Are you sure ... about what you just wrote?
apparently ... INPSHERO ... creates the same structures that can be found in the organs: (true to original)
"he 3D-micro tissues developed by InSphero build up human organs true to original in a miniaturized scale, enabling the improvement of predictability of in vitro tests analyzing new drug compounds"
To meet the rapidly growing demand on their 3D microtissues across Europe, InSphero recently opened a new sales office in Germany. 3D microtissues will now be delivered to the customer without custom clearance delays and with lower shipping costs. In addition, the company has appointed Cambridge Bioscience, a leading specialist distributor of life science research products in the UK, as its exclusive UK distributor for 3D cell culture products and services.
The company’s strong position as a leading supplier of 3D microtissues for in vitro drug testing is emphasized by the fact that the company has been named one of the top ten Swiss start-ups for the third year in running. In addition, InSphero’s CEO Dr. Jan Lichtenberg was selected as a finalist in the EY Entrepreneur of the Year 2013 award in the Emerging Entrepreneur category, which honors outstanding Swiss entrepreneurial personalities.
In addition, if you search the following string: ". Paula Thompson asked me to start by talking about how I got involved in doing Taking Sides books. "
"Invetech has announced the availability of a commercial 3D Bioprinter. It's being distributed by Organovo to research institutions around the world. "
in addition, if you go on the ONVO website ... in a 2009 PR ONVO reported:
"Invetech was asked to design and develop a highly integrated, extremely reliable and simple to use 3D bio-printer system which could then be transferred to manufacture and commercial sale. "
My question is? ... is ONVO selling the 3d printers? if SO ... ... does ONVO limit the way buyers of the 3D bioprinters use them (so that t ey do not become competitors)? Has any revenue been generated?
YOU CAN find the presentation by googling the following string:
"FY2010 Research, Instruction and Public Service, and Academic Enterprise External Awards: "
go to slide 8
"Invented by Professor Gabor
Forgacs at MU, Keith Murphy is
Marketed throught Invetech and Pfizer
NOW, Modern Meadows!!"
well what does that means? ... what has Invetech being Marketing?
What has Modern Meadows to do with orgnanovo? ... what's the relationship there?... other than Foracs
Well done! .. finally a message (from a ONVO long investors) ... that does make sense! ... I do respect your opinion. It is also possible that ONVO technology / products could be superior to those currently offered by insphero (more later). However, what strikes me ... is that ... in november 2012 ... pfizer started a collaborative agreement using Inphero's products. Pfizer already had a partnership with ONVO (since 2010) for the same type of tissues/technology. In the spring of 2012 ... ONVO delivered all the "sample products" and results to Pfizer. Since then investors have not heard a world from Pfizer about Organovo ... while ... the only thing ONVO's CEO has been talking about is that they are ... "negotiating".
All we know ... is that in November 2012 (when PFE already had ONVO's results) ... PFE started a partnership with ONVO's competitors. This is somehow puzzling to me!
With respect to .... the comparison between a Private and a public Company ... .. I do not see any problem! ... as long as you apply a discount factor for the liquidity offered by the market!
When you acquire a privately held Company ... .. you value it ... also by comparing it to the valuation of Public listed companies (then you add a discount factor).
While Comparing ONVO at Insphero might not be 100% accurate ... ... a 31x higher valuation (corrected for market liquidity) for ONVO makes simply no economic sense!
The only explanation I can give to such an outcome ... is ... "irraitonal exhuberance".
Time will tell ... ONVO might go to 20$ in the short run... however ... on the 2 years Timeframe .. I bet it will test the 3's !
You are funny! ... private vs. Market? ... well .. if you read ... I applied a 25% discount! ... more than generous!
Of course... ONVO's CEO ... made way more promises! ... that's true! ...
Please, tell me why Pfizer is working with Insphero Microtissues (liver) instead than with the tissues produced by Organovo? ...
Roche is also working with Insphero!
I am really sorry .. that so many investors will get burn badly by this Company!
ah ah ah ! .. lol ... I don't think I'm the one that needs to get REAL! AH AH AH
anyway .. can you comment on the huge difference in valuation? ... or you just here for entertainment?
sorry .. MITCHY .. did I miss something? ... did LLEN communicata a date for the suspension of the trading halt ... and resumption of trading on the NASDAQ? .. mhh ... please .. share the link
My Motive? to increase market efficient! ...
Look at this Inpshero Presentation ... and you will notice why Insphero is BETTER more MATURE than ONVO:
InSphero AG –
Making Innovation Partnerships
Work Between Small and Large
Jan Lichtenberg, CEO and Co-Founder InSphero
3D InSight™ Cell Line Maintenance Media
Shelf life: 3 months
3D InSight™ Liver Maintenance Media
Shelf life: 2 months for human, 1 month for rat
If you consider that
- Insphero is already generating revenue / selling the tissues,
- Insphero counts all of the top ten global pharmaceutical and cosmetics companies as customers,
- Insphero’s tissues and technology is already used/studied by Pfizer and Roche
- the in-shelf life of Insphero 3D liver Micro-Tissues is 90 days vs. only 40 days of ONVO liver tissues
- InshperO has almost same number of workers of ONVO (25)
…. … you will have an hard time … in justifying ONVO’s valuation!
ONVO and Insphero are two very similar companies (Insphero is a little bit ahead of ONVO from a technological and executional point of view). They do however have two complete different Valuation!
Private Equity experts valued Insphero at USD 21m in June 2013, while Irrational Retail investors value ONVO at a whopping USD 668m EV! (a 3’176 % premium)
Well, sorry if in my valuation I do trust more to Private Equity Experts!
Does the Fact that ONVO is a public traded Company and does therefore offer its shareholders a degree of liquidity on their investments … justify a 3’176% Premium!
1. Private Equity investors entered into Insphero at a bargain-price (and estimating the FV of Insphero at USD 40m)
2. A 25% Market Liquidity Premium
… if follows that ONVO fair valued Market Capitalization should be approximately: USD116m
Corresponding to a Price per Share of USD 1.5985
ORGANVO, at current Prices, is 484% Overvalued!
-83% downside risk !
ONVO Fair Value Price is USD 1.5986 ... implying a -83% downside risk from Current Levels (USD 9.34)
To know where to find the data, just search for “InSphero AG, in Zürich, CH-020.3.033.659-7, Aktiengesellschaft (SHAB Nr. 6 vom 10.01.2012, Publ. 6496548).” Alternatively, you could go to the SHAB swiss webpage.
1. Inshpero AG received secured its first (Series A Financing) in August 2010!
Zürcher KantonalBank and Redalpine Venture Partners subscribed the CHF 1’800’000 financing (approx. USD 2’000’000).
02/Aug/2010, the Company's Capital (nominal) was increased by CHF 22'058 (from CHF 100'000).
22'058 new shares were issued at a nominal value of exactly CHF 1 / share.
The Company issued 22'058 shares in exchange of USD 2,000,000 in capital. (Price per share: approx. USD 90.00 per share)
2. June 18, 2013 - InSphero secures CHF 2’000’000 Million Financing
“…Successfully closed a financing round of CHF 2’000’000 last month (approx. 2’200’000 USD). This series B financing was …“
05/July/2013, the capital was increased from CHF 208'694.00 to CHF 233'164.00, adding 24,470 shares.
The company issued 24,470 shares and get in return of USD 2,200,000 in capital. (Price per share = approx. USD 90.00 per share)
Aug2010, Implied Company Valuation: USD 20,984,760
Assuming Insphero AG has no debt and no Cash, the resulting EV is USD 21m
ONVO Enterprise Value is 668m USD! … 31x greater than Insphero EV!
only promises! ...expect a failure to deliver!
yeah .. and in the meantime ... unfortunately ... Insphero product is better ... and ... Pfizer has started to work with that ..
The details reported in the 8-K dated February 8, 2012 ... about the Pfizer Collaborative Agreement:
In December, 2010 we entered into a Collaborative Research Agreement with Pfizer, Inc. (“Pfizer”) to develop tissue based drug discovery assays in two therapeutic areas utilizing our NovoGen MMX Bioprinter™ technology. This Agreement has a term that expires the later of (i) December 8, 2011 or (ii) the completion by us of the research plan described in the agreement. To date, Pfizer has paid us all amounts due under the agreement and we anticipate completing the research plan by March 2012. We anticipate that the agreement will be extended past March 2012; although we can give no assurance that it will in fact be so extended."
10k Filed: March 15, 2013 (period: December 31, 2012): "We disclosed in 2012 that we had delivered constructs to Pfizer for internal evaluation as partial completion of the collaboration agreement; we additionally have delivered a study report to complete the scope of work in the original collaboration agreement. Constructs delivered by Organovo are currently being evaluated in the collaborator’s laboratory, and we anticipate that an additional agreement or agreements will be arrived at to utilize Organovo tissues in its future research efforts, although we can give no assurance that future agreements will be arrived at."
in sec filings, the name Pfizer, appears again ... in slide 8 of the presentation ONVO held in April 2013: 8K Filed: April 04, 2013 (period: April 04, 2013)
Please note that ... ONVO writes : "we have partnered with" ... does it mean the the partnership is still in place?
after May, 24, 2012 (the 10-KT filed) ... I can not find the Pfizer Name in any of the Subsequent filings.
... what in over 19 months we did not have any update on the Pfizer collaboration agreement?
In the 8-K dated February 8, 2012, ONVO writes:
"anticipate completing the research plan by March 2012. We anticipate that the agreement will be extended past March 2012"
So far, I can not find any Update on the Pfizer-ONVO Collaborative Agreement!
What I was able to find, however, is that on October 20, 2012 ... Pfizer and Cyprotex ... announced a "collaborative research agreement" ..."Cyprotex has signed an 18-month collaboration with US drug giant Pfizer focused on predictive in-vitro toxicology in preclinical development."
It is interesting to note that: "Cyprotex and InSphero are jointly offering a new hepatotoxicity screening service using InSphero's 3D InSight™ liver mode (september 20, 2012)l"
As you probably all know, Insphero liver model is superior from a shelf-live perspective: 90 days, vs. the 40 days of the ONVO Model
Do we have to assume that ... the collaboration between ONVO and Pfizer is not in place anymore? ... Since Cyprotex and InSphero are offering basically the same products offered by ONVO ... ... I just have to assume that, after the Collaborative agreement with ONVO expired ... PFIZER just switched to a competitor!
I mean, the Pfizer-ONVO collaborative agreement was expected to be extended in March 2012....
.... then in November/October 2012 ... Pfizer entered into a collaborative research agreement with a direct Competitor of ONVO. Do I have to assume ... Pfizer did not like the ONVO's results ... and went shopping for another supplier / Partner?
Well ... if my logic is correct .... losing a client like Pfizer ... is ... not the best way for ONVO ... to start generating revenue
but hey ... I am always wrong! right?