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Organovo Reports Fiscal 2013 Financial Results
Date:5/28/2013

SAN DIEGO, May 28, 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 three month transition period ended March 31, 2013, completing the Company's fiscal 2013 reporting. The Company also reported on its corporate highlights during fiscal 2013.

FY2013 Corporate Highlights

  • Organovo achieved first fully cellular, functional 3D bioprinted liver tissue, demonstrating the power of our bioprinting technology to create functional human tissue that replicates human biology better than what has come before;
  • Reduced derivative-liability-laden warrant overhang by approximately 88 percent, resulting in shareholder equity at the end of FY 2013 exceeding the respective initial listing requirement for either NYSE or NASDAQ;
  • Formed a collaboration with OHSU Knight Cancer Institute to develop more clinically predictive in vitro three dimensional cancer models;
  • Partnered with ZenBio to create 3D tissue models;
  • Formed a partnership with Autodesk Research to develop 3D bioprinting software;
  • Received multiple issued patents, including the Company's first assigned patent, and acquired an additional issued patent;
  • Joined QX tier of the OTC Markets;
  • Moved to a new, larger research and headquarters facility;
  • Expanded executive management team with the addition of Dr. Eric David as Chief Strategic Officer and Michael Renard as Executive Vice President of Commercial Operations;
  • Appointed additional independent director James Glover to the Board of Directors and to serve as Audit Committee Chairman;
  • Featured in Wall Street Journal.
  • "Organovo reached important milestones in demonstrating our ability to create functional human tissues in fiscal year 2013," stated Keith Murphy, chief executive officer o
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    SOURCE Organovo Holdings, Inc.
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