Predictive Oncology (NASDAQ: POAI), a knowledge-driven
company focused on applying artificial intelligence (“AI”) to personalized
medicine and drug discovery, this morning announced its entrance into a
securities purchase agreement with certain accredited investors to raise $3.5
million through the issuance of up to 1,650,165 shares of common stock or
common stock equivalents and accompanying warrants to purchase a total of up to
3,300,330 shares of common stock at a price of $2.121 each. The warrants will
be exercisable immediately at an exercise price of $1.88 each, with one-half of
the warrants to expire two years after the date of issuance, and the remaining
half to expire five and one-half years after the date of issuance. The closing
of the private placement is subject to the satisfaction of customary closing
conditions in accordance with the securities purchase agreement. Predictive
Oncology plans to use the net proceeds for general corporate purposes. Per an
agreement with the investors, Predictive Oncology is required to file an
initial registration statement with the Securities and Exchange Commission
(“SEC”) covering the resale of the shares to be issued to the investors no
later than thirty days after the closing and to have the registration statement
declared effective no later than 90 days after today in the event of a “full
review” by the SEC.
To view the full press release, visit http://ibn.fm/hWsRT
About Predictive Oncology Inc.
Predictive Oncology (NASDAQ: POAI) operates through three
segments (Domestic, International and other), which contain four subsidiaries;
Helomics, TumorGenesis, Skyline Medical and Skyline Europe. Helomics applies
artificial intelligence to its rich data gathered from patient tumors to both
personalize cancer therapies for patients and drive the development of new
targeted therapies in collaborations with pharmaceutical companies. Helomics’
CLIA-certified lab provides clinical testing that assists oncologists in
individualizing patient treatment decisions, by providing an evidence-based
roadmap for therapy. In addition to its proprietary precision oncology
platform, Helomics offers boutique CRO services that leverage its TruTumor(TM),
patient-derived tumor models coupled to a wide range of multi-omics assays
(genomics, proteomics and biochemical), and an AI-powered proprietary
bioinformatics platform to provide a tailored solution to its clients’ specific
needs. Predictive Oncology’s TumorGenesis subsidiary is developing a new rapid
approach to growing tumors in the laboratory, which essentially “fools” cancer
cells into thinking they are still growing inside a patient. Its proprietary
Oncology Discovery Technology Platform kits will assist researchers and clinicians
to identify which cancer cells bind to specific biomarkers. Once the biomarkers
are identified they can be used in TumorGenesis’ Oncology Capture Technology
Platforms which isolate and help categorize an individual patient’s
heterogeneous tumor samples to enable the development of patient specific
treatment options. Helomics and TumorGenesis are focused on ovarian cancer.
Predictive Oncology’s Skyline Medical division markets its patented and FDA
cleared STREAMWAY System, which automates the collection, measurement and
disposal of waste fluid, including blood, irrigation fluid and others, within a
medical facility, through both domestic and international divisions. The
company has achieved sales in five of the seven continents through both direct
sales and distributor partners. For more information, please visit www.Predictive-Oncology.com.
NOTE TO INVESTORS: The latest news and updates
relating to POAI are available in the company’s newsroom at http://ibn.fm/POAI
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