- POAI’s Soluble Biotech announces first substantial contract with pharmaceutical company since acquisition
- Founder calls contract “major milestone,” validation of move into new facility
- POAI’s Skyline Medical sells eight proprietary STREAMWAY(R) systems to Virginia-based hospital organization
Soluble Biotech, a division of Predictive Oncology (NASDAQ: POAI), has finalized its first substantial contract with a pharmaceutical company since being acquired by POAI earlier this year (https://ibn.fm/gXjd2). Soluble Biotech is a provider of soluble and stable formulations for proteins including vaccines, antibodies, large and small proteins and protein complexes. The contract calls for Soluble Biotech’s expertise in protein expression and solubility studies.
“Our first contract is a major milestone and validates our recent move into a new, larger facility,” said Soluble Biotech founder Dr. Larry DeLucas, who is also a former NASA astronaut. “We quadrupled our laboratory and office space, some of which will eventually include a GMP facility. Additionally, we acquired state-of-the-art equipment to support our fermentation, therapeutic protein formulation development and protein stability studies.”
Soluble Biotech is fast becoming recognized for its ability to enhance the drug-development process by rapidly optimizing protein solubility and stability. The company brings proprietary transformational technology to formulation development for protein-based pharmaceutical and vaccines. In addition, its solubilization and stability technology is used at academic, pharmaceutical and government laboratories involved in conducting fundamental protein research.
“With our first contract on the books, and expanded capacity, the future is bright,” said DeLucas. “We are currently negotiating several additional contracts with biotechnology and pharmaceutical companies.”
In addition to this POAI milestone, the company also announced that its Skyline Medical division has sold eight of its proprietary STREAMWAY systems to a large Virginia-based university hospital organization for use in a new surgical center (https://ibn.fm/JQ6AA); the hospital system previously purchased two STREAMWAY systems, which are currently in use.
The FDA-approved and CE-marked STREAMWAY Systems provide automated, direct-to-drain medical fluid disposal that is changing the way health-care facilities collect and dispose of potentially infectious waste fluid. The eight-system sale brings the total systems sold for Q3 2020 up to 13.
POAI is bringing precision medicine, or tailored medical treatment using the individual characteristics of each patient, to the treatment of cancer. Through its Helomics division, the company leverages its unique, clinically validated patient derived (“PDx”) smart tumor profiling platform to provide oncologists with a roadmap to help individualize therapy. In addition, the company is leveraging artificial intelligence and its proprietary database of over 150,000 cancer cases tumors to build AI-driven models of tumor drug response to improve outcomes for the patients of today and tomorrow.
For more information about the company, visit 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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