VivoSim Labs, INC.
VivoSim Labs, Inc. is a U.S.-based pharmaceutical and biotechnology services company focused on 3D human tissue models of liver and intestine. Through its subsidiaries, it combines toxicology testing, drug-response research, and related intellectual property licensing around non-animal new approach methodologies (NAMs).
Fiscal year 2026 · change from previous year
Development 2021–2026
Business
Share of revenueTesting of drugs and drug candidates in liver and intestinal human tissue models.
Custom research services using complex human tissue models to study drug effects and biology.
Royalties and licensing income from intellectual property and related agreements.
Cell-based products sold through the former Mosaic Cell Sciences business.
Products
Reported · share of revenue- Royalty82.6 %
- Products17.4 %
Source: 10-K FY2025, revenue the company reports per product line (SEC XBRL). Shares are of the lines shown and add up to 100 %.
Customers
Customers are primarily pharmaceutical and biotechnology companies that need human-relevant data to evaluate drug safety, toxicity, and mechanism of action. The company also serves research collaborators and other life-science customers that use cell-based products or license its intellectual property.
Buy toxicology and mechanism studies to de-risk drug candidates before clinical development.
Use 3D tissue models and custom studies to support discovery and translational research.
Partner on exploratory studies, validation work, and disease-model applications.
Purchase human cell-based products for R&D and laboratory use.
Generate royalty revenue through use of licensed intellectual property.
Strategy
The company is repositioning around 3D human tissue models, NAM-based toxicology services, and related intellectual property rather than internal clinical drug development. Its strategy depends on building partner relationships, expanding scientific use cases, and monetizing existing tissue-model assets and IP.
Human tissue models can provide more relevant drug-safety insights than traditional approaches.
External relationships are needed to commercialize services and broaden scientific applications.
Licensing and royalties can support the business while the services platform scales.
Geography
VivoSim Labs is headquartered in San Diego, California and operates as a U.S.-based company. The business is organized around domestic scientific, operational, and corporate activities, while customer and licensing relationships may extend beyond the United States depending on partner location.
Risks
The business depends on unproven commercial adoption of 3D tissue models, continued access to human cells, and the ability to win scientific partners in a competitive market. It also faces financing and execution risk because the services platform and research programs require ongoing capital, specialized personnel, and regulatory acceptance of NAM methods.
- Unproven adoption of 3D tissue modelsImpact: HighLikelihood: High
Commercial demand may develop slowly if customers do not adopt NAM methods at scale.
Exposure: Services platform and internal research programs
- Financing and liquidity pressureImpact: HighLikelihood: High
The company requires additional capital to fund operations and development activities.
Exposure: Corporate overhead and ongoing R&D
- Human cell supply constraintsImpact: HighLikelihood: Medium
The company relies on third-party suppliers for qualified human cells used in tissue models.
Exposure: Liver and intestine tissue activities
- Partnering and collaboration riskImpact: MediumLikelihood: High
The business model depends on strategic relationships to commercialize services and IP.
Exposure - Talent retention and recruitmentImpact: MediumLikelihood: Medium
Scientific and operational execution depends on specialized employees and contractors.
Exposure
Accounting
Judgemental itemsThe company has royalties, services, and product sales with different recognition patterns.
Impact: Affects timing and volatility of reported revenue
Royalty income is recognized when underlying third-party sales occur and may involve variable consideration.
Impact: Can create lumpy revenue recognition
Equity awards require assumptions about forfeitures and fair value.
Impact: Affects operating expense and reported losses
The FXR program sale includes potential future milestone payments.
Impact: Could affect future cash receipts and accounting judgments
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Last updated: 24/09/2026