Organovo, the 3D Bioprinting startup, announced they've received USD$6.5M in a private placement investment to bolster their research budget.
Organovo has been working on the problem of 3D printing live human tissue - but not with the intention of surgically inserting said tissue into live humans. No, instead they wish to create live human tissue in such a way to permit drug and therapy testing without involving human or animal subjects. According to Keith Murphy, Organovo CEO:
Organovo's advanced bioprinting platform can replicate essential biology for research, drug discovery and development and, eventually, for therapeutic applications. We have found success in achieving early revenue through strategic collaborations, and this funding will allow us to extend the reach and uses of 3D bioprinting through growth and innovation in the coming years.