bioprinting for Medical Applications
Date:2/14/2012

SAN DIEGO, Feb. 14, 2012 /PRNewswire/ -- Organovo Holdings, Inc. (OTCQB: ONVO) ("Organovo") today announced the successful completion of a merger on February 8, 2012, with Organovo, Inc. (the "Merger"), a company focused on the development of three-dimensional bioprinting technology for research and medical applications.  Concurrent with the Merger, Organovo closed a private placement consisting of approximately 6.5 million units of its securities to qualified accredited investors, for total gross proceeds of $6.5 million.

"Organovo's advanced bioprinting platform can replicate essential biology for research, drug discovery and development and, eventually, for therapeutic applications," stated Keith Murphy, chief executive officer of Organovo. "We have found success in achieving early revenue through strategic collaborations, and this funding will allow us to extend the reach and uses of 3D bioprinting through growth and innovation in the coming years."

Organovo will continue the business of Organovo, Inc., headquartered in San Diego, as a wholly-owned subsidiary under the leadership of Organovo, Inc.'s current management team, headed by Chief Executive Officer Keith Murphy. In completing the Merger, Organovo issued approximately 22.4 million shares of its common stock to the holders of Organovo, Inc. common stock. The merged company will be quoted on the OTC markets and on the OTCQB under the symbol "ONVO" beginning Tuesday, February 14, 2012. 

The securities sold in the private placement have not been registered under the Securities Act of 1933 and may not be resold absent registration under or exemption from such Act. This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities. This press release is being issued pursuant to and in accordance with Rule 135c under the Securities Act of 1933.

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