February 12, 2010

Organovo Introduced to Private Investors by Italy’s Largest Bank

SAN DIEGO, Calif. & MILAN, Italy - (InternetPress) Feb 12, 2010 – Organovo, Inc., the world’s largest 3D bioprinting company, today announced that it had been selected for a round of private introductions to customers of Italy’s largest bank, Intesa SanPaolo.

Organovo participated in an investor event for select early stage companies in Milan, Italy, held by Intesa SanPaolo under the direction of Gaetano Micciché, Head of Corporate & Investment Banking Division for the bank and Chief Executive Officer of its subsidiary Banca IMI. From a group of 150 of companies applying to participate in the initiative, Organovo was among the final 12 selected to present to investors.

Intesa SanPaolo hosted the event as a service to their investor class banking customers. “Despite the fact that studies of angel investment returns, such as a 2008 Kaufman foundation report, show up to 27% annual return on investment, most private wealth managers and brokers are never going to present exciting private company opportunities to their customers because there are no fees involved for them,” Organovo CEO Keith Murphy pointed out. “Intesa SanPaolo is showing global leadership by making it a goal to create opportunities for their best customers simply by making introductions, even though the bank does not benefit directly.” Investment at this level is barred by regulation to all but wealthy individuals, who typically find investment opportunities in startups only through personal networks or by reaching out to the companies directly themselves. “A company like ours, of this size, has many duties,” explained Micciché. “Some important connections and partnerships are what we hope will be the result of this initiative.”

Maverick Angels, a California-based network and investor in Organovo, was selected by Intesa SanPaolo to help run the event. Maverick’s investment style is often described as being entrepreneurial, and it receives high marks from entrepreneurs themselves. “Maverick really has a system that works better than the other angel groups,” noted another company CEO in opening his presentation. Maverick’s increasing global profile made it a natural choice to achieve the bank’s goal: an exceptional event on the cutting edge of investment practices. “Having a set of investment terms essentially crafted by Maverick founder John Dilts, and having Maverick in the deal early has made it easy for Organovo to work with other investors”, Murphy noted. “Europe is an extremely important market for us due to the medical capabilities here and the well defined regulatory path for advanced therapies. Organovo was honored to be selected for this event, and is excited about the introductions and investment interest it has generated.”

About Organovo:

Organovo is a regenerative medicine company focused on delivering breakthrough human tissue printing technology and creating tissue on demand for research and surgical applications. The company's NovoGen three-dimensional printing technology is a platform that works across all tissue and cell types. Organovo is helping physicians and researchers fulfill the promise of regenerative medicine by overcoming critical problems in cardiovascular medicine, medical research, and transplant medicine. Organovo technology leads the way in solving complex medical problems with one overarching goal: to benefit the health and lives of our patients.