Precision Therapeutics’ Subsidiary, Helomics® Corporation, and SpeciCare, Inc. to Study Innovative Personalized Medicine Opportunities for Cancer Patients
“SpeciCare is at the forefront of a renewed interest in functional precision medicine, which has been core to our personalized oncology approach for many years. We are excited to work with SpeciCare on their PIONEER initiative study, which will utilize Helomics’ core functional precision medicine technology of live tumor drug profiling assays (TruTumor™) and genomic profiling coupled with our AI-driven bioinformatics platform, D-CHIP,” commented
Functional precision medicine goes beyond pure genomics to test live tumor tissue from the patient with a variety of approaches that interrogate how the tumor behaves, such as when challenged with potential therapies. Traditional genomics-only approaches often do not provide clinically actionable results outside of a handful of approved genomic biomarkers and associated drugs, limiting clinicians’ options for individualizing therapy.
“We continue to enable AI and data-driven precision medicine and welcome the opportunity to provide CRO services to SpeciCare,” said Dr.
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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
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Source: Precision Therapeutics Inc.