Renovaro Completes First Milestone Payment to Finalize Definitive Agreement with Predictive Oncology
Renovaro Biosciences (NASDAQ: RENB) has initiated the first milestone payment towards finalizing a definitive agreement with Predictive Oncology (NASDAQ: POAI). The payment advances the integration of AI/ML platforms, laboratory capabilities, and business development efforts across Europe and the US.
The merger combines Predictive's AI drug discovery platform, including a biobank of 150,000+ patient tumor samples and 200,000 pathology slides, with Renovaro's multi-disciplinary AI and multi-omic expertise. This integration follows Renovaro's recent $15 million equity commitment and merger agreement with BioSymetrics.
The transaction structure includes issuing Predictive Oncology shareholders an 18-month $3 Redeemable Preferred share. The companies expect to sign a definitive agreement within weeks, focusing on commercializing drug discovery and diagnostic platforms.
Renovaro Biosciences (NASDAQ: RENB) ha avviato il primo pagamento di un traguardo per finalizzare un accordo definitivo con Predictive Oncology (NASDAQ: POAI). Il pagamento favorisce l'integrazione delle piattaforme AI/ML, delle capacità di laboratorio e degli sforzi di sviluppo commerciale in Europa e negli Stati Uniti.
La fusione combina la piattaforma di scoperta di farmaci AI di Predictive, che include una biobanca di oltre 150.000 campioni tumorali di pazienti e 200.000 vetrini patologici, con l'expertise multidisciplinare AI e multi-omica di Renovaro. Questa integrazione segue il recente impegno di capitale di 15 milioni di dollari di Renovaro e l'accordo di fusione con BioSymetrics.
La struttura della transazione prevede l'emissione di azioni privilegiate rimborsabili da 3 dollari per 18 mesi agli azionisti di Predictive Oncology. Le aziende si aspettano di firmare un accordo definitivo entro poche settimane, concentrandosi sulla commercializzazione delle piattaforme di scoperta di farmaci e diagnostica.
Renovaro Biosciences (NASDAQ: RENB) ha iniciado el primer pago de un hito para finalizar un acuerdo definitivo con Predictive Oncology (NASDAQ: POAI). El pago avanza la integración de plataformas de IA/ML, capacidades de laboratorio y esfuerzos de desarrollo comercial en Europa y EE. UU.
La fusión combina la plataforma de descubrimiento de fármacos de IA de Predictive, que incluye un biobanco de más de 150,000 muestras tumorales de pacientes y 200,000 diapositivas de patología, con la experiencia multidisciplinaria en IA y multi-ómica de Renovaro. Esta integración sigue el reciente compromiso de capital de 15 millones de dólares de Renovaro y el acuerdo de fusión con BioSymetrics.
La estructura de la transacción incluye la emisión de acciones preferentes redimibles de 3 dólares durante 18 meses a los accionistas de Predictive Oncology. Las empresas esperan firmar un acuerdo definitivo en unas pocas semanas, enfocándose en la comercialización de plataformas de descubrimiento de fármacos y diagnóstico.
레노바로 바이오사이언스 (NASDAQ: RENB)는 프레딕티브 온콜로지 (NASDAQ: POAI)와의 최종 계약을 체결하기 위한 첫 번째 이정표 지급을 시작했습니다. 이 지급은 유럽과 미국 전역에서 AI/ML 플랫폼, 실험실 능력 및 사업 개발 노력을 통합하는 데 기여합니다.
이번 합병은 프레딕티브의 AI 약물 발견 플랫폼과 150,000개 이상의 환자 종양 샘플 및 200,000개의 병리 슬라이드로 구성된 바이오뱅크를 레노바로의 다학제적 AI 및 다중 오믹 전문성과 결합합니다. 이 통합은 레노바로의 최근 1,500만 달러 자본 약정 및 바이오시메트릭스와의 합병 계약에 이어 진행됩니다.
거래 구조에는 프레딕티브 온콜로지 주주에게 18개월 동안 3달러의 상환 가능한 우선주를 발행하는 것이 포함됩니다. 두 회사는 약물 발견 및 진단 플랫폼의 상용화에 집중하며 몇 주 내에 최종 계약을 체결할 것으로 예상하고 있습니다.
Renovaro Biosciences (NASDAQ: RENB) a lancé le premier paiement d'une étape pour finaliser un accord définitif avec Predictive Oncology (NASDAQ: POAI). Ce paiement favorise l'intégration des plateformes AI/ML, des capacités de laboratoire et des efforts de développement commercial en Europe et aux États-Unis.
La fusion combine la plateforme de découverte de médicaments AI de Predictive, qui comprend une biobanque de plus de 150 000 échantillons tumoraux de patients et 200 000 lames pathologiques, avec l'expertise multidisciplinaire AI et multi-omique de Renovaro. Cette intégration fait suite à l'engagement en capital de 15 millions de dollars de Renovaro et à l'accord de fusion avec BioSymetrics.
La structure de la transaction comprend l'émission d'actions privilégiées remboursables de 3 dollars pendant 18 mois aux actionnaires de Predictive Oncology. Les entreprises s'attendent à signer un accord définitif dans les semaines à venir, en se concentrant sur la commercialisation des plateformes de découverte de médicaments et de diagnostic.
Renovaro Biosciences (NASDAQ: RENB) hat die erste Meilensteinzahlung zur Finalisierung eines endgültigen Vertrags mit Predictive Oncology (NASDAQ: POAI) initiiert. Die Zahlung fördert die Integration von KI/ML-Plattformen, Laborfähigkeiten und Geschäftsentwicklungsbemühungen in Europa und den USA.
Die Fusion kombiniert Predictives KI-gestützte Arzneimittelentdeckungsplattform, einschließlich einer Biobank mit über 150.000 Tumorproben von Patienten und 200.000 pathologischen Folien, mit Renovaros multidisziplinärer KI- und multi-omischen Expertise. Diese Integration folgt Renovaros kürzlichem Eigenkapitalengagement von 15 Millionen Dollar und dem Fusionsvertrag mit BioSymetrics.
Die Transaktionsstruktur umfasst die Ausgabe von 18 Monate lang 3-Dollar einlösbaren Vorzugsaktien an die Aktionäre von Predictive Oncology. Die Unternehmen erwarten, innerhalb weniger Wochen einen endgültigen Vertrag zu unterzeichnen, wobei der Schwerpunkt auf der Kommerzialisierung von Arzneimittelentdeckungs- und Diagnosetechnologien liegt.
- First milestone payment completed towards merger
- $15M additional equity committed
- Access to 150,000+ tumor samples and 200,000 pathology slides
- Expansion of AI/ML capabilities through multiple platform integration
- Merger completion timeline still uncertain
- Complex logistics in combining technologies and international teams noted as challenge
Insights
Renovaro's first milestone payment to Predictive Oncology represents a significant step in executing their multi-company integration strategy in the oncology AI space. This transaction demonstrates tangible progress toward finalizing the previously announced merger, with clear financial commitment behind their strategic vision.
The company's recent
This three-way integration of Renovaro, Predictive Oncology, and BioSymetrics creates a vertically integrated AI-driven oncology platform combining valuable data assets (150,000+ tumor samples) with analytical capabilities. For a company with a market cap of just
The expanded capabilities in drug discovery and diagnostics position Renovaro to potentially generate multiple revenue streams across the oncology value chain, from biomarker discovery to therapeutic development. The European expansion mentioned for ChemoFx also suggests near-term commercial opportunities in international markets.
This milestone payment represents critical execution in Renovaro's transformation into a comprehensive oncology TechBio platform. By integrating Predictive Oncology's extensive biobank (150,000+ patient tumor samples and 200,000+ pathology slides) with BioSymetrics' AI capabilities and their own RenovaroCube technology, the company is building a particularly valuable asset combination in the precision oncology space.
The longitudinal drug response data from Predictive Oncology provides a competitive advantage for AI-driven drug discovery, as historical response data remains one of the most valuable and difficult-to-replicate assets in computational oncology. This data, combined with advanced AI/ML models, can significantly accelerate biomarker identification and validation.
The mention of commercializing ChemoFx in Europe signals a near-term revenue opportunity, leveraging an established diagnostic platform in new markets. This could provide cash flow while the company develops its longer-term drug discovery programs.
The integration of these three entities creates an end-to-end solution spanning multiple stages of oncology research and development - from initial biomarker discovery through diagnostic application and therapeutic development. This vertical integration differentiates Renovaro from competitors who typically focus on narrower segments of the oncology value chain.
Company Commits the First Tranche of Financing to Initiate the Integration of AI/ML Platform Technologies, Core Laboratory Capabilities and Business Development Efforts in Europe and the United States
Renovaro’s Strategic Acquisition of BioSymetrics Vastly Expands Biomarker and Drug Discovery Opportunities and the Development of Diagnostic Applications in Oncology
LOS ANGELES, March 03, 2025 (GLOBE NEWSWIRE) -- Renovaro Biosciences Inc. (NASDAQ: RENB), a TechBio leader focused on next-generation diagnostics, drug discovery, and genetically enhanced cancer therapies, today announced that it has advanced the first tranche of financing to Predictive Oncology, Inc. (NASDAQ: POAI) to initiate the previously announced integration of AI/ML platform technologies, core laboratory capabilities and business development efforts in Europe and the United States.
By adding Predictive’s AI-driven drug discovery platform, vast biobank of more than 150,000 patient tumor samples, 200,000 pathology slides and decades of longitudinal drug response data to Renovaro’s multi-disciplinary artificial intelligence, multi-omic and multi-modal data expertise, the combined company will be positioned to commercialize its drug discovery and diagnostic platforms.
“Since we first announced our intentions to merge with Predictive Oncology in January, we have worked diligently to thoroughly evaluate the expanded market opportunities created by this merger and the recent merger agreement with BioSymetrics,” said David Weinstein, CEO of Renovaro. “We are committed to building a world class diagnostics and discovery company, underscored by our recent
Raymond Vennare, Chairman and Chief Executive Officer of Predictive Oncology added, “The recent acquisition of BioSymetrics, and our ability to launch ChemoFx in Europe, represent a significant step forward in our efforts. Although we have been working well together over the past two months, the complicated logistics of combining these technologies and international teams still requires a bit more effort, but we fully expect to be signing a definitive agreement within the next few weeks.”
The current transaction involves issuing each Predictive Oncology shareholder an 18-month
About Predictive Oncology
Predictive Oncology is on the cutting edge of the rapidly growing use of artificial intelligence and machine learning to expedite early biomarker and drug discovery and enable drug development for the benefit of cancer patients worldwide. The company’s proprietary AI/ML platform has been scientifically validated to predict with
About Renovaro
Renovaro https://renovarogroup.com/ aims to accelerate precision and personalized medicine for longevity powered by mutually reinforcing AI and biotechnology platforms for early diagnosis, better-targeted treatments, and drug discovery. Renovaro Inc. includes RenovaroBio with its advanced cell-gene immunotherapy company and RenovaroCube that is leveraging AI for multi-omic diagnostics and drug development. For more information, visit www.renovarogroup.com.
Forward-Looking Statements
Statements in this press release that are not strictly historical in nature are forward-looking statements. These statements are only predictions based on current information and expectations and involve a number of risks and uncertainties, including but not limited to the success or efficacy of our pipeline, platform and fundraising. All statements other than historical facts are forward-looking statements, which can be identified by the use of forward-looking terminology such as “believes,” “plans,” “expects,” “aims,” “intends,” “potential,” or similar expressions. Actual events or results may differ materially from those projected in any of such statements due to various uncertainties, including as set forth in Renovaro’s most recent Annual Report on Form 10-K filed with the SEC. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, and Renovaro Inc. undertakes no obligation to revise or update this press release to reflect events or circumstances after the date hereof.
Investor Relations
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FAQ
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