Post by marriott on Apr 7, 2015 23:52:49 GMT
via Seeking Alpha
Organovo inks collaboration deal with L'Oreal USA
Apr 7 2015, 08:56 ET | About: Organovo Holdings, Inc. (ONVO) | By: Douglas W. House, SA News Editor
Organovo (NYSEMKT:ONVO) enters into a research collaboration with L'Oreal USA Products to develop skin tissue models using ONVO's NovoGen Bioprinter and L'Oreal's skin cell technology.
Under the terms of the agreement, L'Oreal will have the exclusive right to use the skin tissue models for the development, manufacturing, testing, evaluation and sale of non-prescription cosmetic, beauty, dermatology and skin care products and nutraceutical supplements. Organovo retains the right to use the skin tissue models for toxicity and efficacy testing of prescription drugs and for developing and testing surgically transplanted and therapeutic tissues.
The agreement has three phases: development, validation and commercial supply. The continuation from one phase to the next, at L'Oreal's sole discretion, is contingent on the skin tissue models meeting certain performance criteria. The development and validation phases each require L'Oreal to make an upfront payment and payments for certain deliverables. If the collaboration reaches the commercial phase, the companies will negotiate an exclusive commercial supply agreement which will include license and royalty terms.
Financial terms are not disclosed.
Organovo inks collaboration deal with L'Oreal USA
Apr 7 2015, 08:56 ET | About: Organovo Holdings, Inc. (ONVO) | By: Douglas W. House, SA News Editor
Organovo (NYSEMKT:ONVO) enters into a research collaboration with L'Oreal USA Products to develop skin tissue models using ONVO's NovoGen Bioprinter and L'Oreal's skin cell technology.
Under the terms of the agreement, L'Oreal will have the exclusive right to use the skin tissue models for the development, manufacturing, testing, evaluation and sale of non-prescription cosmetic, beauty, dermatology and skin care products and nutraceutical supplements. Organovo retains the right to use the skin tissue models for toxicity and efficacy testing of prescription drugs and for developing and testing surgically transplanted and therapeutic tissues.
The agreement has three phases: development, validation and commercial supply. The continuation from one phase to the next, at L'Oreal's sole discretion, is contingent on the skin tissue models meeting certain performance criteria. The development and validation phases each require L'Oreal to make an upfront payment and payments for certain deliverables. If the collaboration reaches the commercial phase, the companies will negotiate an exclusive commercial supply agreement which will include license and royalty terms.
Financial terms are not disclosed.