Predictive Oncology Reports That Its Wholly Owned Subsidiary, TumorGenesis, Has Sold Media to Two Top Research Medical Centers
EAGAN, Minn., Jan. 14, 2021 (GLOBE NEWSWIRE) -- Predictive Oncology (NASDAQ: POAI), a knowledge-driven company focused on applying artificial intelligence (“AI”) to personalized medicine and drug discovery, announced today that its wholly owned subsidiary TumorGenesis, Inc. in the last quarter has sold media to two top research medical centers, one in New York City and the other in Boston, Massachusetts. Both the New York City and the Boston orders are repeat orders and are focused on culturing ovarian cancer cells with specific research goals. One additional order came from a private company doing research on ovarian cancer.
“We believe that this is the future of ovarian cancer research, which creates new possibilities to coming up with new treatments for this chronic and deadly disease. In order for us to find better drugs, we have to be able to grow the right patient cells in the right media. Building the ‘living library’ of cancer cells for drug screening and discovery is the right first step. Then we can focus on how to kill them,” said Dr. Carl Schwartz, CEO and President of Predictive Oncology, Inc. (NASDAQ: POAI).
“The concept that we can replicate the ovarian cancer cells outside of the patient’s body and in a laboratory well plate or culture flask is remarkable," said Richard Gabriel, board member and President of the TumorGenesis company. “The 15 ovarian cancer cell lines and the media to grow them are examples of what is now being called a ‘living library’ of ovarian cancer tissues. These tissues, in the right TumorGenesis media, replicate not only the DNA/RNA and proteomic signatures but also replicate the histological structures that can be seen in staining, outside the patient’s body,” said Mr. Gabriel.
The 3D cancer cell culture media market is expected to grow at CAGR of approximately 11.3%, to $3.2 billion worldwide in sales in 2027. The reason for the tremendous, expected growth in this market is because much of the older technologies do not reproduce the patient’s tumor cell populations, and immortalized cells (cells that live forever and are altered from the original tumor) are not good models to use in drug discovery and development.
About Predictive Oncology Inc.
Predictive Oncology (NASDAQ: POAI) operates through three segments (Skyline, Helomics and Soluble Biotech), which contain four subsidiaries: Helomics, TumorGenesis, Skyline Medical and Soluble Biotech.
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. TumorGenesis Inc. specializes in media that help cancer cells grow and retain their DNA/RNA and proteomic signatures, providing researchers with a tool to expand and study cancer cell types found in tumors of the blood and organ systems of all mammals, including humans. Skyline Medical 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. Soluble Biotech is a provider of soluble and stable formulations for proteins including vaccines, antibodies, large and small proteins, and protein complexes.
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 because of a variety of factors including, among other things, the possibility that market acceptance of our products would be being slower than expected, the possibility of facing challenges in management of growth or other 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.
Investor Relations Contact:
Landon Capital
Keith Pinder
(404) 995-6671
kpinder@landoncapital.net
