Predictive Oncology (NASDAQ: POAI), a knowledge-driven company focused on applying artificial intelligence (“AI”) to personalized medicine and drug discovery, today announced it has completed its acquisition of Quantitative Medicine LLC (“QM”), a biomedical analytics and computational biology company, in an all-stock transaction valued at approximately $1.8 million. Cofounded by Drs. Robert Murphy and Joshua Kangas, both of Carnegie Mellon University’s Computational Biology Department, QM developed its novel, computational drug-discovery platform CoRETM, an innovative machine learning platform that predicts the main effects of drugs on target molecules that mediate disease, which is expected to dramatically reduce the time, cost and financial risk of discovering new therapeutic drugs. “This acquisition will enable us to further leverage our unique database of drug-response and genomics profiles that our subsidiary, Helomics, has gathered from more than 150,000 cancer cases over more than 10 years of clinical testing,” Dr. Carl Schwartz, Predictive Oncology’s CEO, stated in the news release. “Integrating QM’s proven machine learning platform, CoRE, with our proprietary database of drug response and genomics profiles is expected to revolutionize the role of our AI-driven predictive models in the discovery and development of new anti-cancers. We will be able to more quickly understand how specific types of tumors react to cancer drug therapies. This will allow our customers to accelerate the development and commercialization of personalized patient treatments that dramatically improve patient outcomes. We intend to offer this new capability to our pharmaceutical company customers in revenue generating projects this year.”
To view the full press release, visit http://ibn.fm/TUszu
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 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.
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