Predictive Oncology (NASDAQ: POAI), a knowledge-driven company focused on applying artificial intelligence (“AI”) to personalized medicine and drug discovery, this morning announced its entrance into a securities purchase agreement with certain accredited investors to raise $3.5 million through the issuance of up to 1,650,165 shares of common stock or common stock equivalents and accompanying warrants to purchase a total of up to 3,300,330 shares of common stock at a price of $2.121 each. The warrants will be exercisable immediately at an exercise price of $1.88 each, with one-half of the warrants to expire two years after the date of issuance, and the remaining half to expire five and one-half years after the date of issuance. The closing of the private placement is subject to the satisfaction of customary closing conditions in accordance with the securities purchase agreement. Predictive Oncology plans to use the net proceeds for general corporate purposes. Per an agreement with the investors, Predictive Oncology is required to file an initial registration statement with the Securities and Exchange Commission (“SEC”) covering the resale of the shares to be issued to the investors no later than thirty days after the closing and to have the registration statement declared effective no later than 90 days after today in the event of a “full review” by the SEC.
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About Predictive Oncology Inc.
Predictive Oncology (NASDAQ: POAI) operates through three segments (Domestic, International and other), which 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 roadmap 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 to 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, please visit www.Predictive-Oncology.com.
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