Predictive Oncology’s, Skyline Medical Division, Developing Generation 3 Direct-to-Drain Automated Fluid Waste Management System

Rhea-AI Summary

Predictive Oncology (NASDAQ: POAI) announced the development of a new Generation 3 STREAMWAY® System aimed at enhancing fluid waste management within medical facilities. This updated system features a 25% size reduction, portable installation options, and an automated dripless design for improved reliability. The company will not require a separate FDA submission for the device, ensuring streamlined approval. CEO Dr. Carl Schwartz indicated that a Generation 3 Plus model will follow, integrating an on-board vacuum pump.

Positive

• Introduction of Generation 3 STREAMWAY® System with enhanced features.
• Device to see a 25% size reduction, improving space efficiency.
• No need for separate FDA submission, facilitating quicker deployment.
• New designs aimed at reducing installation costs and improving maintenance.

Negative

• None.

MINNEAPOLIS, March 08, 2021 (GLOBE NEWSWIRE) -- Predictive Oncology (NASDAQ: POAI), a knowledge-driven company focused on applying artificial intelligence (“AI”) to personalized medicine and drug discovery, announced today that its Skyline Medical Division is renewing developing a new Generation 3 STREAMWAY ® System for direct-to-drain fluid waste management. The new device will see no change to its intended use and will not require a separate 501(k) submission with the Food and Drug Administration.

Some of the key changes to the new generation product will include a 25% size reduction, a portable wall mounting plate to simplify installation thus reducing installation costs, an automated dripless system that ensures optimal reliability when changing out the filters between procedures, modularized subassemblies which will streamline assembly and servicing, a new drop down cover design that allows for access to the core of the unit also for easier servicing, a new software providing state of the art on screen graphics with the latest technology to allow for on screen training as needed, a reduction in both electrical and mechanical internal connections increasing vacuum efficiency, eliminating relays and I/O’s (input/output) through a newly developed integrated PC board providing for real time fluid waste measurement. Lastly, this new design will be smaller, lighter, easier to install with the goal of improving operator reliability, reducing manufacturing costs, increasing durability and simplifying servicing.

“Skyline Medical plans to follow shortly with a Generation 3 Plus machine which includes an integrated on board vacuum pump so the facility vacuum supply will not be required or at the least can be augmented if needed,” commented Dr. Carl Schwartz, CEO of Predictive Oncology.

About Predictive Oncology Inc.

Predictive Oncology (NASDAQ: POAI) operates through three segments (Skyline, Helomics and Soluble Biotech), 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.

Forward-Looking Statements

Certain matters discussed in this release contain forward-looking statements. These forward-looking statements reflect our current expectations and projections about future events and are subject to substantial risks, uncertainties and assumptions about our operations and the investments we make. All statements, other than statements of historical facts, included in this press release regarding our strategy, future operations, future financial position, future revenue and financial performance, projected costs, prospects, plans and objectives of management are forward-looking statements. The words “anticipate,” “believe,” “estimate,” “expect,” “intend,” “may,” “plan,” “would,” “target” and similar expressions are intended to identify forward- looking statements, although not all forward-looking statements contain these identifying words. Our actual future performance may materially differ from that contemplated by the forward-looking statements because of a variety of factors including, among other things, factors discussed under the heading “Risk Factors” in our filings with the SEC. Except as expressly required by law, the Company disclaims any intent or obligation to update these forward-looking statements.

Investor Relations Contact:

Landon Capital
Keith Pinder
(404) 995-6671
kpinder@landoncapital.net

FAQ

What are the features of the Generation 3 STREAMWAY® System by POAI?

The Generation 3 STREAMWAY® System features a 25% size reduction, automated dripless system, portable wall mounting, and enhanced software for on-screen training.

Will the new STREAMWAY® System require FDA approval?

No, the new Generation 3 STREAMWAY® System will not require a separate 501(k) submission with the FDA.

When will the Generation 3 Plus machine be available from POAI?

The Generation 3 Plus machine, which includes an integrated on-board vacuum pump, will be released shortly after the Generation 3 model.

What is the purpose of the STREAMWAY® System?

The STREAMWAY® System automates the collection, measurement, and disposal of waste fluid in medical facilities.