- Predictive Oncology announced the acquisition of Soluble Therapeutics Inc. & BioDtech Inc.
- Acquired companies seek to enhance drug development process through the optimization of protein solubility and stability as well as through detection, removal of endotoxins
- The companies were acquired for consideration amounting to 125,000 common shares and waiving of $1.07 million promissory note issued by parent company, InventaBioTech
- Predictive Oncology seeks to build out its precision medicine business line, aimed at helping clinicians individualize cancer treatment
Predictive Oncology (NASDAQ: POAI), a knowledge-driven medicine company that focuses on applying data and artificial intelligence (“AI”) to cancer personalized medicine and drug discovery, announced that it had completed the acquisition of Soluble Therapeutics Inc. and BioDtech Inc. (http://ibn.fm/ccEdD). The company revealed that it had purchased the assets of Soluble and BioDtech, including certain intellectual property relating to contract research organization (“CRO”) services and equipment from parent company InventaBioTech for a total consideration of 125,000 shares of common stock. As part of the transaction, Predictive Oncology also waived all of the remaining amounts due and payable to the company under a secured promissory note of InventaBioTech in the principal amount of $1,070,000 relating to advances made by the company in 2017.
The acquisition of Soluble Therapeutics and BioDtech marks a new step in Predictive Oncology’s journey towards building out its precision medicine business, following its acquisition of its Helomics arm in April 2019. Soluble Therapeutics, which was founded in 2008 with the aim of commercializing technology licensed from…
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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