Organovo (ONVO +5.6%) is higher after receiving a formal merger proposal
from Viscient Biosciences, whose CEO, Keith Murphy, was a co-founder of
Organovo and the company’s CEO and Chairman during 2007-17.
“Having already established the paradigm for drug
discovery in 3D tissue in liver, Viscient now has the potential to
efficiently use the other tissues in Organovo’s portfolio to develop
drugs for additional high-value indications,” Murphy says, adding a
combined company “could be valued in the hundreds of millions over the
next couple of years.”
Viscient envisions the combined company could be
as much as 43% owned by ONVO’s existing shareholders and the rest owned
by Viscient shareholders.
https://seekingalpha.com/news/3503488-organovo-pops-merger-offer-firm-led-former-founder
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