Workflow
Renovaro Biosciences (RENB)
icon
Search documents
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]
Renovaro and BioSymetrics Announce Definitive Merger Agreement to Advance AI-Driven Biomarker Discovery and Precision Medicine
Globenewswire· 2025-02-26 18:25
Core Insights - Renovaro Biosciences Inc. has announced a definitive agreement to merge with BioSymetrics to enhance biomarker identification and drug discovery capabilities in precision medicine for cancer and other diseases [1][3][4] Group 1: Merger Details - The merger aims to integrate BioSymetrics' AI-driven Elion platform, which accelerates the discovery of diagnostics and therapeutics by uncovering complex biological relationships [2][4] - The transaction is expected to close in March 2025, pending customary closing conditions and regulatory approvals [5] Group 2: Technological Advancements - BioSymetrics' Phenograph provides a translational engine that maps clinical signals to therapeutic targets, improving target and biomarker identification [2] - The combined entity will leverage advanced AI in vivo modeling and machine vision systems for high throughput phenotypic screening, enhancing research efficiency [2][4] Group 3: Strategic Goals - The merger is positioned as a pivotal step in advancing precision medicine and improving patient outcomes through enhanced diagnostic capabilities and therapeutic interventions [3][4] - The collaboration emphasizes a commitment to harnessing AI and data-driven approaches to accelerate the journey from discovery to clinical application [4]
Renovaro Announces $15 million in Equity Committed
Globenewswire· 2025-02-26 14:15
Group 1 - Renovaro Inc. has secured $15 million in additional equity at a price of $1.00 per share, along with a privately placed cash warrant exercisable at $1.50 with a one-year term [1] - The CEO of Renovaro, David Weinstein, stated that the new capital will enable the company to accelerate its focus on revolutionizing healthcare through advanced diagnostics and personalized immunotherapy [2] - Renovaro aims to enhance precision and personalized medicine for longevity by integrating AI and biotechnology platforms for early diagnosis, targeted treatments, and drug discovery [2] Group 2 - Renovaro includes RenovaroBio, which specializes in advanced cell-gene immunotherapy, and RenovaroCube, which utilizes AI for multi-omic diagnostics and drug development [2]
Renovaro Biosciences (RENB) - 2025 Q2 - Quarterly Report
2025-02-19 21:02
Company Focus and Strategy - Renovaro Inc. has shifted its primary focus to the development of Renovaro Cube technologies following the acquisition of GEDi Cube Intl Ltd. on February 13, 2024[122][123]. - Renovaro Biosciences aims to develop advanced allogeneic cell and gene therapies for long-term cancer remission and treatment of serious infectious diseases, contingent on obtaining necessary funding[123][124]. - The company is actively pursuing partnerships with leading academic cancer centers and pathology centers to enhance multi-omic and multi-modal capacity[157]. - The company intends to commercialize products and test kits for healthcare providers to expedite cancer diagnosis and treatment selection[160]. - The company has streamlined its organization to focus on the development and validation of its AI-driven cancer diagnostics platform[172]. Technology and Product Development - The allogeneic cell therapy platform has completed the pre-IND and IND-enabling phase, focusing on genetically modified dendritic cell therapeutic vaccines for solid tumors[128]. - Renovaro Cube's proprietary AI platform utilizes a multi-omics approach to enhance early cancer detection and diagnosis, targeting biomarkers even in asymptomatic patients[133][134]. - The company is developing multi-cancer early detection (MCED) blood tests to identify abnormal genetic patterns indicative of cancer, potentially improving early detection rates[138]. - Renovaro Cube plans to expand its diagnostic tests and test kits for non-invasive liquid biopsy samples across Europe and the United States[141]. - The AI technology developed by Renovaro Cube aims to enhance the accuracy and sensitivity of early cancer detection, facilitating earlier intervention and improved patient outcomes[142]. - Renovaro Cube's product development strategy includes a focus on recurrence detection, treatment response prediction, and support for clinical trials through patient cohort selection[139]. - The company intends to leverage multi-modal data analysis to provide insights into disease characterization and improve diagnostic accuracy[140]. - The AI platform includes Explainable AI features, ensuring transparency and traceability in its diagnostic processes[165]. - Renovaro Cube's AI technology aims to provide non-invasive alternatives for complex cancer detection procedures, focusing on multi-omics data[27]. Financial Performance and Position - The company incurred a net loss of $7,252,394 and $51,464,429 for the three and six months ended December 31, 2024, respectively[171]. - As of December 31, 2024, the company had cash and cash equivalents of $311,764 and an accumulated deficit of $383,919,510[171]. - Operating expenses for the three months ended December 31, 2024, were $4,546,316, an increase of 6% compared to $4,270,075 in 2023[178]. - General and administrative expenses for the three months ended December 31, 2024, were $4,353,123, reflecting a 20% increase from $3,616,392 in 2023[180]. - Research and development expenses for the three months ended December 31, 2024, decreased by 74% to $161,084 from $620,521 in 2023[182]. - The net loss for the three months ended December 31, 2024, was $7,252,394, representing a 60% increase from $4,529,121 in 2023[186]. - Total assets decreased to $111,340,272 as of December 31, 2024, from $163,129,450 as of June 30, 2024, primarily due to goodwill impairment of $47,614,729[191]. - The company had a working capital deficit of $26,898,493 as of December 31, 2024, compared to $28,312,274 as of June 30, 2024, a decrease of 5%[190]. - Cash used in operating activities for the six months ended December 31, 2024, was $4,576,052, a decrease from $5,923,830 in 2023[192]. - The company recorded other income of $6,420,440 for the six months ended December 31, 2024, compared to other expense of $549,960 in 2023, a change of 1,267%[185]. - The company anticipates needing additional funds for research and development, personnel increases, and technology development in the next twelve months[189]. - As of December 31, 2024, the company had $311,764 in cash, an increase from $220,467 as of June 30, 2024[190]. Future Outlook and Challenges - The company is dependent on additional financing to fund operations, raising substantial doubt about its ability to continue as a going concern[171]. - The company aims to validate its biomarker panels through collaboration with clinical partners in real-world settings[155]. - The company plans to hire additional staff to accelerate the development of its AI platform and infrastructure[158].