Predictive Oncology (NASDAQ: POAI) recently entered an agreement with POAI CEO Dr. Carl Schwartz to exchange a $2.1 million promissory note for newly issued equity (http://ibn.fm/lzYPh). An article discussing the company reads, “‘This agreement enables the company to strengthen its balance sheet and simplify its capital structure at a critical juncture in our quest to commercialize our highly valuable database of cancer tumors for the advancement of predictive medicine,’ Schwartz said in a news release. ‘At the same time, it reinforces my commitment and demonstrates my belief in our ability to emerge as a leader in the application of artificial intelligence to oncology therapies.’ . . . According to the agreement, Schwartz will exchange the promissory note for shares of common stock, $0.01 par value of Predictive Oncology at market value. In addition, Schwartz agrees not to sell or otherwise transfer one-half of the shares for three months after the date of the exchange agreement and not to sell or otherwise transfer the remaining shares for six months after the date of the agreement. Negotiated between POAI and Schwartz on an arms-length basis, the agreement was approved by the Audit Committee of the company’s board of directors in accordance with Nasdaq listing requirements.”
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About Predictive Oncology Inc.
Predictive Oncology operates through three segments (domestic, international and other) that contain four subsidiaries; Helomics, TumorGenesis, Skyline Medical and Skyline Europe. 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. Helomics’ CLIA-certified lab provides clinical testing that assists oncologists in individualizing patient-treatment decisions by providing an evidence-based road map for therapy. In addition to its proprietary precision oncology platform, Helomics offers boutique CRO services that leverage its TruTumor(TM), patient-derived tumor models coupled with a wide range of multi-omics assays (genomics, proteomics and biochemical), and an AI-powered proprietary bioinformatics platform to provide a tailored solution to its clients’ specific needs. Predictive Oncology’s TumorGenesis subsidiary is developing a new rapid approach to growing tumors in the laboratory, which essentially “fools” cancer cells into thinking they are still growing inside a patient. Its proprietary Oncology Discovery Technology Platform Kits will assist researchers and clinicians to identify which cancer cells bind to specific biomarkers. Once the biomarkers are identified, they can be used in TumorGenesis’ Oncology Capture Technology Platforms, which isolate and help categorize an individual patient’s heterogeneous tumor samples to enable the development of patient-specific treatment options. Helomics and TumorGenesis are focused on ovarian cancer. Predictive Oncology’s Skyline Medical division 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. The company has achieved sales in five of the seven continents through both direct sales and distributor partners. For more information, visit the company’s website at www.Predictive-Oncology.com.
NOTE TO INVESTORS: The latest news and updates relating to POAI are available in the company’s newsroom at http://ibn.fm/POAI
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