New York, NY (May 5, 2015) - L’Oréal USA, the largest subsidiary of the world’s leading beauty company, has announced a partnership with 3-D bioprinting company Organovo Holdings, Inc. (NYSE MKT: ONVO) ("Organovo"). Developed between L’Oreal’s U.S.-based global Technology Incubator and Organovo, the collaboration will leverage Organovo’s proprietary NovoGen Bioprinting Platform and L’Oréal’s expertise in skin engineering to develop 3-D printed skin tissue for product evaluation and other areas of advanced research.
This partnership marks the first-ever application of Organovo’s groundbreaking technology within the beauty industry.
“We developed our technology incubator to uncover disruptive innovations across industries that have the potential to transform the beauty business,” said Guive Balooch, Global Vice President of L’Oreal’s Technology Incubator. “Organovo has broken new ground with 3-D bioprinting, an area that complements L’Oreal’s pioneering work in the research and application of reconstructed skin for the past 30 years. Our partnership will not only bring about new advanced in vitro methods for evaluating product safety and performance, but the potential for where this new field of technology and research can take us is boundless.”
Organovo’s 3D bioprinting enables the reproducible, automated creation of living human tissues that mimic the form and function of native tissues in the body.
“We are excited to be partnering with L’Oreal, whose leadership in the beauty industry is rooted in scientific innovation and a deep commitment to research and development,” said Keith Murphy, Chairman and Chief Executive Officer at Organovo. “This partnership is a great next step to expand the applications of Organovo's 3-D bioprinting technology and to create value for both L’Oréal and Organovo by building new breakthroughs in skin modeling.”
About L’Oréal USA
L'Oréal USA is the largest subsidiary of the L'Oréal Group, the worldwide leader in beauty. L'Oréal USA manages a portfolio of 30 iconic beauty brands, including Clarisonic, Essie, Garnier, Giorgio Armani Beauty, Kérastase, Kiehl’s, Lancôme, L’Oréal Paris, Matrix, Maybelline New York, NYX, Redken, Soft-Sheen Carson, Urban Decay and Yves Saint Laurent Beauté. In addition to its corporate headquarters in New York City, L'Oréal USA has research, manufacturing and distribution facilities across 13 other states including Arkansas, California, Florida, Kentucky, New Jersey, Ohio, Texas and Washington with a workforce of more than 10,000 employees. For more information, visit www.LorealUSA.com or follow on Twitter @LOrealUSA.
About Organovo Holdings, Inc.
Organovo designs and creates functional, three-dimensional human tissues for use in medical research, cosmetic, and therapeutic applications. The Company develops 3D human tissue models through internal development and in collaboration with pharmaceutical, cosmetic, and academic partners. Organovo's 3D human tissues have the potential to accelerate the discovery process, enabling drug treatments and active agents to be developed faster and at lower cost. The company recently launched its initial product of the planned exVive3D™ portfolio offering, a 3D Human Liver Tissue for use in Toxicology and other preclinical drug testing. Additional products are in development, with anticipated release for an exVive3D™ Human Kidney Tissue in the latter half of calendar year 2016. The Company also actively conducts early research on specific tissues for therapeutic use in direct surgical applications. In addition to numerous scientific publications, the Company's technology has been featured in The Wall Street Journal, Time Magazine, The Economist, and numerous other media outlets. Organovo is changing the shape of medical research and practice. Learn more at www.organovo.com.
Safe Harbor Statement
Any statements contained in this press release that do not describe historical facts may 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. The factors that could cause actual future results to differ materially from current expectations include, but are not limited to, risks and uncertainties relating to the Company's ability to develop, market and sell products based on its technology; the expected benefits and efficacy of the Company's products and technology; the market acceptance of the Company's products; and the Company's business, research, product development, regulatory approval, marketing and distribution plans and strategies. These and other factors are identified and described in more detail in our filings with the SEC, including our Quarterly Report on Form 10-Q filed with the SEC on February 6, 2015. 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 we may issue in the future. Except as required by applicable law, including the securities laws of the United States, we do 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.