Precision Therapeutics Inc. (NASDAQ: AIPT) (“Precision” or “the
Company”) today announced a collaboration between its wholly owned
subsidiary, Helomics, and Viome, a new kind of healthcare company
transforming health at the molecular level, to study the link
between the gut microbiome and ovarian cancer.
The collaboration will start with a pilot study to determine
what changes occur in the gut microbiome during ovarian cancer
therapy and how those changes might impact outcomes. The
companies intend to apply the results from this study to develop
innovative and holistic approaches to help oncologists better
personalize and optimize ovarian cancer therapy.
“Helomics pioneered using knowledge gained from drug response
and genomic profiling of the patient’s living tumor to help
individualize ovarian cancer therapy. The collaboration with
Viome is groundbreaking, generating data from the microbiome
combined with our existing data and using our respective artificial
intelligence (AI) platforms, to offer an innovative holistic and
personalized approach to helping oncologists choose the best
treatment options for patients with ovarian cancer,” commented
Gerald Vardzel, president of Helomics. “We are pleased to move
forward with Viome in this collaborative effort as it represents a
significant opportunity to monetize our technology and expertise
with distinct insights that could lead to new treatment options
that improve the health and wellbeing of cancer patients.”
The study will utilize Helomics’ proprietary drug response and
genomic profiling of the patients’ tumors, coupled with its
AI-powered bioinformatics platform, D-CHIP, combined with Viome’s
proprietary microbiome analysis platform and artificial
intelligence (AI) platform. The study will investigate if the
gut microbiome differs between ovarian cancer patients and those
without cancer. Additionally, it aims to reveal how different
cancer treatments impact the gut microbiome, and whether the gut
microbiome has an impact on either the effectiveness and/or
toxicity of various cancer treatments.
“We are excited to kick off this novel study to help the
millions of women suffering from ovarian cancer," says Naveen Jain,
CEO and founder of Viome. "We believe the outcome of our work will
be revolutionary and will offer powerful insights and effective
treatments for patients."
In addition, Viome will also explore the role of nutrition and
the gut microbiome in ovarian cancer patients post-treatment in
order to develop personalized food recommendations using Viome
technology to support and restore the immune system, appetite, and
sleep patterns weakened by cancer treatment. Another goal of
this research study is to demonstrate that improving the gut
microbiome through nutrition can play an important role in taking a
holistic approach to treating ovarian cancer. Results will be
shared at the conclusion of the study.
“This collaboration with Viome is the first of what we envision
will be further collaborations in artificial intelligence and data
driven precision medicine, as a consequence of the completion of
Precision Therapeutics’ acquisition of Helomics. We believe
that progress in personalized medicine is primarily a data problem
and therefore applying an artificial intelligence approach has the
potential for huge impact,” commented Dr. Carl Schwartz, chief
executive officer of Precision Therapeutics. “The addition of
Helomics to our company represents an important step forward for
Precision Therapeutics, as it opens the door to creating new
personalized, holistic therapy options for cancer using AI-powered
bioinformatics, that, holding true to our corporate brand, more
precisely tailor both existing therapies and the search for new
therapies based on the patient’s individual tumor
profile.”
About Precision Therapeutics
Inc.Precision Therapeutics (NASDAQ: AIPT) operates in two
business lines, operated through three wholly-owned
subsidiaries. The company’s two business lines include
applying artificial intelligence to personalized medicine and drug
discovery to provide personalized medicine solutions for patients
and clinicians as well as clients in the pharmaceutical,
diagnostic, and biotech industries; and the production and sales of
the FDA-approved STREAMWAY® System for a fully-automated,
direct-to-drain medical fluid disposal system. For additional
information, please visit www.precisiontherapeutics.com.
Precision’s recently acquired, wholly owned
subsidiary, Helomics, is an AI and data-driven precision medicine
company dedicated to improving the standard of care for cancer
patients (especially gynecological) through innovative research and
development partnerships with pharmaceutical, diagnostic,
biotechnology, and academic organizations, leading to better and
more personalized treatments and diagnostic technologies for
cancer. 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 our client’s specific needs.
Its second wholly-owned subsidiary,
TumorGenesis, is developing a new rapid approach to growing tumors
in the laboratory, which essentially “fools” the cancer cells into
thinking they are still growing inside the patient.
Finally, the company’s STREAMWAY System produced
by our Skyline Medical division fully automates the collection,
measurement, and disposal of waste fluids and is designed to: 1)
reduce overhead costs to hospitals and surgical centers; 2) improve
compliance with OSHA and other regulatory agency safety guidelines;
3) improve efficiency in the operating room, and radiology and
endoscopy departments, thereby leading to greater profitability;
and 4) provide greater environmental stewardship by helping to
eliminate the approximately 50 million potentially disease-infected
canisters that go into landfills each year in the U.S. and
virtually eliminates staff exposure to blood, irrigation fluid and
other potentially infectious fluids found in the healthcare
environment. Antiquated manual fluid handling methods that
require hand carrying and emptying filled fluid canisters present
an exposure risk and potential liability. For additional
information, please visit www.skylinemedical.com.
About Viome Viome is a new kind of healthcare
company transforming health at the molecular level. The company
uses advanced technology developed for National Security at the Los
Alamos National Lab to analyze all the genes expressed by our gut
microbiome and the biochemicals produced by these organisms to
assess if they are converting ingredients in the foods that we are
eating into nutrients that our body needs or toxins that are
causing inflammation in the body. From there, Viome’s AI platform
recommends a precise, personalized nutrition plan that outlines the
exact foods to eat, and those to avoid. To learn more about Viome,
visit www.viome.com.
Forward-Looking StatementsCertain 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; Precision’s ability to implement its
long range business plan for various applications of its
technology; Precision’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 Precision’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 Precision’s financial position. See
Precision’s most recent Annual Report on Form 10-K, and subsequent
reports and other filings at www.sec.gov.
Media Contacts:Jules AbrahamCORE
IR917-885-7378julesa@coreir.com
Factory PRviome@factorypr.com
Investor Relations:Bret Shapiro, Managing
PartnerCORE IR(516) 222-2560brets@coreir.com
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