Organovo Files Counterclaims In Patent Lawsuit Brought Against It by CellInk
January 10 2022 - 12:00PM
Organovo Holdings, Inc. (Nasdaq: ONVO), today released its first
detailed response to the lawsuit Cellink (NASDAQ Stockholm: BICO)
filed against it in Delaware court in 2021. At issue in this
lawsuit is whether Cellink is infringing Organovo patents.
Organovo, as one of the earliest and most prominent 3D bioprinting
companies, has built a strong and foundational patent portfolio in
the space. Organovo believes that Cellink, as a newer company with
limited patent filings, has moved forward without regard to its
patents and now is at risk of owing significant license fees and
royalties to Organovo.
Organovo is accusing Cellink of infringing
several of Organovo’s patents, and thus Organovo filed
counterclaims to the Delaware suit on Friday, January 7, 2022, and
asserted an additional patent against Cellink. With trial set for
April 2023, Organovo looks forward to a speedy outcome to the case,
with the possibility to gain a damages award that might be tripled
if Cellink is determined to have willfully infringed Organovo’s
patents.
Organovo Executive Chairman Keith Murphy
commented on the legal proceedings, “Organovo has a powerful
foundational patent portfolio in the 3D bioprinting space. Cellink
launched itself and grew to $1.5B market capitalization on the
basis of bioprinting revenue streams Organovo now contends were
achieved through unauthorized use of Organovo’s intellectual
property. We look forward to the legal process to award Organovo
its due share of the revenue that Cellink has only achieved due to
such patent infringement. We believe that this revenue, and IP
licensing revenue more broadly in the bioprinting space, will
properly reward our investors for the early investment in
intellectual property.”
Third parties recognized Organovo’s bioprinting
IP as foundational and innovative as far back as 2015, before
Cellink announced its first printer. Organovo welcomes the
opportunity to hold Cellink accountable for the damages Organovo
has incurred due to Cellink’s unauthorized use of Organovo’s
IP.
About Organovo
Organovo is an early-stage biotechnology company
that is developing and utilizing highly customized 3D human tissues
as dynamic models of healthy and diseased human biology for drug
development. The company’s proprietary technology is being used to
build functional 3D human tissues that mimic key aspects of native
human tissue composition, architecture, function and
disease. Organovo’s advances include cell type-specific
compartments, prevalent intercellular tight junctions, and the
formation of microvascular structures. Management believes these
attributes can enable critical complex, multicellular disease
models that can be used to develop clinically effective drugs for
selected therapeutic
areas.
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 Quarterly Report on Form 10-Q filed with
the SEC on November 8, 2021. 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.
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