Predictive Oncology Reports That Its Wholly Owned Subsidiary, TumorGenesis, Has Sold Media to Two Top Research Medical Center...
January 14 2021 - 8:30AM
Predictive Oncology (NASDAQ: POAI), a
knowledge-driven company focused on applying artificial
intelligence (“AI”) to personalized medicine and drug discovery,
announced today that its wholly owned subsidiary TumorGenesis, Inc.
in the last quarter has sold media to two top research medical
centers, one in New York City and the other in Boston,
Massachusetts. Both the New York City and the Boston orders are
repeat orders and are focused on culturing ovarian cancer cells
with specific research goals. One additional order came from a
private company doing research on ovarian cancer.
“We believe that this is the future of ovarian
cancer research, which creates new possibilities to coming up with
new treatments for this chronic and deadly disease. In order for us
to find better drugs, we have to be able to grow the right patient
cells in the right media. Building the ‘living library’ of cancer
cells for drug screening and discovery is the right first step.
Then we can focus on how to kill them,” said Dr. Carl Schwartz, CEO
and President of Predictive Oncology, Inc. (NASDAQ: POAI).
“The concept that we can replicate the ovarian cancer cells
outside of the patient’s body and in a laboratory well plate or
culture flask is remarkable," said Richard Gabriel, board member
and President of the TumorGenesis company. “The 15 ovarian cancer
cell lines and the media to grow them are examples of what is now
being called a ‘living library’ of ovarian cancer tissues. These
tissues, in the right TumorGenesis media, replicate not only the
DNA/RNA and proteomic signatures but also replicate the
histological structures that can be seen in staining, outside the
patient’s body,” said Mr. Gabriel.
The 3D cancer cell culture media market is expected to grow at
CAGR of approximately 11.3%, to $3.2 billion worldwide in sales in
2027. The reason for the tremendous, expected growth in this market
is because much of the older technologies do not reproduce the
patient’s tumor cell populations, and immortalized cells (cells
that live forever and are altered from the original tumor) are not
good models to use in drug discovery and development.
About Predictive Oncology
Inc.
Predictive Oncology (NASDAQ: POAI) operates
through three segments (Skyline, Helomics and Soluble Biotech),
which contain four subsidiaries: Helomics, TumorGenesis, Skyline
Medical and Soluble Biotech.
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.
TumorGenesis Inc. specializes in media that help cancer cells grow
and retain their DNA/RNA and proteomic signatures, providing
researchers with a tool to expand and study cancer cell types found
in tumors of the blood and organ systems of all mammals, including
humans. Skyline Medical 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. Soluble Biotech is a provider of soluble
and stable formulations for proteins including vaccines,
antibodies, large and small proteins, and protein complexes.
Forward-Looking Statements
Certain matters discussed in this release contain
forward-looking statements. These forward-looking statements
reflect our current expectations and projections about future
events and are subject to substantial risks, uncertainties and
assumptions about our operations and the investments we make. All
statements, other than statements of historical facts, included in
this press release regarding our strategy, future operations,
future financial position, future revenue and financial
performance, projected costs, prospects, plans and objectives of
management are forward-looking statements. The words “anticipate,”
“believe,” “estimate,” “expect,” “intend,” “may,” “plan,” “would,”
“target” and similar expressions are intended to identify forward-
looking statements, although not all forward-looking statements
contain these identifying words. Our actual future performance may
materially differ from that contemplated by the forward-looking
statements because of a variety of factors including, among other
things, the possibility that market acceptance of our products
would be being slower than expected, the possibility of facing
challenges in management of growth or other factors discussed under
the heading “Risk Factors” in our filings with the SEC. Except as
expressly required by law, the Company disclaims any intent or
obligation to update these forward-looking statements.
Investor Relations Contact:
Landon Capital Keith Pinder (404)
995-6671kpinder@landoncapital.net
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