Latest news with #POAI
Yahoo
22-05-2025
- Business
- Yahoo
Renovaro Inc. Announces Expedited Trail for 2025 Lawsuit to Enforce Binding Merger Agreement with Predictive Oncology
LOS ANGELES, May 22, 2025 (GLOBE NEWSWIRE) -- Renovaro Inc. (NASDAQ: RENB), a TechBio leader focused on next-generation diagnostics, drug discovery, and genetically enhanced cancer therapies, today announced that it has received a ruling to expedite a trial in 2025 for the lawsuit it filed on May 9, 2025, in the Delaware Court of Chancery against Predictive Oncology Inc. (NASDAQ: POAI), seeking to enforce a binding merger agreement executed on January 1, 2025. According to the Verified Complaint, the companies entered into a legally binding Letter Agreement pursuant to which Predictive Oncology would merge into Renovaro in exchange for a newly created class of preferred stock. Following the public disclosure of the agreement in a Form 8-K filed by POAI on January 6, 2025, POAI's stock price rose by more than 50%. Renovaro alleges that Predictive Oncology breached the agreement's exclusivity and good faith negotiation provisions by conducting a public offering of $545,000 in securities on February 19, 2025—despite contractual restrictions—and later attempting to terminate the agreement unilaterally on April 3, 2025, without engaging meaningfully in the negotiation of a definitive merger agreement. 'This transaction was intended to create strategic and shareholder value for both companies. Unfortunately, Predictive Oncology has disregarded its contractual commitments,' said a Renovaro spokesperson. 'We are pursuing legal remedies to enforce our rights and protect our shareholders' interests.' The litigation seeks specific performance, injunctive relief, and damages for the alleged breaches. The case is pending in the Delaware Court of Chancery under Case No. 2025-0509. About Renovaro Inc. Renovaro 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, and BioSymetrics which specializes in contingent AI for precision neurology. For more information, visit Forward-Looking Statements This release contains forward-looking statements, including those relating to the pending litigation and the proposed merger. These statements involve risks and uncertainties and are subject to change based on future developments. Renovaro undertakes no obligation to update any forward-looking statements except as required by law. Investor Relations Chris TysonExecutive Vice PresidentMZ Group - MZ North America949-491-8235RENB@ For media inquiries, please contact: karen@ in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
22-05-2025
- Business
- Yahoo
Renovaro Inc. Announces Expedited Trail for 2025 Lawsuit to Enforce Binding Merger Agreement with Predictive Oncology
LOS ANGELES, May 22, 2025 (GLOBE NEWSWIRE) -- Renovaro Inc. (NASDAQ: RENB), a TechBio leader focused on next-generation diagnostics, drug discovery, and genetically enhanced cancer therapies, today announced that it has received a ruling to expedite a trial in 2025 for the lawsuit it filed on May 9, 2025, in the Delaware Court of Chancery against Predictive Oncology Inc. (NASDAQ: POAI), seeking to enforce a binding merger agreement executed on January 1, 2025. According to the Verified Complaint, the companies entered into a legally binding Letter Agreement pursuant to which Predictive Oncology would merge into Renovaro in exchange for a newly created class of preferred stock. Following the public disclosure of the agreement in a Form 8-K filed by POAI on January 6, 2025, POAI's stock price rose by more than 50%. Renovaro alleges that Predictive Oncology breached the agreement's exclusivity and good faith negotiation provisions by conducting a public offering of $545,000 in securities on February 19, 2025—despite contractual restrictions—and later attempting to terminate the agreement unilaterally on April 3, 2025, without engaging meaningfully in the negotiation of a definitive merger agreement. 'This transaction was intended to create strategic and shareholder value for both companies. Unfortunately, Predictive Oncology has disregarded its contractual commitments,' said a Renovaro spokesperson. 'We are pursuing legal remedies to enforce our rights and protect our shareholders' interests.' The litigation seeks specific performance, injunctive relief, and damages for the alleged breaches. The case is pending in the Delaware Court of Chancery under Case No. 2025-0509. About Renovaro Inc. Renovaro 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, and BioSymetrics which specializes in contingent AI for precision neurology. For more information, visit Forward-Looking Statements This release contains forward-looking statements, including those relating to the pending litigation and the proposed merger. These statements involve risks and uncertainties and are subject to change based on future developments. Renovaro undertakes no obligation to update any forward-looking statements except as required by law. Investor Relations Chris TysonExecutive Vice PresidentMZ Group - MZ North America949-491-8235RENB@ For media inquiries, please contact: karen@ in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
04-04-2025
- Business
- Yahoo
Renovaro Provides Update to Definitive Agreement with Predictive Oncology
LOS ANGELES, April 04, 2025 (GLOBE NEWSWIRE) -- Renovaro Biosciences Inc. (NASDAQ: RENB), a TechBio leader focused on next-generation diagnostics, drug discovery, and genetically enhanced cancer therapies, today provided an update regarding its Definitive Agreement with Predictive Oncology 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. Renovaro entered into a binding agreement merger agreement with Predictive Oncology, Inc. ('POI') dated January 1, 2025, and supplemented with the Extension Agreement dated February 28, 2025 (collectively, the 'Binding Agreements'). On April 3, 2025, Renovaro received an email from POI terminating the merger transaction. Renovaro's position is that POI must comply with the binding obligations thereunder and enter into an exclusive License Agreement as required in each of the Binding Agreements. Renovaro notes that POI is in breach of the Binding Agreements and has caused substantial damage to Renovaro for which it will seek redress. Failure to enter into an exclusive License Agreement on the terms set forth in the Binding Agreement on or before April 10, 2025, will cause Renovaro to seek all its legal remedies to recover all its damages and/or seek additional remedies to fully redress the breaches. About Renovaro Renovaro 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 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 RelationsChris TysonExecutive Vice PresidentMZ Group - MZ North America949-491-8235RENB@ For media inquiries, please contact:karen@
