Pittsburgh-based Predictive Oncology, a company using artificial intelligence (AI) and machine learning (ML) to expedite early biomarker and drug discovery to enable drug development, recently received its first tranche of financing from California-based Renovaro Biosciences, a company that aims to accelerate precision and personalized medicine for longevity.
Predictive Oncology will use funding to begin the integration of AI/ML platform technologies, core laboratory capabilities and business development efforts in the United States and Europe.
“Since we first announced our intentions to merge with Renovaro Biosciences in January, Predictive and Renovaro have worked diligently to thoroughly evaluate the expanded market opportunities created by this merger,” Raymond Vennare, Predictive Oncology chairman and CEO, said. “Renovaro’s recent acquisition of BioSymetrics, together with our ability to launch ChemoFx in Europe, represent significant steps forward in these efforts.”
Predictive Oncology will not disclose any additional information until the board of directors approves the transaction or details must be disclosed as appropriate or required by law.
Renovaro Group includes RenovaroBio, an advanced cell-gene immunotherapy company, and Renovaro Cube, a molecular data science company. Renovaro Cube developed an AI platform that detects cancer early and its recurrence and monitors subsequent treatments.
Predictive Oncology has a biobank of more than 150,000 patient tumor samples.