Renovaro – a pioneer in cancer diagnostics and therapeutics powered by AI – announced it has entered into a binding LOI to acquire Predictive Oncology (POAI) in an all-stock transaction.
By utilizing Predictive Oncology’s extensive biobank of 150,000 tumor samples, Renovaro gains an invaluable resource to accelerate biomarker discovery, clinical trial optimization, and clinical decision support tools across multiple cancer types. And the combined organization will have a state-of-the-art CLIA, NYSDOH, and CA-certified laboratory staffed by a highly experienced team.
This infrastructure streamlines Renovaro’s development, validation, and rollout of new diagnostic tests in Europe, improving speed to market and expanding global reach and it introduces novel in vivo chemosensitivity and resistance assay for predicting patient response to cancer chemotherapy to the European markets. Plus, it enables the company to collaborate across multi-omic platforms for drug discovery.
Renovaro’s partnership with Predictive Oncology also creates a powerful foundation for delivering a global point-of-care solution for cancer. By integrating Predictive Oncology’s AI-driven small molecule solid tumor expertise with Renovaro’s AI-based liquid biopsy and cancer vaccine programs, we envision an opportunity to provide patients with a comprehensive, end-to-end solution from diagnostics and early detection to personalized therapies, in silico modeling and biomarker discovery.
Renovaro will acquire 100% of Predictive Oncology’s common shares through the issuance of Preferred stock.
KEY QUOTES:
“Renovaro is on a quest to offer cancer patients early diagnostic options, treatment protocols, and recurrence monitoring. Predictive Oncology will enhance our capabilities by assisting oncologists with patient specific diagnostic and therapeutic clinical support data. Predictive Oncology’s proprietary AI/ML platform has been proven to predict tumor-drug response with 92% accuracy which, I believe, will allow us to launch as a decision support platform for medical oncologists in 2025. As importantly, there are strong synergies with Predictive’s small molecule solid tumor drug-tumor response modeling capabilities and Renovaro’s liquid biopsy approach to early cancer detection and monitoring.”
– David Weinstein, Chief Executive Officer of Renovaro
“We recognize that by integrating Predictive Oncology’s AI-driven drug discovery platform and vast biobank of more than 150,000 patient tumor samples, 200,000 pathology slides and decades of longitudinal drug response data with Renovaro’s multi-disciplinary artificial intelligence, multi-omics and multi-modal data expertise, we are opening to door to diagnostic, therapeutic and drug discovery possibilities that we otherwise would never have considered.”
– Raymond Vennare, Chief Executive Officer of Predictive Oncology
