Renovaro completes first milestone payment for Predictive Oncology deal

Renovaro Biosciences (RENB) has advanced the first tranche of financing to Predictive Oncology (POAI) to initiate the previously announced integration of AI/ML platform technologies, core laboratory capabilities and business development efforts in Europe and the United States. By adding Predictive’s AI-driven drug discovery platform, vast biobank of more than 150,000 patient tumor samples, 200,000 pathology slides and decades of longitudinal drug response data to Renovaro’s multi-disciplinary artificial intelligence, multi-omic and multi-modal data expertise, the combined company will be positioned to commercialize its drug discovery and diagnostic platforms. The current transaction involves issuing each Predictive Oncology shareholder an 18-month $3 Redeemable Preferred share. Predictive Oncology does not intend to discuss or disclose further developments regarding these discussions unless and until its Board of Directors has approved a transaction or otherwise determined that further disclosure is appropriate or required by law.