Drug Repurposing
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Fifty 1 Labs Inc. Signs Letter of Intent to Acquire BioSpark AI Technologies Inc.
Globenewswire· 2025-09-30 13:56
Core Insights - Fifty 1 Labs Inc. has signed a Letter of Intent to acquire BioSpark AI Technologies Inc., enhancing its position in AI-driven healthcare innovation [1][2] - The acquisition aims to integrate BioSpark's proprietary AI technology for clinical data analytics, which includes a large language model and key intellectual property [2][4] - This strategic move is expected to drive value for shareholders and improve patient outcomes through advanced therapeutic development [2][4] Acquisition Details - Fifty 1 Labs intends to acquire 100% of BioSpark's outstanding equity interests, including all assets and proprietary technologies [2] - The transaction includes a contingent payment of 25 million common shares, contingent upon BioSpark achieving a revenue-based valuation milestone of $25 million [2] - The acquisition aligns with Fifty 1 Labs' focus on delivering transformative AI solutions in the healthcare sector [2][4] Collaboration History - Fifty 1 Labs and BioSpark have a successful history of collaboration, particularly in drug repurposing using BioSpark's AI tools [3] - Their partnership has led to the identification of over 2,000 real-world treatment pathways, accelerating innovation in functional medicine [3] - This collaboration underscores the potential of BioSpark's technology to enhance Fifty 1 Labs' vision for AI-driven healthcare [3] Strategic Vision - The CEO of Fifty 1 Labs emphasized that the acquisition represents a pivotal step in redefining healthcare through AI [4] - The company aims to fully integrate BioSpark's capabilities to position itself as a leader in the growing AI-healthcare market [4] - The acquisition is expected to target opportunities in multi-billion-dollar markets such as drug repurposing and personalized medicine [4]
Predictive Oncology and Every Cure Announce a Strategic Collaboration to Pursue Drug Repurposing for Cancer Patients
Globenewswire· 2025-09-04 13:00
Core Insights - Predictive Oncology Inc. and Every Cure have announced a strategic collaboration aimed at identifying and prioritizing existing drugs for repurposing to enhance patient outcomes and save lives [1][4] - The collaboration leverages AI-driven platforms and extensive biobanks to accelerate drug repurposing efforts, particularly for patients with cancer and other diseases lacking approved treatments [3][8] Group 1: Company Overview - Predictive Oncology is a leader in AI-driven drug development, utilizing machine learning to predict patient responses to anti-cancer therapies [2][8] - The company has a biobank of over 150,000 tumor samples across more than 130 cancer types, which supports its drug discovery and development processes [5][8] - Every Cure is a nonprofit organization focused on repurposing existing drugs to treat diseases, aiming to deliver treatments quickly and cost-effectively [3][6] Group 2: Collaboration Details - The partnership aims to combine the AI capabilities of both organizations to overcome barriers in drug repurposing and improve healthcare accessibility [4][5] - Every Cure's AI models utilize knowledge graphs and real-world medical data to identify potential drug-disease connections, which are then evaluated for safety and efficacy [5] - Predictive Oncology's platform has demonstrated a 92% accuracy in predicting tumor responses to drugs, enhancing the selection process for drug testing [8]
CDT Equity Identifies New Biological Target Validating AI-Driven Repurposing Strategy
Globenewswire· 2025-08-26 12:30
Core Insights - CDT Equity Inc. has identified a new biological target and therapeutic indication for its lead programme AZD1656, supported by positive pre-clinical trial data, affirming its AI-led drug repurposing strategy [1][3][4] - The company, in collaboration with Sarborg, utilized AI-powered disease mapping to analyze AZD1656 against a database of over 800 disease signatures, uncovering several new therapeutic indications [2][4] - The initial pre-clinical study results have validated the algorithmic findings, leading to plans for further studies to explore the commercial potential of the new biological target [3][4] Company Strategy - CDT has transitioned to a lean, disease-agnostic operating model informed by data-driven insights, successfully identifying novel indications for AZD1656 [4] - The company aims to progress AZD1656 towards a commercial out-licensing opportunity based on the positive outcomes of its research [4] Research and Development - Several pre-clinical studies have been initiated to explore the potential of AZD1656 in previously untapped therapeutic areas, leveraging a robust patent portfolio [2][3]
Predictive Oncology Reports Second Quarter 2025 Financial Results and Provides Corporate Update
Globenewswire· 2025-08-14 11:00
Core Viewpoint - Predictive Oncology reported a loss from continuing operations of approximately $2.0 million for Q2 2025, while focusing on advancing its AI-driven drug discovery and expanding its ChemoFx assay in the U.S. and Europe [1][3]. Financial Summary - The company concluded Q2 2025 with cash and cash equivalents of $506,078, down from $611,822 as of December 31, 2024 [4]. - Revenue for Q2 2025 was $2,682, a significant decrease from $67,255 in Q2 2024, primarily due to reduced sales of tumor-specific 3D models and kits [10]. - General and administrative expenses increased to $1,875,655 in Q2 2025 from $1,825,174 in Q2 2024, mainly due to higher legal fees [10]. - The company raised approximately $586,000 in gross proceeds during the quarter through private placements and its At-the-Market facility [6]. Operational Highlights - The company is preparing for an aggressive market expansion of its ChemoFx assay in the U.S. and a de novo launch in Europe, both expected in Q4 2025 [5]. - ChemoFx helps oncologists make better treatment decisions by testing multiple chemotherapies on patients' cancer cells before treatment selection [5]. - Predictive Oncology has developed two unique 3D liver toxicity models for Labcorp, which can evaluate drug metabolism and liver toxicity [5]. - The company identified three promising candidates for repurposing from abandoned drugs, specifically Afuresertib, Alisertib, and Entinosta, for colon and breast tumor indications [5]. Capital and Investment - A standby equity purchase agreement for up to $10 million was announced with YA II PN, LTD, managed by Yorkville Advisors Global, LP, providing a flexible source of capital for advancing initiatives [5].
Fifty 1 Labs, Inc. (FITY) Sparks AI Breakthrough in Drug Repurposing: Subsidiary Fifty1 AI Labs Announces Strategic Partnership with Intent to Acquire BioSpark AI Technologies
Globenewswire· 2025-07-17 12:55
Core Insights - Fifty1 AI Labs, LLC has announced a strategic partnership with the intent to acquire BioSpark AI Technologies Inc., aiming to revolutionize drug repurposing through advanced AI technologies [1][4] - The collaboration will integrate BioSpark's AI and large language model (LLM) platform with Fifty1 AI Labs' predictive modeling to enhance the analysis of extensive medical literature [2][3] Group 1: Partnership and Acquisition - The partnership is designed to leverage AI to extract transformative insights from medical literature, thereby advancing functional medicine and preventative care [1][4] - Fifty1 AI Labs intends to fully acquire BioSpark, which will enhance its capabilities in identifying promising drug repurposing candidates [3][4] Group 2: Technological Integration - BioSpark's proprietary AI platform automates the extraction and structuring of clinical data, which will significantly improve the efficiency of identifying therapeutic patterns [2][3] - The integration of BioSpark's capabilities with Fifty1 AI Labs' Bayesian inference and polypharmacy modeling will create a new approach to drug repurposing based on real-world clinical data [3][4] Group 3: Strategic Vision - The alliance aims to dominate preventative healthcare through personalized, data-driven strategies and rapid identification of drug candidates [4][5] - Both companies share a commitment to enhancing human expertise with ethical AI tools, focusing on opportunities in functional medicine that traditional trials may overlook [5][6] Group 4: Company Background - BioSpark AI Technologies Inc. specializes in organizing real-world clinical data using proprietary AI and LLM technologies and holds a U.S. patent for its automation system [6] - Fifty1 AI Labs, a subsidiary of Fifty 1 Labs, Inc., focuses on AI-driven functional medicine, addressing critical needs in performance health and chronic disease prevention [7][8]