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].
UPDATE - Renovaro Inc. Announces Expedited Trial for 2025 Lawsuit to Enforce Binding Merger Agreement with Predictive Oncology