NEW YORK, May 5, 2015 /PRNewswire/ -- L'Oreal
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'Oreal'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'Oreal and Organovo by building new
breakthroughs in skin modeling."
About L'Oreal USA
L'Oreal USA is the largest subsidiary of the L'Oreal
Group, the worldwide leader in beauty. L'Oreal USA manages a portfolio of 30 iconic beauty
brands, including Clarisonic, Essie, Garnier, Giorgio Armani
Beauty, Kerastase, Kiehl's, Lancome, L'Oreal Paris, Matrix,
Maybelline New York, NYX, Redken, Soft-Sheen Carson, Urban Decay
and Yves Saint Laurent Beaute. In
addition to its corporate headquarters in New York City, L'Oreal 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.
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SOURCE L'Oreal USA; Organovo
Holdings, Inc.