Organovo's FXR Program, including FXR314, to Be Acquired by Eli Lilly and Company
SAN DIEGO, Feb. 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 that Eli Lilly and Company (NYSE:LLY) ('Lilly') will acquire Organovo's FXR program, including its lead asset, FXR314.
'This is a significant milestone for our efforts to advance medicines for IBD using insights from our proprietary 3D human tissue models,' said Keith Murphy, Executive Chairman. 'We are excited to deliver FXR314 and our FXR program to Lilly for Phase 2 and further development. Their world-class development excellence and dedication to delivering for patients will provide an excellent pathway for FXR314 success, and we are pleased to have this opportunity to deliver for patients.'
Under this transaction, Organovo will receive an upfront payment as well as milestones to be paid as FXR314 achieves key regulatory and commercial milestones. Lilly is acquiring all commercial and intellectual property rights to Organovo's FXR program for worldwide development.
About OrganovoOrganovo 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 StatementsAny 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.
ContactCORE IRpr@coreir.com
Source: Organovo, Inc.Sign in to access your portfolio
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
an hour ago
- Yahoo
LEADING EDGE MATERIALS ANNOUNCES UP TO $4,000,000 NON-BROKERED PRIVATE PLACEMENT
LEADING EDGE MATERIALS ANNOUNCES UP TO C$4,000,000 NON-BROKERED PRIVATE PLACEMENT NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAWS. THIS PRESS RELEASE DOES NOT CONSTITUTE AN OFFER, OR A SOLICITATION OF ANY OFFER, TO BUY OR SUBSCRIBE FOR ANY SECURITIES IN LEADING EDGE MATERIALS IN ANY JURISDICTION. Vancouver, June 10, 2025 – Leading Edge Materials Corp. ('Leading Edge Materials' or the 'Company') (TSXV: LEM) (Nasdaq First North: LEMSE) (OTCQB: LEMIF) announces the intent to complete a non-brokered private placement of up to 25,000,000 units ('Units') at a price of C$0.16 per Unit for aggregate gross proceeds of up to C$4,000,000 (the 'Private Placement'). Leading Edge Materials intends to use net proceeds for the Company's projects, located in Sweden and Romania and for general working capital and corporate purposes. Each Unit will consist of one (1) common share (each, a 'Common Share') in the capital of the Company and one (1) Common Share purchase warrant (a 'Warrant'). Each Warrant will entitle the holder to purchase one Common Share (a 'Warrant Share') at a price of C$0.32 per Warrant Share until the date which is four (4) years from the closing date of the Private Placement (the 'Closing Date'). The Company expects certain insiders of the Company to participate in the Private Placement. Any participation by insiders in the Private Placement constitutes a 'related party transaction' as defined under Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions ('MI 61-101'). However, the Company expects to rely on exemptions from the formal valuation and minority shareholder approval requirements of MI 61-101 based on the fact that neither the fair market value of the Units subscribed for by the insiders, nor the consideration for the Units paid by such insiders, would exceed 25% of the Company's market capitalization as at the date of this news release. The Private Placement is directed towards Canadian, Nordic and other international investors. All securities issued under the Private Placement, including securities issuable on exercise of the Warrants, will be delivered from Canada and are subject to a hold period expiring four months and one day from the Closing Date. The Private Placement is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory approvals, including the approval of the TSX Venture Exchange. A finders' fees may be payable on a portion of the Private Placement. The securities have not been, and will not be, registered under the U.S. Securities Act, or any U.S. state securities laws, and may not be offered or sold in the U.S. or to, or for the account or benefit of, United States persons absent registration or an applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. This news release is not a prospectus under Regulation (EU) 2017/1129 (the 'EU Prospectus Regulation'). The Company has not authorized any offer of securities to the public (as defined in the EU Prospectus Regulation) in any EEA member state and no such prospectus has been or will be prepared in connection with the Private Placement. On behalf of the Board of Directors, Leading Edge Materials Corp. Kurt Budge, CEO For further information, please contact the Company at:info@ Follow usTwitter: About Leading Edge Materials Leading Edge Materials is a Canadian public company focused on developing a portfolio of critical raw material projects located in the European Union. Critical raw materials are determined as such by the European Union based on their economic importance and supply risk. They are directly linked to high growth technologies such as batteries for electromobility and energy storage and permanent magnets for electric motors and wind power that underpin the clean energy transition towards climate neutrality. The portfolio of projects includes the 100% owned Woxna Graphite mine (Sweden), 100% owned Norra Karr Heavy Rare Earth Elements project (Sweden) and the 51% owned Bihor Sud Nickel Cobalt exploration alliance (Romania). Additional Information This information is information that Leading Edge Materials Corp. is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication through the agency of the contact person set out above, at June 10, 2025 at 23:30 PM Vancouver time. Leading Edge Materials is listed on the TSXV under the symbol 'LEM', OTCQB under the symbol 'LEMIF' and Nasdaq First North Stockholm under the symbol 'LEMSE'. Mangold Fondkommission AB is the Company's Certified Adviser on Nasdaq First North and may be contacted via email CA@ or by phone +46 (0) 8 5030 1550. Reader Advisory This press release does not constitute an offer, or a solicitation of any offer, to buy or subscribe for any securities in Leading Edge Materials in any jurisdiction. This news release may include forward-looking information that is subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward-looking, including statements with respect to the closing of the Private Placement, the receipt of regulatory approvals, and the use of proceeds from the Private Placement. Although the Company believes the expectations expressed in such forward-looking information are based on reasonable assumptions, such information is not a guarantee of future performance and actual results or developments may differ materially from those contained in forward-looking information. Factors that could cause actual results to differ materially from those in forward-looking information include, but are not limited to, fluctuations in market prices, successes of the operations of the Company, the Company's ability to close the Private Placement, the Company's ability to obtain the required regulatory approvals, continued availability of capital and financing and general economic, market or business conditions. There can be no assurances that such information will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. The Company does not assume any obligation to update any forward-looking information except as required under the applicable securities laws. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Important information for EEA Investors The release, announcement or distribution of this press release may, in certain jurisdictions, be subject to restrictions. The recipients of this press release in jurisdictions where this press release has been published or distributed shall inform themselves of and follow such restrictions. This press release does not constitute an offer, or a solicitation of any offer, to buy or subscribe for any securities in Leading Edge Materials in any jurisdiction. Any investment decision in connection with the Private Placement must be made on the basis of all publicly available information relating to the Company and the Company's shares/Units. The information contained in this announcement is for background purposes only and does not purport to be full or complete. No reliance may be placed for any purpose on the information contained in this announcement or its accuracy or completeness. This announcement does not purport to identify or suggest the risks (direct or indirect) which may be associated with an investment in the Company or the new shares/Units. This press release is not a prospectus for the purposes of the EU Prospectus Regulation. Leading Edge Materials has not authorized any offer to the public of Units, shares or rights in any member state of the EEA and no prospectus has been or will be prepared in connection with the Private Placement. In the United Kingdom, this document and any other materials in relation to the securities described herein is only being distributed to, and is only directed at, and any investment or investment activity to which this document relates is available only to, and will be engaged in only with, 'qualified investors' who are (i) persons having professional experience in matters relating to investments who fall within the definition of 'investment professionals' in Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the 'Order'); or (ii) high net worth entities falling within Article 49(2)(a) to (d) of the Order (all such persons together being referred to as 'relevant persons'). In the United Kingdom, any investment or investment activity to which this communication relates is available only to, and will be engaged in only with, relevant persons. Persons who are not relevant persons should not take any action on the basis of this document and should not act or rely on it. Attachment LEMNR
Yahoo
an hour ago
- Yahoo
eSIM Go and CSG Accelerate, Simplify MVNO Journey
Modernised platform streamlines onboarding, enhances user experience and powers agile growth for MVNO customers LONDON, June 11, 2025--(BUSINESS WIRE)--As the global mobile virtual network operator (MVNO) market surges towards a projected $137 billion by 2030, eSIM Go, a digital connectivity pioneer, is scaling for future growth. With its modernised user platform, developed in collaboration with CSG® (NASDAQ: CSGS), eSIM Go will simplify and speed up the MVNO journey, enabling faster onboarding, richer self-service and seamless integration of digital offerings. "Businesses from fintechs to airlines are looking to deepen customer relationships by offering custom digital mobile services. But becoming an MVNO has traditionally been a slow, complex and inflexible process," said Zacc Couldrick, CEO, eSIM Go. "As we aim to eliminate the barriers to entry into the digital connectivity space, we needed a technology provider with deep network relationships and a history of simplifying complex processes. With CSG's proven, cloud-native technology, we've built a platform that makes it easy to launch, integrate and personalise connectivity offerings that customers truly value." eSIM Go's next-generation platform allows businesses to deploy new wireless services in as little as 48 hours. By integrating CSG Ascendon into the platform, eSIM Go customers benefit from streamlined onboarding and offboarding, and a fast, intuitive self-service experience. Whether scaling a product portfolio or entering new markets, eSIM Go customers can move with greater speed and agility to meet the evolving demands of a digital economy. "We're seeing a resurgence in MVNO innovation, as businesses create tailored connectivity services for niche and underserved markets," said Sean Casey, SVP, Product Management, CSG. "In a complex partnership ecosystem, eSIM Go's modernised platform redefines what's possible, making MVNO onboarding faster, easier and more scalable while building loyalty that lasts. This is a pivotal step in the evolution of digital connectivity, and it's an honour for CSG to support eSIM Go as it leads the charge in delivering simplified, future-ready solutions for sustainable growth." Discover how CSG's cloud-native platform supports innovation and scalability for MVNOs and for MVNEs, helping innovators like Three Group Solutions drive agility and growth. About CSG CSG empowers companies to build unforgettable experiences, making it easier for people and businesses to connect with, use and pay for the services they value most. Our customer experience, billing and payments solutions help companies of any size make money and make a difference. With our SaaS solutions, company leaders can take control of their future and tap into guidance along the way from our fiercely committed and forward-thinking CSGers around the world. Want to be future-ready and a change-maker like the global brands that trust CSG? Visit to learn more. About eSIM Go eSIM Go empowers businesses of any size to offer their own digital connectivity solutions to customers, providing everything needed to scale their global opportunity and go to market fast. Any commercial model can be aligned with eSIM Go's complete eSIM product ecosystem, enabling business partners to embed our capabilities into their product via API, co-brand a fully managed eSIM service or pursue an affiliate route. Global brands in travel, MNO/MVNO, fintech and more trust eSIM Go to generate revenue and increase customer loyalty through high quality eSIM data bundles based on over 1,000 networks in 190+ countries. For more, see View source version on Contacts Julia DakhliaPublic Relations+1 (402) John ReaInvestor Relations+1 (210) Davis BarkerInvestor Relations+1 (303) Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
an hour ago
- Yahoo
Jim Cramer Recommends Royal Caribbean Cruises Over Viking Holding (VIK)
We recently published a list of . In this article, we are going to take a look at where Viking Holdings Ltd (NYSE:VIK) stands against other stocks that Jim Cramer discusses. A caller asked for Cramer's thoughts on Viking Holdings Ltd (NYSE:VIK), and he replied: 'Okay, I like Viking, but I thought they were tepid when they came on, and therefore I'm going to send you to Royal. I think RCL is now the gold standard, and that's the one I want to own.' Viking (NYSE:VIK) provides transport services for travelers and offers tourism experiences that include guided tours and other activities for its guests. Moreover, on March 14, Cramer was bullish on the company as he said: 'Regular viewers know I am a big fan of the cruise lines… Viking's a unique player with an impressive focus on rich American baby boomers. We watched with glee as Viking stock glided higher and higher and higher throughout last year and even the first few weeks of 2025, eventually it peaked at 53 bucks and change in early February just before the market-wide sell-off. Since then, the stock's fallen back to $40, down roughly 25% from its highs just over a month ago… The cruise lines are different from other travel plays. They represent incredible value versus traditional vacation alternatives…For Viking in particular, we have a fresher company-specific catalyst. On Tuesday morning, the company reported an excellent quarter with in-line revenue and impressive 9-cent earnings beat off a 36-cent basis… Overall, VIK ranks 5th on our list of stocks that Jim Cramer discusses. While we acknowledge the potential of VIK as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock. READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. This article is originally published at Insider Monkey.
