Precision Therapeutics’ Subsidiary Helomics and National Alopecia Areata Foundation Sign Services Agreement to Provide Next-Generation Patient Registry for Alopecia Areata Research
“This agreement will provide NAAF with the ability to store, process and analyze specimens under one roof and in a CLIA regulated setting,” said
Helomics will leverage its CRO and Biorepository services offering to provide state of the art storage, processing and analysis of samples from patients with alopecia areata who newly enroll with the NAAF registry, as well as storing samples from the existing registry. The registry was originally established in 2000 by a collaborative group of five experienced hair disease investigators and supported for 12 years by the
Dory Kranz, president and CEO of NAAF added, “Achieving better outcomes for people with alopecia areata is a key part of the mission of NAAF and working with Helomics to provide this registry to our researchers is a key step. We are hopeful that in the future, applying Helomics’ AI and machine learning capabilities to the valuable data and samples we collect, will lead to a better understanding and improved treatments for alopecia areata, and other autoimmune diseases. All parties are excited about building on this valuable resource.”
“Agreements such as this one with NAAF further validate the Helomics boutique CRO services business and our D-CHIP AI-driven platform. We are enthusiastic about the opportunity to serve the alopecia areata community and look forward to a long term and impactful partnership,” concluded Dr.
Certain of the matters discussed in the press release 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 (i) risks related to the recent merger with Helomics, including the fact that the combined company will not be able to continue operating without additional financing; possible failure to realize anticipated benefits of the merger; costs associated with the merger may be higher than expected; the merger may result in disruption of the Company’s and Helomics’ existing businesses, distraction of management and diversion of resources; and the market price of the Company’s common stock may decline as a result of the merger; (ii) risks related to our partnerships with other companies, including the need to negotiate the definitive agreements; possible failure to realize anticipated benefits of these partnerships; and costs of providing funding to our partner companies, which may never be repaid or provide anticipated returns; and (iii) other risks and uncertainties relating to the Company that 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; Precision’s ability to implement its long range business plan for various applications of its technology; Precision’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 Precision’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 SEC, which are available for review at www.sec.gov. This is not a solicitation to buy or sell securities and does not purport to be an analysis of Precision’s financial position. See Precision’s most recent Annual Report on Form 10-K, and subsequent reports and other filings at www.sec.gov.
Investor Relations Contact:
Bret Shapiro, Managing Partner
Source: Precision Therapeutics Inc.