Boston, MA 10/24/2013 (wallstreetpr) – Organovo Holdings Inc (NYSEMKT:ONVO) is an organization founded in 2007 for developing artificial organs or tissues for both research and treatment of several ailments. On October 23, the company announced that it has achieved liver functionality in a 3D imprinted tissue and that these functions can be retained up to 40 days. This tissue was mainly developed with the intention of studying the effects of toxins in the liver and how to eradicate them in order to save the liver.
Keith Murphy, Organovo’s chief executive officer, was ecstatic with the results and stated that his additional validation of the liver functions in the tissues provided the base for a variety of applications in which these tissues can be used. He also mentioned that in April 2013, the 3D imprinted liver was usable for just five days as compared to the 40 days now along with drug. With this development the CEO was pleased that the company was right on track as per schedule.
Organovo’s key research and development fuels the share market
There was a sudden spurt in the increase (10%) of the company’s share price on Tuesday, October 22. This sudden upward taper can be attributed to the positive results that the company has achieved in the recent past including the research in bio-printing of functional tissues from human organs, drug invention and usage of artificially manufactured tissues in surgical procedures. However on Wednesday, October 23, the share price climbed a modest 5.2% and finished at $7.21.
Launch of new product in 2014
Based on the presentation of the company in 3rd Annual Cell Therapy Bioprocessing Conference in Bethesda, MD International Bioprocessing Conference on October 22, the development of the 3D liver tissues using the NovoGen MMX Bio-printer is going to be extended into creating a new product. The new product is a 3D human liver that is created from bio-printing from the donor who is also the patient. This product is also to be used in various studied regarding its therapeutic use.
