Predictive Oncology Subsidiary, Helomics, Signs Collaborative Research Agreement with ChemImage to Expand Personalized Medici...
June 26 2019 - 8:00AM
Predictive Oncology (Nasdaq: POAI) (“Predictive Oncology” or “the
Company”), a company focused on applying artificial intelligence to
personalized medicine and drug discovery, announced today it has
signed a collaborative research agreement with Pittsburgh,
Pa.-based molecular imaging company, ChemImage, to establish the
feasibility of coupling genomics to Raman spectroscopy to better
determine disease progression in prostate cancer.
“Helomics’ ability to quickly generate data through
our ‘multi-omic’ approach, coupled to our artificial intelligence
(AI) technology, is a natural fit with companies like ChemImage,
which is seeking a better understanding of disease progression
through fusing together of ChemImage’s core Raman data with genomic
data generated by Helomics,” commented Gerald Vardzel, president of
Helomics.
ChemImage will share a set of human prostate tissue
(biopsy and prostatectomy) samples with Helomics, which Helomics
will sequence in order to better understand whether the combination
of genomics (mutations and gene expression) and Raman imaging will
provide insights to prostate cancer progression. Helomics
also plans to integrate the data from these prostate cancer
samples, together with its internal database of over 150,000 tumor
cases into its D-CHIP predictive oncology models in order to build
a predictive model of prostate cancer drug response.
“We look forward to combining capabilities with
Helomics in this research collaboration, anticipating significant
breakthroughs in our understanding of prostate cancer progression,”
added Patrick Treado Ph.D., founder and chief technology officer of
ChemImage. “In addition, working closely with another
Pittsburgh-based company strengthens the business community and
sense of collaboration that we believe demonstrates the region is
at the cutting edge of medical research.”
“We believe that alliances of this kind are an
excellent opportunity to demonstrate the power of the multi-omic
approach coupled to AI with the goal of building predictive models
for identifying and treating patients at higher risk,” commented
Mark Collins Ph.D., chief technology officer of Helomics.
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 ChemImage CorporationChemImage
Corporation is committed to making the world healthier and safer
through dramatic advancements in chemical imaging
technologies. The company's proprietary, state-of-the-art
chemical imaging sensors, algorithms and analysis software enable
defense organizations, homeland security agencies, forensic science
laboratories, pharmaceutical manufacturers, automotive companies,
life sciences, and medical device companies to solve the world’s
most challenging health and safety issues. Our Life Sciences
division develops molecular chemical imaging devices and data
fusion tools for cancer detection, anatomic structure imaging, and
cardiovascular health assessment without the use of reagents. This
technology provides faster, more accurate diagnostics and safer,
more effective procedures. With performance leading chemical
imaging technology, ChemImage strives to provide people all over
the world with an Awareness of Things™ (AoT™), giving a new level
of situational awareness to people in their everyday lives.
For more information, please visit www.chemimage.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
Predictive Oncology (NASDAQ:POAI)
Historical Stock Chart
From Mar 2024 to Apr 2024
Predictive Oncology (NASDAQ:POAI)
Historical Stock Chart
From Apr 2023 to Apr 2024