Predictive Oncology (NASDAQ: POAI), a knowledge-driven company focused on applying artificial intelligence (“AI”) to personalized medicine and drug discovery, announced that it had closed on its previously announced registered direct offering. The offering, comprised of 4,222,288 shares of POAI common stock sold at $1.75 per share, totaled $7.4 million in gross proceeds for the company, before expenses were deducted. The shares were priced at-the-market under Nasdaq rules. The announcement also noted that the company issued a concurrent private placement to the same investors; that placement comprised of unregistered warrants up 2,111,144 shares of common stock, priced at $2 per share. In a second announcement, Predictive Oncology noted that, using TumorGenesis technology, two top researchers have identified breakthrough discoveries in understanding how ovarian cancer cells migrate outside the abdominal cavity, or omentum. TumorGenesis is a wholly owned subsidiary of Predictive Oncology. Conducted by a top-tier laboratory in Massachusetts, the research relied on TumorGenesis media to capture, culture and identify how cells break through the protective lining in the abdomen. The study findings could result in the development of drugs that target against that receptor site of the abdominal lining to effectively bloc the metastasis of re-occurring ovarian cancer. “Both targets of the research aided by TumorGenesis’s technology, blocking the omentum penetration and blocking the enzyme that accelerates a response to PARP treatment, once developed and approved, represent several billion dollars in future revenues for biotech or pharma companies,” said Predictive Oncology CEO Dr. Carl Schwartz in the press release. “Three currently available PARP inhibitors, each becoming resistant to ovarian cancer over time, generate $2.8 billion in revenue for such companies. That is why TumorGenesis is expanding its product lines, offering services, and helping pharma, biotech, and researchers around the world to unravel cancer’s mysteries.”
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About Predictive Oncology Inc.
Predictive Oncology operates through three segments (domestic, international and other), 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 (“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. For more information about the company, please visit www.Predictive-Oncology.com.
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