Predictive Oncology (NASDAQ: POAI), a knowledge-driven
company focused on applying artificial intelligence (“AI”) to personalized
medicine and drug discovery, on Tuesday announced the completion of the
acquisitions of two wholly owned subsidiaries of InventaBioTech, Inc., Soluble
Therapeutics, Inc. and BioDtech, Inc. Included in the acquisition were certain
intellectual property relating to contract research organization (“CRO”)
services and technology, certain equipment useful in such services and
technology and all other assets of Soluble Therapeutics and BioDtech. In consideration,
POAI issued 125,000 shares of common stock and waived all remaining amounts due
and payable to the company under a secured promissory note of InventaBioTech in
the principal amount of $1,070,000. “These two acquisitions meaningfully expand
revenue and monetization prospects for our precision medicine business. First,
the Soluble Therapeutics assets increase the company’s capabilities to provide
services for the pharmaceutical and biotech industries and predict and provide
the best formulation with the highest concentration and the most stable
solution for protein and peptide-based drugs. Second, the company’s purchase of
BioDtech’s assets provides it with ownership over BioDtech’s successfully
developed test used to ‘unmask’ endotoxins, which allows a monitoring physician
to perhaps change the strategy of treatment or treat the patient with
antibiotics. These acquisitions will allow Predictive Oncology to further
maximize opportunities within the company’s precision medicine business,”
Predictive Oncology CEO and Director Dr. Carl Schwartz stated in the news
release.
To view the full press release, visit http://ibn.fm/iQCUr
About Predictive Oncology Inc.
Predictive Oncology operates through three segments
(domestic, international and other) that 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 road
map 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 with 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, visit the company’s
website at 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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