TumorGenesis, Inc. a subsidiary of Predictive Oncology, Inc. (NASDAQ: POAI) has selected US Biological Corporation of Salem, Massachusetts as the manufacturer and distributor of its innovative culture media for growing ovarian tumor cells.
MINNEAPOLIS, Feb. 05, 2020 (GLOBE NEWSWIRE) -- TumorGenesis, Inc. a subsidiary of Predictive Oncology, Inc. (NASDAQ: POAI) has selected US Biological Corporation of Salem, Massachusetts as the manufacturer and distributor of its innovative culture media for growing ovarian tumor cells.
Unlike traditional cell culture media, which select for one or two fast growing cell types, TumorGenesis media are specially formulated to help researchers isolate and maintain the unique histological and basic biological signatures of heterogeneous ovarian cell types while growing them in the laboratory.
“Using these proprietary media our partners have identified 25 cell types from ovarian tumors, which to a large degree have never been screened or studied by researchers,” said Richard Gabriel, President of TumorGenesis, Inc. “The resulting cells have a 95+% match to cells found in patient bodies.”
Available for purchase via US Biological in Q1-2020, the new media are being launched at a time when, according to MarketWatch, the global cell culture media market is growing at a healthy 8.4% CAGR, driven mainly by the increased use of biological based drugs such as immune therapies, and is expected to reach US $2,360 Million by 2024.
While specialty media is a small subset of the market, Gabriel sees this ovarian-specific formulation as the first in a portfolio of tools and services TumorGenesis will offer to cancer researchers. “We believe by helping researchers develop cells and tumors that more closely mimic cells and tumor found in patient bodies, we can help lower the cost and speed the discovery of drugs and therapies that will approve patient outcomes.”
About Predictive Oncology Inc.
Predictive Oncology (Nasdaq: POAI) operates through five segments (Domestic, International, Clinical, CRO and DCHIP), 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 (D- CHIP) 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.
Forward-looking Statements
Certain 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. Risks and uncertainties relating to a transaction with Quantitative Medicine include no assurance that a transaction will be completed or, if completed, no assurance that the acquisition of Quantitative Medicine would result in anticipated benefits. Further, the acquisition could involve unanticipated costs, distractions to Company management or other risks or adverse effects, and any issuance of equity securities in the transaction would result in dilution to the Company’s stockholders, which may be significant. Other risks and uncertainties regarding the Company’s securities 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; Predictive’s ability to implement its long range business plan for various applications of its technology; Predictive’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 Predictive’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 Predictive’s financial position. See Predictive’s most recent Annual Report on Form 10-K, and subsequent reports and other filings at www.sec.gov.
Contact:
Bob Myers
651-389-4800
bmyers@skylinemedical.com
