Predictive Oncology Inc. CEO Provides Updates on Subsidiaries, Highlights Recent Milestones and ...
NEW YORK, Oct. 27, 2020 (GLOBE NEWSWIRE) -- via NetworkNewsAudio — Predictive Oncology Inc. (NASDAQ: POAI) today announces that its chief executive officer, Carl Schwartz, has been featured in an exclusive audio interview with NetworkNewsWire (“NNW”), a financial news and content distribution company and one of 50+ brands in the InvestorBrandNetwork (“IBN”). During the interview, Schwartz provided an update on the company’s recent milestones and near-term goals following the October release of his Letterto Shareholders. In particular, Schwartz put a focus on the company’s subsidiaries: Skyline Medical, TumorGenesis, Soluble Biotech and Helomics.
After offering some brief insight into the operations of Skyline Medical, Schwartz turned his attention toward TumorGenesis.
“TumorGenesis is an interesting company. The whole purpose of it was to develop a lab media to replace rats and mice in the scientific industries and in the testing of tumors,” he stated in the interview. “They have developed the first one, which is ovarian cancer, and the results of this are that this media, which, as I said, replicates the body, fools the tumor into thinking it’s still in the body. Its reactions are very, very similar to what it would have done had it been in the body. Now, the next step is to get it positioned to manufacturers and getting the kits out so people can use it. That’s coming along handsomely. It’ll take a little time to get all this put in place, but the optimism is there, and the results are wonderful. We’re very excited.”
Schwartz then discussed Predictive Oncology’s newest subsidiary. “[Soluble Biotech] is our newest acquisition. These are two labs that we put together, and we moved them now into a research park. We quadrupled the space that they have, and they have the latest in equipment,” he continued. “The technology used by Soluble is proprietary. These machines that we have were developed some time ago and are the only machines of their kind. In the determination of solubility of products, they work wonders in that area. We expect, going forward, that they’ll get a number of contracts.”
Looking ahead to the balance of 2020 and beyond, Schwartz put a spotlight on the company’s remaining subsidiary, Helomics.
“I think the fourth quarter, obviously, will be eventful. We have positioned Helomics to compete in the marketplace,” he said. “The original basis of Helomics… was that physicians or hospitals would send their tumors to this company and they would test the tumors with the known therapies of the day… In that process, [Helomics] accumulated over 150,000 tumors covering over 137 different cancers… That database is the largest of its kind in the world… With that data, and the fact that we’ve sequenced these tumors, we have shown that we can provide quality information to anyone who needs it. There’s a lot going on at Helomics. We think we’ve validated the company. We’ve got assets that are one-of-a-kind in the world, and we think we are on our way to where we wanted to be when we first purchased this company a couple of years ago.”
About Predictive Oncology Inc.
Predictive Oncology (NASDAQ: POAI) 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 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, visit the company’s website at www.Predictive-Oncology.com
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This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. In evaluating such statements, prospective investors should review carefully various risks and uncertainties identified in this release and matters set in the company’s SEC filings. These risks and uncertainties could cause the company’s actual results to differ materially from those indicated in the forward-looking statements.