Predictive Oncology Inc. (NASDAQ:POAI) CEO Raymond F Vennare told investors that the company is focusing on conducting transactions with biopharmaceutical partners and driving the adoption of its proprietary PEDAL drug discovery platform.
“We have consolidated infrastructure, merged assets, reassigned personnel and gained domain expertise, thereby creating operational efficiencies and lowering overhead,” Vennare said in a letter to shareholders,
“In the process of this consolidation and reassessment of all company assets and core competencies, we have identified currently existing opportunities which we believe will significantly broaden our intellectual property portfolio.
“This includes the expansion of our extensive biobank of 150,000 tumor samples, the digitization of an historic library of nearly 200,000 pathology slides, the further development of ongoing inventions and emerging co-development opportunities with strategic partners.”
On its strategic partnerships going forward, specifically its recently announced collaboration with Cvergenx Inc, Vennare said the intent is to leverage PEDAL and machine learning capabilities against the Cvergenx precision genomics radiation therapy platform.
“In so doing, we now have the ability to optimize radiotherapy in a way that may lead to the discovery of medicinal radiosensitizers and radioprotectors and, potentially, to the repurposing of existing compounds or the development of an entirely new class of drugs,” he said.
The full shareholder letter can be found here.
Predictive Oncology is a knowledge-driven company focused on applying artificial intelligence (AI) to the research and development process of personalized cancer therapies, which can lead to better treatments, improved patient outcomes and faster time to market.
Contact the author at emily.jarvie@proactiveinvestors.com
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