EAGAN, Minn., Aug. 20, 2020 (GLOBE NEWSWIRE) -- Predictive Oncology (NASDAQ: POAI), a knowledge-driven company focused on applying artificial intelligence (“AI”) to personalized medicine and drug discovery, is excited to announce that its Soluble Biotech division, a provider of soluble and stable formulations for proteins, just received its first substantial contract from a major pharmaceutical company since being acquired by Predictive Oncology in May 2020. The project involves protein expression followed by solubility studies, areas of significant expertise within Soluble Biotech.
“Our first contract is a major milestone and validates our recent move into a new, larger facility”, says Dr. Larry DeLucas, former NASA astronaut and founder of Soluble Biotech. “We quadrupled our laboratory and office space, some of which will eventually include a GMP facility. Additionally, we acquired state-of-the-art equipment to support our fermentation, therapeutic protein formulation development and protein stability studies. With our first contract on the books, and expanded capacity, the future is bright. We are currently negotiating several additional contracts with biotechnology and pharmaceutical companies.”
About Soluble Biotech, Inc.
Soluble Biotech is a provider of soluble and stable formulations for proteins including vaccines, antibodies, large and small proteins and protein complexes. The company’s services enhance the drug development process by rapidly optimizing protein solubility and stability. Soluble Biotech brings transformational technology to formulation development for protein-based pharmaceutical and vaccines. In addition, our solubilization & stability technology supports fundamental protein research at academic, pharmaceutical and government laboratories. To learn more, please visit: https://solublebiotech.com
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™, 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 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 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.
Portions of the narrative set for this document that are not statements of historical or current facts are forward-looking statements, in particular, the commercial outlook provided above. Our actual future performance may materially differ from that contemplated by the forward-looking statements as a result of a variety of factors.
These factors include, in addition to those mentioned elsewhere herein:
We may not be able to continue operating without additional financing;
Current negative operating cash flows;
The terms of any further financing, which may be highly dilutive and may include onerous terms;
Risks related to the 2019 merger with Helomics including; 1) significant goodwill could result in further impairment; 2) possible failure to realize anticipated benefits of the merger; 3) costs associated with the merger may be higher than expected; 4) the merger may result in the disruption of our existing businesses; and 5) distraction of management and diversion of resources;
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;
Risks related to the transaction with Quantitative Medicine including: 1) possible failure to realize anticipated benefits of the transaction; 2) costs associated with the acquisition may be higher than expected; 3) the transaction may result in the disruption of our existing businesses; and 4) distraction of management and diversion of resources;
Risk that we will be unable to protect our intellectual property or claims that we are infringing on others’ intellectual property;
The impact of competition;
Acquisition and maintenance of any necessary regulatory clearances applicable to applications of our technology;
Inability to attract or retain qualified senior management personnel, including sales and marketing personnel;
Risk that we never become profitable if our product is not accepted by potential customers;
Possible impact of government regulation and scrutiny;
Unexpected costs and operating deficits, and lower than expected sales and revenues, if any;
Adverse results of any legal proceedings;
The volatility of our operating results and financial condition;
Management of growth;
Material and adverse effects of the COVD-19 pandemic, including impact on a significant supplier; a reduction in on-site staff at several of our facilities, resulting in delayed production and less efficiency; impact on sales efforts; impact on accounts receivable and terms demanded by suppliers; and possible impact on financing transactions; and,
Other specific risks 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.
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