NetworkNewsBreaks – Predictive Oncology Inc. (NA
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Posted On: 06/03/2020 6:34:46 PM
NetworkNewsBreaks – Predictive Oncology Inc. (NASDAQ: POAI) Acquires Soluble Therapeutics, Inc. and BioDtech, Inc.
Predictive Oncology (NASDAQ: POAI), a knowledge-driven company focused on applying artificial intelligence (“AI”) to personalized medicine and drug discovery, on Tuesday announced the completion of the acquisitions of two wholly owned subsidiaries of InventaBioTech, Inc., Soluble Therapeutics, Inc. and BioDtech, Inc. Included in the acquisition were certain intellectual property relating to contract research organization (“CRO”) services and technology, certain equipment useful in such services and technology and all other assets of Soluble Therapeutics and BioDtech. In consideration, POAI issued 125,000 shares of common stock and waived all remaining amounts due and payable to the company under a secured promissory note of InventaBioTech in the principal amount of $1,070,000. “These two acquisitions meaningfully expand revenue and monetization prospects for our precision medicine business. First, the Soluble Therapeutics assets increase the company’s capabilities to provide services for the pharmaceutical and biotech industries and predict and provide the best formulation with the highest concentration and the most stable solution for protein and peptide-based drugs. Second, the company’s purchase of BioDtech’s assets provides it with ownership over BioDtech’s successfully developed test used to ‘unmask’ endotoxins, which allows a monitoring physician to perhaps change the strategy of treatment or treat the patient with antibiotics. These acquisitions will allow Predictive Oncology to further maximize opportunities within the company’s precision medicine business,” Predictive Oncology CEO and Director Dr. Carl Schwartz stated in the news release.
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
Predictive Oncology (NASDAQ: POAI), a knowledge-driven company focused on applying artificial intelligence (“AI”) to personalized medicine and drug discovery, on Tuesday announced the completion of the acquisitions of two wholly owned subsidiaries of InventaBioTech, Inc., Soluble Therapeutics, Inc. and BioDtech, Inc. Included in the acquisition were certain intellectual property relating to contract research organization (“CRO”) services and technology, certain equipment useful in such services and technology and all other assets of Soluble Therapeutics and BioDtech. In consideration, POAI issued 125,000 shares of common stock and waived all remaining amounts due and payable to the company under a secured promissory note of InventaBioTech in the principal amount of $1,070,000. “These two acquisitions meaningfully expand revenue and monetization prospects for our precision medicine business. First, the Soluble Therapeutics assets increase the company’s capabilities to provide services for the pharmaceutical and biotech industries and predict and provide the best formulation with the highest concentration and the most stable solution for protein and peptide-based drugs. Second, the company’s purchase of BioDtech’s assets provides it with ownership over BioDtech’s successfully developed test used to ‘unmask’ endotoxins, which allows a monitoring physician to perhaps change the strategy of treatment or treat the patient with antibiotics. These acquisitions will allow Predictive Oncology to further maximize opportunities within the company’s precision medicine business,” Predictive Oncology CEO and Director Dr. Carl Schwartz stated in the news release.
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
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