Renovaro to acquire Predictive Oncology in all-stock transaction

Renovaro (RENB) announced it has entered into a binding LOI to acquire Predictive Oncology (POAI) in an all-stock transaction.By leveraging Predictive Oncology’s extensive biobank of 150,000 tumor samples, Renovaro gains an invaluable resource to accelerate biomarker discovery, clinical trial optimization and clinical decision support tools across multiple cancer types. The combined organization will have a state-of-the-art CLIA, NYSDOH, and CA-certified laboratory staffed by a highly experienced team. Infrastructure streamlines Renovaro’s development, validation, and rollout of new diagnostic tests in Europe, improving speed to market and expanding global reach. Introduces novel in vivo chemosensitivity and resistance assay for predicting patient response to cancer chemotherapy to the European markets. Enables the company to collaborate across multi-omic platforms for drug discovery. Predictive Oncology announced on November 13, 2024, that the company’s Board of Directors, working with a strategic advisor, had initiated a process to evaluate a broad range of strategic alternatives intended to maximize shareholder value and issued an update on December 3, 2024, stating the Company was engaged in productive discussions with multiple interested parties and looked forward to the timely completion of this process.Renovaro will acquire 100% of Predictive Oncology common shares through the issuance of Preferred stock.