Organovo sold its FXR program, including FXR314, to Eli Lilly, receiving an upfront payment and future milestone incentives.
Quiver AI Summary
Organovo Holdings, Inc. announced the successful sale of its FXR program, which includes the lead asset FXR314, to Eli Lilly and Company. The transaction was finalized on March 25, 2025, providing Organovo with an upfront payment and future milestone payments linked to FXR314 achieving key regulatory and commercial goals. Eli Lilly will take over all commercial and intellectual property rights for the FXR program and manage future clinical development. Organovo is a clinical stage biotechnology company that focuses on developing drugs using three-dimensional human tissues to replicate aspects of native human tissue.
Potential Positives
- The successful sale of the FXR program to Eli Lilly represents a strategic partnership with a major player in the pharmaceutical industry, potentially increasing credibility and visibility for Organovo.
- Organovo will receive an upfront payment and have the opportunity for future milestone payments, which could provide significant financial benefits as the FXR314 asset achieves key regulatory and commercial milestones.
- The transaction allows Organovo to focus on its core strengths in developing novel treatment approaches while Lilly takes on the responsibility for the future clinical development of the FXR program.
Potential Negatives
- The sale of the FXR program may indicate that Organovo is divesting key assets, potentially signaling a lack of confidence in its own developmental capabilities.
- The company will now rely on Eli Lilly for future clinical development, which may raise concerns about its independence and strategic direction.
- Organovo's reliance on future milestone payments could pose financial risks if those milestones are not achieved or delayed.
FAQ
What is the FXR program sold by Organovo?
The FXR program, including the lead asset FXR314, focuses on treating inflammatory bowel disease (IBD).
Who acquired Organovo's FXR program?
Eli Lilly and Company acquired the FXR program and all related commercial and intellectual property rights.
What are the financial terms of the sale?
Organovo received an upfront payment, with future milestone payments tied to regulatory and commercial achievements of FXR314.
What is Organovo's focus as a biotechnology company?
Organovo develops novel treatments using 3D human tissues for drug development, particularly for inflammatory bowel disease.
Where can I find more information about Organovo?
More information about Organovo can be found on their official website at www.organovo.com.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$ONVO Hedge Fund Activity
We have seen 5 institutional investors add shares of $ONVO stock to their portfolio, and 19 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- ARMISTICE CAPITAL, LLC added 420,645 shares (+34.5%) to their portfolio in Q4 2024, for an estimated $193,454
- VANGUARD GROUP INC removed 232,847 shares (-67.0%) from their portfolio in Q4 2024, for an estimated $107,086
- PRESCOTT GROUP CAPITAL MANAGEMENT, L.L.C. removed 133,524 shares (-32.2%) from their portfolio in Q4 2024, for an estimated $61,407
- WEDBUSH SECURITIES INC added 18,807 shares (+inf%) to their portfolio in Q4 2024, for an estimated $8,649
- TWO SIGMA SECURITIES, LLC removed 15,169 shares (-100.0%) from their portfolio in Q4 2024, for an estimated $6,976
- RENAISSANCE TECHNOLOGIES LLC removed 12,398 shares (-28.2%) from their portfolio in Q4 2024, for an estimated $5,701
- GEODE CAPITAL MANAGEMENT, LLC removed 4,947 shares (-3.9%) from their portfolio in Q4 2024, for an estimated $2,275
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Full Release
SAN DIEGO, March 25, 2025 (GLOBE NEWSWIRE) -- Organovo Holdings, Inc. (Nasdaq:ONVO) (“Organovo” or the “Company”), a clinical stage biotechnology company focused on developing novel treatment approaches in inflammatory bowel disease (IBD), today announced the successful close of the sale of its FXR program, including lead asset FXR314, to Eli Lilly and Company (NYSE:LLY) (“Lilly”). The transaction was completed on March 25, 2025.
With the closing, Organovo receives an upfront payment, with future milestones to be paid as FXR314 hits key regulatory and commercial milestones. Lilly is acquiring all commercial and intellectual property rights to Organovo’s FXR program for worldwide development and will be responsible for all future clinical development.
About Organovo
Organovo is a clinical stage biotechnology company that is developing drugs that are demonstrated to be effective in three-dimensional (3D) human tissues as candidates for drug development. The company has proprietary technology used to build 3D human tissues that mimic key aspects of native human tissue composition, architecture, function, and disease. For more information visit Organovo's website at
www.organovo.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. 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 May 31, 2024, as such risk factors are updated in its most recently filed Quarterly Report on Form 10-Q filed with the SEC on February 19, 2025 and the Registration Statement on Form S-1 (File No. 333-282841). 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.
Contact
Investor Relations
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Source: Organovo, Inc.
