Renovaro acquires Predictive Oncology to enhance cancer diagnostics and drug discovery through advanced AI technologies and extensive biobank resources.
Quiver AI Summary
Renovaro Inc. has announced a binding letter of intent to acquire Predictive Oncology in an all-stock transaction, enhancing its cancer diagnostics and therapeutics capabilities. This acquisition grants access to a biobank of over 150,000 tumor specimens and extensive data on drug responses, facilitating the integration of Predictive Oncology's AI-driven platforms with Renovaro's liquid biopsy methods. The combined resources aim to improve cancer therapy customization, with predictions on drug response achieving 92% accuracy. The partnership is set to streamline the development of diagnostic tools and promote innovative cancer treatment solutions, ultimately aspiring to create a global point-of-care system that enhances patient outcomes and reduces costs.
Potential Positives
- Acquisition of Predictive Oncology provides Renovaro access to a significant biobank of over 150,000 tumor specimens and extensive drug response data, enhancing research capabilities and clinical trial optimization.
- The integration of AI-driven platforms from both companies is expected to accelerate drug discovery and improve cancer diagnostics, promising advancements in personalized therapy for patients.
- Collaboration aims to introduce innovative diagnostic and therapeutic solutions, including a novel chemosensitivity assay, thereby expanding Renovaro's market offerings in Europe.
- The deal positions Renovaro as a leader in the cancer diagnostics space with a comprehensive, end-to-end solution from diagnosis to treatment, potentially improving patient outcomes.
Potential Negatives
- Acquisition of Predictive Oncology may raise concerns among investors due to the ongoing evaluation of strategic alternatives by Predictive, indicating potential instability or issues within Predictive that could affect the integration and overall success of the acquisition.
- The mention of multiple interested parties in discussions suggests a competitive landscape for Predictive Oncology, which could imply that Renovaro faced significant competition in the acquisition process, thereby raising questions about the valuation and strategic fit.
- The press release heavily emphasizes forward-looking statements, which may indicate uncertainty regarding the company's future performance and the successful realization of its ambitious integration plans and anticipated synergies.
FAQ
What is the focus of Renovaro's acquisition of Predictive Oncology?
Renovaro aims to enhance cancer diagnostics and drug discovery through Predictive Oncology's extensive biobank and AI-driven platform.
How many tumor specimens does Predictive Oncology's biobank contain?
The biobank includes more than 150,000 tumor specimens, providing valuable resources for research and clinical applications.
What technology will be utilized in the collaboration?
The collaboration will combine Predictive's AI-driven drug discovery platform with Renovaro's AI Cube multi-omic artificial intelligence technology.
When is the test launch planned for Renovaro's new platform?
The planned test launch is set for 2025, assisting physicians in individualizing cancer therapy for better outcomes.
What benefits does the acquisition provide to cancer patients?
The acquisition will facilitate early diagnosis, personalized treatment options, and improved monitoring of cancer recurrence for patients.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
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Full Release
Acquisition provides access to critical resources encompassing a biobank of more than 150,000 tumor specimens, 200,000 pathology slides and decades of longitudinal drug response data
Data provides a critical pathway to progress AI using the high-speed computing power provided through collaboration with Nebul
Combines Predictive Oncology’s AI-driven multi-omic drug discovery platform with Renovaro’s AI Cube multi-omic artificial intelligence to advance both cancer diagnostics and early drug discovery
Planned test launch to assist physicians in individualizing cancer therapy to improve treatment outcomes
LOS ANGELES, Jan. 06, 2025 (GLOBE NEWSWIRE) --
Renovaro Inc. (NASDAQ: RENB),
a pioneer in cancer diagnostics and therapeutics powered by artificial intelligence, today announced it has entered into a binding LOI to acquire Predictive Oncology (NASDAQ: POAI) in an all-stock transaction.
David Weinstein, Chief Executive Officer of Renovaro, commented, “Renovaro is on a quest to offer cancer patients early diagnostic options, treatment protocols, and recurrence monitoring. Predictive Oncology will enhance our capabilities by assisting oncologists with patient specific diagnostic and therapeutic clinical support data. Predictive Oncology’s proprietary AI/ML platform has been proven to predict tumor-drug response with 92% accuracy which, I believe, will allow us to launch as a decision support platform for medical oncologists in 2025. As importantly, there are strong synergies with Predictive’s small molecule solid tumor drug-tumor response modeling capabilities and Renovaro’s liquid biopsy approach to early cancer detection and monitoring.”
Raymond Vennare, Chief Executive Officer of Predictive Oncology, added, “We recognize that by integrating Predictive Oncology’s AI-driven drug discovery platform and vast biobank of more than 150,000 patient tumor samples, 200,000 pathology slides and decades of longitudinal drug response data with Renovaro’s multi-disciplinary artificial intelligence, multi-omics and multi-modal data expertise, we are opening to door to diagnostic, therapeutic and drug discovery possibilities that we otherwise would never have considered.”
Short-Term Synergies
By leveraging Predictive Oncology’s extensive biobank of 150,000 tumor samples, Renovaro gains an invaluable resource to accelerate biomarker discovery, clinical trial optimization and clinical decision support tools across multiple cancer types.
The combined organization will have a state-of-the-art CLIA, NYSDOH, and CA-certified laboratory staffed by a highly experienced team.
Infrastructure streamlines Renovaro’s development, validation, and rollout of new diagnostic tests in Europe, improving speed to market and expanding global reach.
Introduces novel
in vivo
chemosensitivity and resistance assay for predicting patient response to cancer chemotherapy to the European markets.
Enables the company to collaborate across multi-omic platforms for drug discovery.
Long-Term Vision
Renovaro’s partnership with Predictive Oncology creates a powerful foundation for delivering a global point-of-care solution for cancer.
By integrating Predictive Oncology’s AI-driven small molecule solid tumor expertise with Renovaro’s AI-powered liquid biopsy and cancer vaccine programs, we envision an opportunity to provide patients with a comprehensive, end-to-end solution from diagnostics and early detection to personalized therapies, in silico modeling and biomarker discovery.
First-in-class, full-stack clinical service has the potential to advance cancer therapy at every stage of the patient’s journey, improving outcomes and reducing costs.
Predictive Oncology announced on November 13, 2024, that the company’s Board of Directors, working with a strategic advisor, had initiated a process to evaluate a broad range of strategic alternatives intended to maximize shareholder value and issued an update on December 3, 2024, stating the Company was engaged in productive discussions with multiple interested parties and looked forward to the timely completion of this process.
Transaction Details
Renovaro will acquire 100% of Predictive Oncology common shares through the issuance of Preferred stock.
About Predictive Oncology
Predictive Oncology is on the cutting edge of the rapidly growing use of artificial intelligence and machine learning to expedite early biomarker and drug discovery and enable drug development for the benefit of cancer patients worldwide. The company’s proprietary AI/ML platform has been scientifically validated to predict with 92% accuracy if a tumor sample will respond to a certain drug compound, allowing for a more informed selection of drug/tumor type combinations for subsequent in-vitro testing. Together with the company’s vast biobank of more than 150,000 assay-capable heterogenous human tumor samples, Predictive Oncology offers its academic and industry partners one of the industry’s broadest AI-based drug discovery solutions, further complimented by its wholly owned CLIA lab and GMP facilities. Predictive Oncology is headquartered in Pittsburgh, PA.
https://predictive-oncology.com/
About Renovaro
Renovaro
https://renovarogroup.com/
aims to accelerate precision and personalized medicine for longevity powered by mutually reinforcing AI and biotechnology platforms for early diagnosis, better-targeted treatments, and drug discovery. Renovaro Inc. includes RenovaroBio with its advanced cell-gene immunotherapy company and RenovaroCube.
Forward-Looking Statements
Statements in this press release that are not strictly historical in nature are forward-looking statements. These statements are only predictions based on current information and expectations and involve a number of risks and uncertainties, including but not limited to the success or efficacy of our pipeline, platform and fundraising. All statements other than historical facts are forward-looking statements, which can be identified by the use of forward-looking terminology such as “believes,” “plans,” “expects,” “aims,” “intends,” “potential,” or similar expressions. Actual events or results may differ materially from those projected in any of such statements due to various uncertainties, including as set forth in Renovaro’s most recent Annual Report on Form 10-K filed with the SEC. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, and Renovaro Inc. undertakes no obligation to revise or update this press release to reflect events or circumstances after the date hereof.
Investor Relations
Chris Tyson
Executive Vice President
MZ Group - MZ North America
949-491-8235
RENB@mzgroup.us
www.mzgroup.us
For media inquiries, please contact:
karen@renovarocube.com
and
STarsh@Renovarogroup.com
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
