Precision Therapeutics Forms TumorGenesis Inc. Subsidiary to Focus on the Next Generation of Patient Derived Tumor Models
The Company formed
Unlike the current PDx animal models that grow the tumor in a mouse or rat, the TumorGenesis approach is faster, less costly and more closely mimics the characteristics of the patient’s tumor. The PDx models using mice are also limited in the number of combinations of dosing, drug combinations, and cost. Furthermore, the jury is still out on how useful it is to grow tumor cells in a mouse or rat environment. In contrast, TumorGenesis offers an external structured environment combining chemistry, biology, mechanics and cell nutrients to fool the cancer cells into growing as closely as possible to the environment inside the human body.
TumorGenesis’ innovative approach is comprised of three key steps; first, the tumor cells from the patient tumor biopsy are tagged using peptides targeted to the patient’s specific cancer cells (e.g. ovarian); second, the tags are used to adhere the cells to a 3D biomimetic support in the well of a standard 96 well microplate; and third, the tumor cells are grown in the 3D culture system until ready for testing.
“Traditional PDx mouse models are currently used for personalized therapy decisions and by pharma companies for developing new drugs within a cancer drug market expected to be worth approximately
The TumorGenesis PDx model will initially be developed for three orphan cancers, Multiple Myeloma, Triple-Negative Breast cancer (TNBC) and Ovarian cancers, all of which are areas that have a high unmet need for new and effective treatments that are tailored to patients’ unique tumor profiles.
Sold through the Skyline Medical business of
Certain of the matters discussed in this announcement contain forward-looking statements that involve material risks to and uncertainties in the Company's business that may cause actual results to differ materially from those anticipated by the statements made herein. Such risks and uncertainties include risks related to the proposed joint ventures, including the need to negotiate the definitive agreements for the joint ventures; possible failure to realize anticipated benefits of the joint ventures; and costs of providing funding to the joint ventures. Other risks and uncertainties relating to the Company include, among other things, current negative operating cash flows and a need for additional funding to finance our operating plan; the terms of any further financing, which may be highly dilutive and may include onerous terms; unexpected costs and operating deficits, and lower than expected sales and revenues; sales cycles that can be longer than expected, resulting in delays in projected sales or failure to make such sales; uncertain willingness and ability of customers to adopt new technologies and other factors that may affect further market acceptance, if our product is not accepted by our potential customers, it is unlikely that we will ever become profitable; adverse economic conditions; adverse results of any legal proceedings; the volatility of our operating results and financial condition; inability to attract or retain qualified senior management personnel, including sales and marketing personnel; our ability to establish and maintain the proprietary nature of our technology through the patent process, as well as our ability to possibly license from others patents and patent applications necessary to develop products; the Company's ability to implement its long range business plan for various applications of its technology; the Company's ability to enter into agreements with any necessary marketing and/or distribution partners and with any strategic or joint venture partners; the impact of competition, the obtaining and maintenance of any necessary regulatory clearances applicable to applications of the Company's technology; and management of growth and other risks and uncertainties that may be detailed from time to time in the Company's reports filed with the
Source: Precision Therapeutics Inc.