Organovo closes sale of FXR program to Eli Lilly

Organovo (ONVO) announced the close of the sale of its FXR program, including lead asset FXR314, to Eli Lilly and Company (LLY). The transaction was completed on March 25. With the closing, Organovo receives an upfront payment, with future milestones to be paid as FXR314 hits key regulatory and commercial milestones. Lilly is acquiring all commercial and intellectual property rights to Organovo’s FXR program for worldwide development and will be responsible for all future clinical development.