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Renovaro Secures Key U.S. Patent to Strengthen AI-Driven Drug Discovery and Diagnostics Platform
Globenewswire· 2025-06-03 13:15
Core Insights - Renovaro Inc. has received a Notice of Allowance for a new patent that enhances its AI and machine learning capabilities in drug discovery [1][2] - The patent focuses on integrating diverse biomedical data sources into a standardized framework for predictive modeling, addressing a critical need in the biopharma industry [2][4] - This development is seen as a strategic milestone for Renovaro, reinforcing its position in the growing market for data-driven therapeutics [3][4] Company Overview - Renovaro aims to accelerate precision and personalized medicine through AI and biotechnology platforms, focusing on early diagnosis and targeted treatments [5] - The company includes subsidiaries such as RenovaroBio, which specializes in cell-gene immunotherapy, and RenovaroCube, which leverages AI for multi-omic diagnostics [5] Patent Details - The new patent introduces methods for real-time, reproducible predictive analytics across distributed computing environments, essential for improving efficiency in biopharma [4][7] - This patent builds on a previously granted patent that protects machine learning pipeline optimization, enhancing Renovaro's foundational intellectual property [7] Market Implications - The patent addresses the integration of siloed and heterogeneous data, a significant challenge in pharmaceutical R&D and clinical practice [7] - It enhances Renovaro's commercial potential by enabling scalable biomedical analytics across various applications, including rare diseases and personalized medicine [7]
UPDATE - Renovaro Inc. Announces Expedited Trial for 2025 Lawsuit to Enforce Binding Merger Agreement with Predictive Oncology
Globenewswire· 2025-05-22 19:12
Core Viewpoint - Renovaro Inc. has initiated legal action against Predictive Oncology Inc. to enforce a merger agreement, alleging breaches of contract and seeking specific performance and damages [1][4]. Group 1: Legal Proceedings - Renovaro filed a lawsuit on May 9, 2025, in the Delaware Court of Chancery against Predictive Oncology to enforce a merger agreement executed on January 1, 2025 [1]. - The court has ruled to expedite the trial for this lawsuit, which is pending under Case No. 2025-0509 [4]. - Renovaro claims that Predictive Oncology breached the agreement by conducting a public offering of $545,000 in securities on February 19, 2025, and later attempted to unilaterally terminate the agreement on April 3, 2025 [3]. Group 2: Financial Impact - Following the public disclosure of the merger agreement on January 6, 2025, Predictive Oncology's stock price increased by over 50% [2]. - The litigation seeks specific performance, injunctive relief, and damages for the alleged breaches, indicating potential financial implications for both companies [4]. Group 3: Company Background - Renovaro Inc. focuses on next-generation diagnostics, drug discovery, and genetically enhanced cancer therapies, aiming to accelerate precision and personalized medicine [5]. - The company includes subsidiaries such as RenovaroBio, which specializes in advanced cell-gene immunotherapy, and RenovaroCube, leveraging AI for diagnostics and drug development [5].
Renovaro Inc. Announces Expedited Trail for 2025 Lawsuit to Enforce Binding Merger Agreement with Predictive Oncology
Globenewswire· 2025-05-22 15:05
Core Viewpoint - Renovaro Inc. has initiated legal action against Predictive Oncology Inc. to enforce a merger agreement, alleging breaches of contract and seeking specific performance and damages [1][4]. Group 1: Legal Proceedings - Renovaro filed a lawsuit on May 9, 2025, in the Delaware Court of Chancery against Predictive Oncology to enforce a merger agreement executed on January 1, 2025 [1]. - The court has ruled to expedite the trial for this lawsuit, which is pending under Case No. 2025-0509 [4]. - Renovaro claims that Predictive Oncology breached the agreement by conducting a public offering of $545,000 in securities on February 19, 2025, and later attempted to unilaterally terminate the agreement [3]. Group 2: Financial Impact - Following the public disclosure of the merger agreement on January 6, 2025, Predictive Oncology's stock price increased by over 50% [2]. - The litigation seeks specific performance, injunctive relief, and damages for the alleged breaches, indicating potential financial implications for both companies [4]. Group 3: Company Background - Renovaro Inc. focuses on next-generation diagnostics, drug discovery, and genetically enhanced cancer therapies, aiming to accelerate precision and personalized medicine [5]. - The company includes subsidiaries such as RenovaroBio, which specializes in advanced cell-gene immunotherapy, and RenovaroCube, leveraging AI for diagnostics and drug development [5].
Renovaro Biosciences (RENB) - 2025 Q3 - Quarterly Report
2025-05-15 20:31
Company Focus and Technology Development - Renovaro Inc. focuses on developing advanced allogeneic cell and gene therapies for long-term cancer remission and serious infectious diseases, contingent on obtaining necessary funding[126]. - The acquisition of GEDi Cube Intl. Ltd. on February 13, 2024, has shifted the company's primary focus to Renovaro Cube technologies[126]. - Renovaro Cube's AI platform utilizes a multi-omics approach to analyze genetics for early cancer detection, aiming to identify biomarkers even in asymptomatic patients[136]. - The company is developing multi-cancer early detection (MCED) blood tests to analyze cell-derived molecules for early-stage cancer detection[141]. - Renovaro Cube aims to assist in clinical trials by providing multi-omic data analysis to track patient responses and optimize patient cohort selection[142]. - The company plans to expand its diagnostic tests and test kits for non-invasive liquid biopsy samples across Europe and the United States[144]. - Renovaro Cube's technology is designed to enhance the accuracy and sensitivity of early cancer detection, potentially improving patient outcomes[145]. - The allogeneic cell therapy platform has completed the pre-IND and IND-enabling phase, focusing on long-term remission of solid tumors[131]. - Renovaro Biosciences is developing genetically modified dendritic cell therapeutic vaccines targeting pancreatic tumors and triple-negative breast cancer[133][134]. - The company aims to leverage AI technologies to provide insights into disease characterization and improve treatment protocols for cancer and other diseases[143]. - Renovaro Cube's AI technology focuses on cancer diagnosis, providing insights for effective recurrence monitoring and utilizing blood sequencing to detect cancer recurrence[146]. - The company aims to enhance biomarker panels by incorporating multi-omics data, targeting high accuracy in sensitivity and specificity for cancer detection[146]. - Renovaro Cube has identified biomarker panels for various cancers, including bladder, breast, and lung cancer, leveraging DNA methylation data[148]. - The AI platform supports comprehensive pan-cancer analysis, enabling swift cross-referencing of biomarkers across multiple tumor types[149]. Financial Performance and Concerns - The company has incurred a net loss of $51,275,253 for the nine months ended March 31, 2025, with an accumulated deficit of $383,730,334[173]. - As of March 31, 2025, Renovaro Cube had cash and cash equivalents of $923,002 and a working capital deficit of $25,173,586, raising concerns about its ability to continue as a going concern[173]. - Operating expenses for the three months ended March 31, 2025, decreased by $47,218,348 or approximately 92% compared to the same period in 2024, primarily due to a reduction in intangible asset impairment and general and administrative expenses[179]. - General and administrative expenses for the three months ended March 31, 2025, were $4,224,590, a decrease of $3,427,789 or approximately 45% from $7,652,379 in 2024[181]. - Research and development expenses for the three months ended March 31, 2025, were $(94,073), representing a decrease of $1,181,229 or approximately 109% compared to $1,087,156 in 2024[183]. - Net income for the three months ended March 31, 2025, was $189,176, a change of $59,179,246 or approximately 100% from a net loss of $(58,990,070) in 2024[187]. - Total assets as of March 31, 2025, were $117,726,120, a decrease from $163,129,450 as of June 30, 2024, primarily due to goodwill impairment of $47,614,729[192]. - Total liabilities as of March 31, 2025, were $29,339,269, a decrease from $31,152,306 as of June 30, 2024, mainly due to a reduction in contingent consideration liability[193]. - Cash used in operating activities for the nine months ended March 31, 2025, was $(6,063,511), compared to $(8,557,649) in 2024, indicating improved cash flow management[194]. - Cash provided by financing activities during the nine months ended March 31, 2025, was $8,204,415, primarily from the issuance of notes payable and private placements[197]. - The company had a working capital deficit of $25,173,586 as of March 31, 2025, compared to a deficit of $28,312,274 as of June 30, 2024, reflecting a decrease of 22%[191]. - The company has historically relied on funding from stockholders and debt financing, with no revenue generated to support operations until product approvals are obtained[189]. Future Plans and Partnerships - Renovaro Cube is actively pursuing partnerships with academic cancer centers and pathology centers to validate its multi-omic capabilities using liquid biopsies[157]. - The company plans to hire additional staff and build infrastructure to support the development and commercialization of its AI platform[160]. - Renovaro Cube's AI platform includes Explainable AI features, ensuring traceability and transparency in its diagnostic processes[168]. - The company intends to secure additional funding through equity or debt financing to support its operations and product commercialization[174].
Renovaro Launches Augusta, an AI-Powered Precision Neurology Platform
Globenewswire· 2025-05-14 13:15
Core Insights - Renovaro Inc. has launched Augusta, a Precision Neurology Platform aimed at improving patient stratification, biomarker discovery, and drug validation in neurology, an area that has historically faced challenges in diagnosis and treatment [1][2] Group 1: Platform Features - Augusta integrates multimodal data analytics with proprietary in silico screening, significantly reducing the time required for identifying biomarkers and therapeutics compared to conventional methods [1] - The platform emphasizes interpretability, clinical alignment, and rigorous benchmarking, moving away from black-box approaches [2] - Its modular infrastructure allows for plug-and-play model evaluation, including large language models conditioned with proprietary knowledge graphs, fostering continuous innovation while ensuring clinical robustness [2] Group 2: Validation and Efficacy - The efficacy of Augusta has been demonstrated in Parkinson's Disease through phenoclustering, which identified novel patient subgroups with unique clinical characteristics and biomarkers [3] - In epilepsy, the platform has successfully identified novel lead compounds targeting patient populations with rare genetic mutations [3] Group 3: Future Plans - Renovaro plans to expand its precision neurology efforts into additional neurological disorders and is currently discussing strategic partnerships with academic medical centers and life sciences companies [4] Group 4: Company Overview - Renovaro aims to accelerate precision and personalized medicine for longevity by leveraging AI and biotechnology platforms for early diagnosis, targeted treatments, and drug discovery [5]
Renovaro and Amsterdam University Medical Center Announce Exclusive Collaboration to Advance Blood Platelet RNA Diagnostics
Globenewswire· 2025-05-13 13:15
Core Insights - Renovaro Inc. has entered into an exclusive collaboration with Amsterdam University Medical Center to develop blood platelet RNA diagnostics, marking a significant advancement in disease detection and monitoring [1][4] - The collaboration aims to utilize AI and machine learning to identify disease-specific signals from blood samples, enhancing diagnostic and prognostic capabilities across various cancer types [2][3] Group 1: Collaboration Details - The partnership will focus on evaluating the clinical utility of blood platelet RNA signatures as biomarkers, leveraging Renovaro's AI/ML capabilities and new compute resources from Nebul [2] - The agreement includes a commitment to jointly manage intellectual property and plans to establish a dedicated company in the Netherlands for further development and commercialization of the diagnostics [4] - The initial term of the collaboration is set for four years, with potential for extension by mutual agreement [5] Group 2: Company Background - Renovaro Inc. is a leader in TechBio, focusing on next-generation diagnostics, drug discovery, and genetically enhanced cancer therapies [1] - Amsterdam UMC is recognized for its high-quality patient care, innovative research, and education, emphasizing the treatment of complex and rare disorders [6] - Renovaro aims to accelerate precision and personalized medicine through AI and biotechnology platforms, including its subsidiaries focused on immunotherapy and multi-omic diagnostics [7]
Renovaro Secures High-Powered Computing from Nebul Through a Partnership to Accelerate Next-Generation Biomarker Discovery and Diagnostic Programs
Newsfilter· 2025-04-22 13:20
Core Insights - Renovaro Inc. is expanding its strategic collaboration with Nebul to enhance early detection of cancer and other diseases through AI-driven precision medicine [1][2] - The partnership will utilize Renovaro's deep learning and machine learning programs alongside Nebul's high-performance computing capabilities to accelerate biomarker discovery and diagnostics [1][2] Company Overview - Renovaro Inc. focuses on precision and personalized medicine, leveraging AI and biotechnology for early diagnosis, targeted treatments, and drug discovery [4] - The company includes divisions such as RenovaroBio, which specializes in cell-gene immunotherapy, and RenovaroCube, which utilizes AI for multi-omic diagnostics and drug development [4] Partnership Details - The collaboration with Nebul aims to develop an improved diagnostic test for lung cancer that can detect minimal residual disease (MRD), which is crucial for preventing patient relapse [2] - Nebul's data centers will provide the necessary high-performance computing power, secure infrastructure, and scalability for Renovaro's deep learning AI models [2] Nebul Overview - Nebul offers a European private AI cloud that combines enterprise-class capabilities with the scalability of global hyper-scalers, ensuring secure processing of healthcare data [3] - The company has achieved certifications such as NEN 7510 and ISO 27001, demonstrating compliance with stringent standards for data security in healthcare applications [3]
Renovaro and BioSymetrics Close Merger to Accelerate AI-Driven Biomarker Discovery and Precision Medicine
Globenewswire· 2025-04-09 13:25
Core Viewpoint - The merger between Renovaro Biosciences Inc. and BioSymetrics aims to enhance advanced AI-driven drug development and expand precision medicine applications in oncology and neurology [1][4]. Group 1: Merger Details - Renovaro completed its merger with BioSymetrics on April 8, 2025, to strengthen its capabilities in data repository and biomarker discovery [2][1]. - The merger integrates BioSymetrics' Elion platform, which utilizes AI and machine learning to accelerate the discovery of diagnostics and therapeutics [3][4]. Group 2: Technological Synergy - BioSymetrics' Phenograph and advanced in vivo modeling systems are designed to improve target and biomarker identification, enabling patient stratification and drug repurposing [3][4]. - The combined company aims to streamline the translation of biomarker insights into accelerated drug discovery timelines, enhancing research efficiency [3][5]. Group 3: Strategic Goals - The merger is expected to enhance Renovaro's ability to identify new therapeutic targets and validate diagnostics, particularly in oncology and neurology [4][5]. - The focus will be on integrating AI-powered biomarker discovery with innovative drug development to improve patient outcomes globally [5].
Renovaro Provides Update to Definitive Agreement with Predictive Oncology
Globenewswire· 2025-04-04 13:40
Core Viewpoint - Renovaro Biosciences Inc. is facing a significant challenge following the termination of its merger agreement with Predictive Oncology, which the company claims is in breach of their binding agreements [2] Group 1: Company Overview - Renovaro Biosciences Inc. is a leader in TechBio, focusing on next-generation diagnostics, drug discovery, and genetically enhanced cancer therapies [1] - The company aims to accelerate precision and personalized medicine through AI and biotechnology platforms for early diagnosis and targeted treatments [3] Group 2: Merger Agreement Details - Renovaro entered into a binding merger agreement with Predictive Oncology on January 1, 2025, which was supplemented by an Extension Agreement on February 28, 2025 [2] - On April 3, 2025, Predictive Oncology terminated the merger transaction, leading Renovaro to assert that Predictive Oncology must comply with the binding obligations and enter into an exclusive License Agreement [2] Group 3: Legal Actions - Renovaro claims that the breach by Predictive Oncology has caused substantial damage, and the company will seek legal remedies if an exclusive License Agreement is not established by April 10, 2025 [2]
Renovaro Completes First Milestone Payment to Finalize Definitive Agreement with Predictive Oncology
Globenewswire· 2025-03-03 14:15
Core Insights - Renovaro Biosciences Inc. has initiated the first tranche of financing to Predictive Oncology, Inc. to integrate AI/ML platform technologies and core laboratory capabilities in Europe and the United States [1][3] - The merger with Predictive Oncology and BioSymetrics significantly enhances Renovaro's capabilities in biomarker and drug discovery, particularly in oncology [1][2] Company Developments - The combined entity will leverage Predictive's AI-driven drug discovery platform, which includes a biobank of over 150,000 patient tumor samples and 200,000 pathology slides, to commercialize drug discovery and diagnostic platforms [2][4] - Renovaro has committed an additional $15 million in equity to accelerate its focus on revolutionizing healthcare through advanced diagnostics and drug discovery [3] Strategic Goals - The integration aims to create a comprehensive AI stack and an end-to-end solution for biomarker discovery and validation for precision medicine [3] - The transaction involves issuing an 18-month $3 Redeemable Preferred share to each Predictive Oncology shareholder, with further developments to be disclosed upon Board approval [3] Industry Context - Predictive Oncology is at the forefront of using AI and machine learning for early biomarker and drug discovery, with a scientifically validated platform that predicts drug response with 92% accuracy [4] - The company offers one of the industry's broadest AI-based drug discovery solutions, supported by its CLIA lab and GMP facilities [4][5]