Organovo (ONVO) receives proposal from Viscient to acquire ownership control

Organovo Holdings, Inc. (NASDAQ: ONVO) today confirmed that it has received a proposal from Viscient Biosciences (“Viscient”), an early-stage private company headquartered in San Diego, California, to acquire ownership control of Organovo.

As disclosed in August 2019, Organovo’s Board of Directors (the “Board”) determined that it would be in the best interests of Organovo’s stockholders to evaluate Organovo’s strategic alternatives. A Special Committee of the Board (the “Special Committee”) has retained Roth Capital Partners, a leading investment banking firm, to act as its financial advisor.

The Special Committee and the Board understand the importance of the strategic alternatives process to Organovo’s stockholders, and are diligently working in good faith and in an informed and deliberate manner to maximize stockholder value.

“I am pleased with what continues to be a robust process,” stated Taylor Crouch, Organovo’s Chief Executive Officer and President. “I am confident that the strategic alternatives process is the right course of action for Organovo to take in order to maximize value for its stockholders.”

Organovo intends to evaluate Viscient’s proposal in due course, and is not asking its stockholders to take any action at this time.

Organovo does not undertake any obligation to provide any updates with respect to this or any other proposed transaction, except as required by applicable law.

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