Predictive Oncology Subsidiary Helomics Collaborates with UPMC to Establish a Data and Artificial Intelligence-Driven Approac...
July 18 2019 - 8:00AM
Predictive Oncology (Nasdaq: POAI) subsidiary Helomics, an
artificial intelligence (AI) and data-driven functional precision
medicine company with the mission of improving the standard of care
for cancer patients through innovative data-driven products and
services, today announced a joint collaborative agreement with UPMC
to study the use of artificial intelligence to improve clinical
decision making for ovarian cancer patients. Helomics is a
subsidiary of Predictive Oncology Inc., a company focused on
applying artificial intelligence to personalized medicine and drug
discovery.
The collaboration will focus on using Helomics’ artificial
intelligence (AI) platform (D-CHIP™) to analyze the genomic and
drug response profiles of women with ovarian cancer to determine
predictive value in terms of response/non-response to therapy.
The parties believe that the collaboration will demonstrate the
value of using AI-powered, evidence-based decision making, in the
context of specific treatments on specific genotypes, to predict
clinical outcomes for this group of patients.
“Helomics has pioneered the testing of drugs on patients’ own
tumors to help oncologists individualize treatment options -- what
we call functional precision medicine. We believe that by linking
both the drug response profile and the genomic profile of the
patient’s tumor using a machine learning approach, we can provide
‘multi-omic’ predictive models that will have greater
decision-making impact than just genomics alone, which in turn will
positively benefit oncologists and their patients,” commented Dr.
Mark Collins, chief innovation officer at Helomics. “Working
alongside both UPMC Enterprises and UPMC Magee-Womens Hospital
provides us with the unique opportunity to potentially make a
direct impact on how medicine is practiced at one of the leading
women’s medical facilities in the country. We look forward to
discussing our findings with both the medical community and our
stockholders as they develop.”
More than 22,000 women are diagnosed with ovarian cancer in the
U.S. each year, yet this patient group often has few
predictive/prognostic options for selecting therapies. This results
in a high recurrence rate and poorer overall survival.
“We believe that this effort will enhance our understanding of
the molecular profiles of women with ovarian cancer by using the
power of artificial intelligence to create predictive models of
therapeutic success. We are excited about the potential for
AI-powered, evidence-based decision making to increase our ability
to bring about successful outcomes,” said Dr. Robert Edwards,
professor and chair of the Department of Obstetrics, Gynecology and
Reproductive Sciences in the University of Pittsburgh School of
Medicine and co-leader of the Breast and Ovarian Cancer Program at
the UPMC Hillman Cancer Center. Work performed under the
collaboration will be funded in part by UPMC Enterprises. UPMC
Enterprises, the commercialization and innovation arm of UPMC, was
established to generate and enable exceptional health care
innovations focusing on two main areas: translational science and
digital health solutions.
About Predictive Oncology Inc.Predictive
Oncology (Nasdaq: POAI) operates through its three wholly owned
subsidiaries, Helomics, TumorGenesis and Skyline Medical. 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™, patient-derived tumor
models coupled to a wide range of multi-omics assays (genomics,
proteomics and biochemical), and an AI-powered proprietary
bioinformatics platform (D-CHIP) 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 subsidiary 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.
About UPMCA $20 billion health care provider
and insurer, Pittsburgh-based UPMC is inventing new models of
patient-centered, cost-effective, accountable care. The largest
nongovernmental employer in Pennsylvania, UPMC integrates 87,000
employees, 40 hospitals, 700 doctors’ offices and outpatient sites,
and a 3.5 million-member Insurance Services Division, the largest
medical insurer in western Pennsylvania. In the most recent fiscal
year, UPMC contributed $1.2 billion in benefits to its communities,
including more care to the region’s most vulnerable citizens than
any other health care institution, and paid $587 million in
federal, state and local taxes. Working in close collaboration with
the University of Pittsburgh Schools of the Health Sciences, UPMC
shares its clinical, managerial and technological skills worldwide
through its innovation and commercialization arm, UPMC Enterprises,
and through UPMC International. U.S. News & World Report
consistently ranks UPMC Presbyterian Shadyside on its annual Honor
Roll of America’s Best Hospitals. For more information, go to
UPMC.com.
Forward-looking Statements Certain of the
matters discussed in the press release contain forward-looking
statements that involve material risks to and uncertainties in the
Company’s business that may cause actual results to differ
materially from those anticipated by the statements made herein.
Such risks and uncertainties include (i) risks related to the
recent merger with Helomics, including the fact that the combined
company will not be able to continue operating without additional
financing; possible failure to realize anticipated benefits of the
merger; costs associated with the merger may be higher than
expected; the merger may result in disruption of the Company’s and
Helomics’ existing businesses, distraction of management and
diversion of resources; and the market price of the Company’s
common stock may decline as a result of the merger; (ii) risks
related to our partnerships with other companies, including the
need to negotiate the definitive agreements; possible failure to
realize anticipated benefits of these partnerships; and costs of
providing funding to our partner companies, which may never be
repaid or provide anticipated returns; and (iii) other risks and
uncertainties relating to the Company that include, among other
things, current negative operating cash flows and a need for
additional funding to finance our operating plan; the terms of any
further financing, which may be highly dilutive and may include
onerous terms; unexpected costs and operating deficits, and lower
than expected sales and revenues; sales cycles that can be longer
than expected, resulting in delays in projected sales or failure to
make such sales; uncertain willingness and ability of customers to
adopt new technologies and other factors that may affect further
market acceptance, if our product is not accepted by our potential
customers, it is unlikely that we will ever become profitable;
adverse economic conditions; adverse results of any legal
proceedings; the volatility of our operating results and financial
condition; inability to attract or retain qualified senior
management personnel, including sales and marketing personnel; our
ability to establish and maintain the proprietary nature of our
technology through the patent process, as well as our ability to
possibly license from others patents and patent applications
necessary to develop products; Predictive Oncology’s ability to
implement its long range business plan for various applications of
its technology; Predictive Oncology’s ability to enter into
agreements with any necessary marketing and/or distribution
partners and with any strategic or joint venture partners; the
impact of competition, the obtaining and maintenance of any
necessary regulatory clearances applicable to applications of
Predictive Oncology’s technology; and management of growth and
other risks and uncertainties that may be detailed from time to
time in the Company’s reports filed with the SEC, which are
available for review at www.sec.gov. This is not a solicitation to
buy or sell securities and does not purport to be an analysis of
Predictive Oncology’s financial position. See Predictive Oncology’s
most recent Annual Report on Form 10-K, and subsequent reports and
other filings at www.sec.gov.
Contacts: Investor Relations CORE IR Bret
Shapiro (212) 896-1203 brets@coreir.com
Media Jules Abraham CORE IR julesa@coreir.com 917-885-7378
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