PD Theranostics, Inc., provider of AI-driven tools to improve clinical decision-making in serious diseases, and a Laidlaw Venture Partners (“LVP”) portfolio company, today issued the following investor update.
NEW YORK, Aug. 12, 2020 (GLOBE NEWSWIRE) -- PD Theranostics, Inc., provider of AI-driven tools to improve clinical decision-making in serious diseases, and a Laidlaw Venture Partners (“LVP”) portfolio company, today issued the following investor update.
Dear PD Theranostics Investors, Partners and Friends,
We hope that this update finds you safe and well. Please find the following investor update below.
Recent milestones
- PDTx recently closed its series A round
- Based on the team’s continued efforts, the Department of Defense provided a grant to help support PDTx’s research efforts
- PDTx recently signed a lease for a building across the street from the Vaccine and Immunotherapy Center (VIC) at Mass General. The value of the proximity to the labs cannot be overstated, given that our key scientific personnel are at the VIC daily
- PDTx’s Hyperion Imaging Mass Cytometry (IMC) system will be installed in our space this month. Having this technology in house will exponentially increase the amount of data we can generate to drive our artificial intelligence (AI) efforts. Previously, we had to rent small amounts of time on a machine at Yale (a 2+ hour drive away) …. the only place in New England where you could do so
- Basic AI work has been completed to integrate the IMC data with Mass Spectroscopy data to begin defining clinical course and optimal treatments
- Additional AI work has been done to determine the best possible paths to optimize diagnosis, treatment, and outcomes of various disease states
- New data in both prostate cancer and diabetic foot ulcers continues to be promising
What is next?
- Execute a Sponsored Research Agreement with Mass General for additional research programs
- Hire a tech to manage the Hyperion data generation
- Develop a more robust AI capability (more data = better programming)
- Add an additional board member
- Involve additional clinicians at Mass General / Harvard in tissue sampling / diagnosis studies
- We believe that PDTx’s data analysis and imaging workflows will continue to lead to new and valuable intellectual property
PD Theranostics Chief Executive Officer, Patrick Gallager stated, “The past several months have been incredibly productive at PDTx. We have clearly made both tangible and measurable progress that we believe positions us to achieve key milestones, which are expected to enhance shareholder value.”
“Artificial intelligence, when used to enhance interpretation of results from cutting edge imaging technology, has the potential to substantially improve diagnosis, treatment and outcomes of patients with a range of diseases,” stated James Ahern, Founder Laidlaw Venture Partners.
About PD Theranostics, Inc.
PD Theranostics is developing AI guided algorithms while leveraging proprietary workflows and methods utilizing imaging-based methodologies to diagnose and guide clinical decision making around specific targeted therapies and their efficacy in human disease states, including cancer, infectious diseases and complications of diabetes including diabetic foot ulcers. Please visit www.pdtheranostics.com for more information.
Forward Looking Statements
This press release includes “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements in this press release include, but are not limited to, statements that relate to the advancement and development of the VaxCelerate Platform, the commencement of clinical trials, the availability of data from clinical trials and other information that is not historical information. When used herein, words such as “anticipate”, “being”, “will”, “plan”, “may”, “continue”, and similar expressions are intended to identify forward-looking statements. In addition, any statements or information that refer to expectations, beliefs, plans, projections, objectives, performance or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking. All forward-looking statements are based upon PD Theranostics’ current expectations and various assumptions. PD Theranostics believes there is a reasonable basis for its expectations and beliefs, but they are inherently uncertain. PD Theranostics may not realize its expectations, and its beliefs may not prove correct. Actual results could differ materially from those described or implied by such forward-looking statements as a result of various important factors, including, without limitation, market conditions and any PD Theranostics filings made with the Securities and Exchange Commission. Consequently, forward-looking statements should be regarded solely as PD Theranostics’ current plans, estimates and beliefs. Investors should not place undue reliance on forward-looking statements. PD Theranostics cannot guarantee future results, events, levels of activity, performance or achievements. PD Theranostics does not undertake and specifically declines any obligation to update, republish, or revise any forward-looking statements to reflect new information, future events or circumstances or to reflect the occurrences of unanticipated events, except as may be required by law.
Investor Contact:
Matt Duffy,
President
PD Theranostics, Inc.
646-335-5923
mduffy@luciuspartnersllc.com
Jason Assad
PD Theranostics, Inc.
Investor Relations
678-570-6791
jwassad@bellsouth.net
