Latest news with #RenovaroCube
Associated Press
04-04-2025
- Business
- Associated Press
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. Chris Tyson 949-491-8235 For media inquiries, please contact:
Globe and Mail
03-03-2025
- Business
- Globe and Mail
Milestone Merger Payment made with Predictive Oncology to Advance AI-Driven Biomarker Discovery and Precision Medicine in Cancer and Beyond: Renovaro, Inc. (NASDAQ: RENB)
$RENB Secures $15 Million in New Equity to Support Operations Towards Revolutionizing Healthcare with $POAI • Developing AI and Biotechnology Platforms for Early Diagnosis, Better-Targeted Treatments and Drug Discovery. • Pioneer Leader in Cancer Diagnostics and Therapeutics Powered by Artificial Intelligence (AI). • $15 Million in New Equity Committed to accelerate Focus on Revolutionizing Healthcare via the Company's Established Strategies. • 2025 Shareholder Update Issued from CEO. • Plans to Attend American Association for Cancer Research (AACR), The First and Largest Cancer Research Organization, Annual Meeting in April, 2025. • Funding Approval of LUMINA Minimal Residual Disease Detection Platform for Lung Cancer Harnessing Multi-omics Biomarkers and AI. • Entered Strategic Collaboration with Nebul to Advance a Paradigm Shift for Early Disease Detection. • Plans to Establish the Renovaro GEDi CUBE Next Generation Nvidia Blackwell Cluster with Nebul's Certified AI Healthcare Cloud Solutions. Renovaro, Inc. (Nasdaq: RENB) 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. RENB RenovaroCube has developed an award-winning AI platform that is committed to the early detection of cancer and its recurrence and monitoring subsequent treatments. RenovaroCube intervenes at a stage where potential therapy can be most effective. RENB RenovaroCube is a molecular data science company with a background in FinTech and a 12-year history. It brings together proprietary artificial intelligence (AI) technology, multi-omics, multi-modal data, and the expertise of a carefully selected multidisciplinary team to radically accelerate precision medicine and enable breakthrough changes in cancer care. First Milestone Payment to Finalize Agreement with Predictive Oncology to Initiate the Integration of AI/ML Platform Technologies, Core Laboratory Capabilities and Business Development Efforts in Europe and the United States On March 3rd RENB announced it has advanced the first tranche of financing to) to initiate the previously announced integration of AI/ML platform technologies, core laboratory capabilities and business development efforts in Europe and the United States. By adding Predictive's AI-driven drug discovery platform, vast biobank of more than 150,000 patient tumor samples, 200,000 pathology slides and decades of longitudinal drug response data to the RENB multi-disciplinary artificial intelligence, multi-omic and multi-modal data expertise, the combined company will be positioned to commercialize its drug discovery and diagnostic platforms. On February 26th RENB announced its definitive agreement to merge with BioSymetrics, an artificial intelligence (AI)-driven drug discovery and biomarker identification company. This transformative partnership is designed to enhance Renovaro's data repository, biomarker discovery capabilities, accelerate translational research, and bring precision medicine solutions to cancer and other critical disease areas. At the core of this collaboration is BioSymetrics' proprietary Elion platform, a cutting-edge AI and machine learning engine that uncovers complex biological relationships to accelerate the discovery of diagnostics and therapeutics. BioSymetrics' Phenograph provides a translational engine that maps human clinical signals to prioritized therapeutic targets and is designed to expedite and improve target and biomarker identification and enable patient stratification and drug repurposing. BioSymetrics' advanced AI in vivo modeling and machine vision systems enable high throughput phenotypic screening, leveraging AI-powered analysis to detect subtle biological responses with unprecedented accuracy. Through in vivo modeling BioSymetrics has amassed an incredible database of proprietary in vivo experimentation, with associated behavioral and morphological analysis. This integrated approach hastens the discovery and validation of transformative therapeutics by bridging computational insights with real-world biological validation, and has enabled platform and analytic partnerships with Janssen, Pfizer, Merck, Supernus Pharma, and Deerfield Cures. By integrating Elion into the RENB workflow, the combined entity aims to streamline the translation of biomarker insights into accelerated discovery timelines, enhancing precision in target identification and improving overall research efficiency, ultimately enabling faster and more effective drug discovery and therapeutic development. BioSymetrics' AI technology has been instrumental in uncovering novel disease signatures and optimizing precision medicine strategies. Through this merger, RENB will gain access to cutting-edge computational tools that enhance the ability to stratify patients, predict treatment responses, and drive more effective therapeutic interventions. For more information on BioSymetrics visit: $15 Million in New Equity Committed RENB has also announced that it has $15 million in additional equity committed at a price per share of $1.00 and one privately placed cash warrant exercisable at $1.50 with a one year term. David Weinstein, Chief Executive Officer of Renovaro, commented, 'We believe this new capital now enables the company to accelerate our focus on revolutionizing healthcare by combining advanced diagnostic and personalized immunotherapy for early diagnosis, better-targeted treatments, and drug discovery.' Shareholder Letter and Corporate Update On January 7th RENB issued a letter to shareholders from Chief Executive Officer David Weinstein. The letter contained the following commentary: RENB recently signed a binding letter of intent to acquire Predictive Oncology (NASDAQ: POAI) that will provide with a tremendous company-owned database consisting of 150,000 frozen / live tumor samples, 20 years of drug response data, 40,000 FFPE tissue blocks, 200,000 pathology slides and digital library, and a fully certified CLIA laboratory. RENB plans to commercialize Predictive's clinical support test that assists oncologists in selecting the best therapy for their patients, and deploy their multi-omic AI system for drug discovery known as PEDAL (Patient-centric Discovery by Active Learning), a platform that combines AI technology, drug response data, and a large biobank of tumor samples to predict how different tumors will respond to various drugs. When RENB acquired GEDiCube, the rationale was that these two business segments were synergistic. This remains a core value proposition but for synergies to materialize requires structured collaboration between the two verticals: AI cancer detection and genetically enhanced cancer vaccines. There are two business developments that RENB is pursuing. Identifying a whole genome sequencer that can serve as the front end of RENB point of care cancer detection platform. GEDiCube to deploy its AI/ML analysis to discover more genes and factors that can be deployed in RENB Dendritic Cancer Cell Vaccine (DCCV). Incorporating these new discoveries into RENB patent filings will build shareholder value by ringfencing the DCCV platform and providing the ability to partner or license specific cancer applications. This has the potential to enhance the core three elements RENB infuses into DCCV now, allowing it to become specific for cancer types, and ultimately be available as an off the shelf solution. In the future this could facilitate early cancer detection in a doctor's office followed by the treatment of a patient with our vaccine. To gain exposure for our DCCV and generate business development RENB will be attending the American Association for Cancer Research (AACR), the first and largest cancer research organization, Annual Meeting in April 2025. To make its AI/ML powered early cancer detection tests a reality, RENB requires two vital components: the latest superpods to achieve the speed necessary to run trillions of calculations, and critical data and sample sets. RENB announced in late December 2024, a strategic collaboration with Nebul ( that will provide that power. Additionally, Nebul is focused on healthcare and is ISO certified. The company has received a grant for the Lumina project that aims to deliver an advanced Minimal Residual Disease (MRD) detection platform for non-small cell lung cancer (NSCLC). This project provides RENB with 100 samples for immediate analysis followed by an additional 200 samples as they are generated and provides critical data. For more information on $RENB visit: and Disclosure listed on the CorporateAds website Media Contact Company Name: Renovaro Inc. Contact Person: David Weinstein, CEO Email: Send Email Phone: 732-780-5036 Address: 2080 Century Park East Suite 906 City: Los Angeles State: California Country: United States Website:
