Item 1.01 Entry into a Material Definitive Agreement.
On March 10, 2023, Organovo, Inc. ("Organovo"), a wholly-owned subsidiary of
Organovo Holdings, Inc., entered into and closed an asset purchase agreement
(the "Purchase Agreement") with Metacrine, Inc. ("Metacrine"). Pursuant to the
Purchase Agreement, Organovo acquired Metacrine's FXR program from Metacrine in
consideration of cash payments totaling $4 million, of which $2 million was paid
at closing and the remaining $2 million will be due shortly after the completion
of the transfer of the FXR program to Organovo. The parties to the Purchase
Agreement have agreed to customary representations, warranties and closing
conditions for transactions of this type.
The foregoing description of the terms of the Purchase Agreement does not
purport to be complete and is subject to, and qualified in its entirety by
reference to, the complete text of the Purchase Agreement, which will be filed
with the Securities and Exchange Commission as an exhibit to Organovo's Annual
Report on Form 10-K for the year ending March 31, 2023 or pursuant to an
amendment to this Current Report on Form 8-K.
Item 9.01 Financial Statements and Exhibits.
Exhibit
No. Description
104 Cover Page Interactive Data File, formatted in Inline Extensible
Business Reporting Language (iXBRL).
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