Skyline Medical Announces Two Proposed Joint Ventures and New Strategic Focus on CRO Services
“The joint ventures with Helomics and CytoBioscience, and our anticipated expansion in the CRO Services space, represent a major opportunity for Skyline,” commented Dr.
Helomics Proposed Joint Venture
The proposed joint venture with Helomics, a precision diagnostic company and integrated clinical contract research organization, will leverage the Helomics D-CHIP™ platform to develop and market new approaches for personalized cancer diagnosis and care. This follows a strategic collaboration between Helomics and Skyline announced on
Dr. Schwartz continued, “The joint venture with Helomics is a unique opportunity to diversify into the precision medicine space. Helomics’s D-CHIP platform contains an extensive, searchable knowledge base of clinical and molecular data on patients with cancer and, with its ability to provide actionable data to drive both the targeting of current therapies to patients and the development of new drugs, is firmly at the cutting edge of bioinformatics / AI in precision medicine. In addition its specialty contract research services offers data-driven approaches to pharmaceutical and diagnostic companies that are developing the next generation of personalized drugs. We see significant potential to leverage this opportunity to diversify and grow revenues to advance Skyline’s long-term growth prospects.”
CytoBioscience Proposed Joint Venture
The proposed joint venture with CytoBioscience, a privately held biomedical company, will provide Skyline with access to CytoBioscience’ personalized research services and will further expand the Company’s expertise and client base in the expanding services sector. The merger agreement between the two companies that was announced on
Dr. Schwartz commented on the proposed partnership, “We remain committed to pursuing a collaboration with CytoBioscience and believe forming a joint venture, rather than a merger, will not only significantly expedite the process but will allow us to leverage its client base and partners in the healthcare sector while maintaining tighter control over costs. The potential business synergies between Helomics and CytoBioscience in the field of personalized medicine are extremely encouraging and partnering with both companies will enable us to position Skyline as a leading player in this field.”
Helomics® is a precision diagnostic company and integrated clinical contract research organization whose mission is to improve patient care by partnering with pharmaceutical, diagnostic, and academic organizations to bring innovative clinical products and technologies to the marketplace. In addition to its proprietary precision diagnostics for oncology, Helomics offers boutique CRO services that leverage our patient-derived tumor models, coupled to a wide range of multi-omics assays (genomics, proteomics and biochemical), and a proprietary bioinformatics platform (D-CHIP) to provide a tailored solution to our client’s specific needs.
Helomics® is headquartered in
For more information, please visit: www.Helomics.com.
CytoBioscience creates and manufactures devices that represent a convergence of bioscience, nanoscience, microchip development, algorithms and engineering. The company's devices allow researchers, medical institutions and pharmaceutical companies to better understand how human cells react to medicine. CytoBioscience has a world renowned scientific and technical staff, collaborative partnerships with leading pharmaceutical companies and strategic alliances with key groups and academic institutions, and its technology is used exclusively by the FDA. The company was founded in
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; 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: Skyline Medical Inc.