Predictive Oncology set to market AI drug discovery platform
January 27 2022 - 7:30AM
Predictive Oncology Inc. (NASDAQ: POAI) is set to be a first mover
in the artificial intelligence (AI) powered drug discovery market
that POAI expects will grow to $20 billion in the next three years,
reported the Company today in outlining its strategy for 2022. The
Company plans to leverage its existing pharma relationships to
market PeDAL™ in a move that will take the proprietary platform out
of the research lab into the pipelines of oncology drug discovery
companies.
POAI recently completed its Discovery 21 evaluation, the proof
of concept for PeDAL. CoRE™, POAI’s Artificial Intelligence
program, together with tumor profile data, human tumor samples and
active machine learning, power PeDAL to determine the most
effective drug treatment for a specific cancer type. With each
iteration CoRE learns, thus improving the accuracy of the predicted
treatment outcomes as more wet lab experimental data is added to
the models. Identifying the best tumor type early in development
leads to a more focused clinical development program, where the
majority of drug development dollars are spent. The clinical
development cost for a new oncology indication is estimated to be
over $35M, according to the US Department of Health and Human
Services.
“The demonstration of our drug discovery platform provides the
proof of concept that our pharmaceutical partners have been waiting
for,” said J. Melville (Mel) Engle, CEO and Chairman of Predictive
Oncology Inc. (https://youtu.be/WaMjYfaUpcQ) “We expect to meet the
existing demand from pharmaceutical companies for our solutions,
which will help companies streamline their drug discovery
processes, increasing the probability of technical success of new
molecules entering the clinic. PeDAL provides an additional
decision making tool to oncology drug development companies as they
decide which tumor types to invest in and pursue.”
The Company expects to sign new partners this year and establish
a new revenue stream from PeDAL-powered projects. POAI will
initially roll out its services to the existing network of
pharmaceutical companies already working with POAI. The Company
estimates that PeDAL has the potential to improve the success of
molecules going through clinical development. This will result in
effective medicines making it to market faster, saving precious
patent life, and eventually reducing the number of parallel
programs needed for each successful market launch.
The Company expects to begin generating revenue from its PeDAL
platform later this year.
About Predictive Oncology Inc. Predictive Oncology Inc. (NASDAQ:
POAI) is a knowledge-driven company focused on applying artificial
intelligence (AI) to develop personalized cancer therapies, which
can lead to more effective treatments and improved patient
outcomes. Using artificial intelligence, Predictive Oncology uses a
database of 150,000+ cancer tumors, categorized by patient type,
against drug compounds to determine optimal therapies to be used to
ultimately eliminate cancer. As the drug discovery community has
now realized, a genomics-based approach to cancer research and drug
development is insufficient to achieve the promise of personalized
therapeutics. Predictive Oncology instead takes a multiomic
approach, which considers the vast multitude of factors that make
each cancer unique.
For further information, please visit the Predictive Oncology
Inc. website at https://predictive-oncology.com/.
Investor Relations Contact: Landon Capital
Keith Pinder (404) 995-6671 kpinder@landoncapital.net
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 as a result of a
variety of factors including, among other things, risks that we
will not be successful in entering into partnerships with
biopharmaceutical companies, risks that the results of future
evaluations of PeDAL will not be as favorable as the preliminary
results of our internal evaluation, risks related to the recent
acquisition of zPREDICTA, including no assurance of future
operating results of zPREDICTA, no assurance that zPREDICTA’s
customers will continue to utilize zPREDICTA’s services at
historical levels or at all, risk of higher than anticipated
expenses, integration risk, risk of future impairment of goodwill
that would impact POAI’s operating results and reliance on
zPREDICTA’s management and employees, and the 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.
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