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BUZZ-Organovo rises as Eli Lilly acquires co's FXR program

Reuters
Feb 25, 2025
BUZZ-Organovo rises as Eli Lilly acquires co's FXR program

** Shares of Organovo Holdings ONVO.O more than tripled to $1.35 premarket

** ONVO says it is selling its FXR program, including lead asset FXR314, to Eli Lilly LLY.N

** ONVO's FXR program is focused on developing novel treatment approaches for inflammatory bowel disease

** LLY will pay ONVO $10 mln upfront and $50 mln if certain milestones are met in future, according to agreement

** LLY is acquiring all commercial and intellectual property rights to Organovo's FXR program for worldwide development

** Acquisition will allow Eli Lilly to further develop FXR314, starting from mid-stage, ONVO says

** ONVO fell ~68% in 2024

(Reporting by Kamal Choudhury in Bengaluru)

((Kamal.Choudhury@thomsonreuters.com;))

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