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Organovo Reports 2012 Financial Results
Date:3/18/2013

SAN DIEGO, March 18, 2013 /PRNewswire/ -- Organovo Holdings, Inc. (OTCQX: ONVO) ("Organovo"), a three-dimensional biology company focused on delivering breakthrough 3D bioprinting technology, has reported on its financial results for the year ended December 31, 2012.  The Company also reported on its corporate highlights during fiscal 2012.

2012 Corporate Highlights

  • Closed  $24.6 million in equity financings associated with the Company's go-public reverse merger;
  • Recorded $1.2 million in revenue, representing a twenty percent (20%) increase over the prior year
  • Received multiple issued patents, including the Company's first assigned patent, and licensed an additional issued patent
  • Formed a partnership with Autodesk Research to develop 3D bioprinting software
  • Joined QX tier of the OTC Markets
  • Moved to a new larger research and headquarters facility
  • Expanded executive management with the addition of Dr. Eric David as Chief Strategic Officer and Michael Renard as Chief Commercial Officer
  • Appointed an additional independent director to serve as Audit Committee Chairman
  • Reduced its warrant liability by $23.3 million
  • Named in  TR50Technology Review's annual list of the world's most innovative technology companies
  • Featured in Wall Street Journal
  • "Organovo successfully went public, grew substantially, and raised significant financing in 2012," stated Keith Murphy, chief executive officer of Organovo. "We continue to attract great partners and see tremendous scientific results from our bioprinting efforts.  We look forward to continued success in 2013 as we seek to continue to provide long-term shareholder value."

    Financial ResultsRevenues
    2012 total revenues of $1.2 million, representing an inc
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    SOURCE Organovo Holdings, Inc.
    Copyright©2012 PR Newswire.
    All rights reserved

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