-=Organovo (ONVO) to merge with Tarveda Therapeutics

Organovo Holdings (NASDAQ:ONVO) has entered into a merger agreement with Tarveda Therapeutics, a privately-held, clinical stage biopharmaceutical company.

Under the terms of the agreement, Tarveda would merge with a wholly-owned subsidiary of Organovo in an all-stock transaction. The merged company would operate under the name Tarveda Therapeutics, and trade on Nasdaq under the ticker symbol “TVDA.”

It is anticipated that Tarveda and Organovo stockholders will own ~75% and ~25% of the combined company, respectively. The merger is anticipated to close in Q1 2020.

Following the closing of the transaction, Tarveda intends to advance its two clinical stage oncology programs, PEN-866 and PEN-221, and further develop novel conjugates from its proprietary miniature drug conjugate platform.