Core Insights - Predictive Oncology has completed the sale of its subsidiary Skyline Medical to DeRoyal Industries, allowing it to focus on its core AI-driven drug discovery capabilities [1][2] - The transaction is part of Predictive Oncology's strategy to merge with Renovaro Biosciences, enhancing its operational focus [2] Company Overview - Predictive Oncology specializes in AI-driven drug discovery, utilizing machine learning to expedite early drug discovery for cancer treatment [5] - The company operates the PEDAL platform, which predicts with 92% accuracy the response of tumor samples to drug compounds, supported by a biobank of over 150,000 tumor samples [5] - Skyline Medical, the sold subsidiary, markets the STREAMWAY System, a technology for managing hazardous fluids in healthcare settings [3] Transaction Details - The acquisition by DeRoyal Industries includes the STREAMWAY System, which enhances waste fluid management in medical facilities [3][4] - DeRoyal aims to integrate the STREAMWAY product line into its offerings, improving its position in healthcare waste management solutions [4] - The transaction was structured as an asset sale, with all necessary approvals obtained prior to completion [4] Strategic Implications - The sale allows Predictive Oncology to concentrate on its primary mission of advancing AI in drug discovery, while DeRoyal expands its product portfolio [1][4] - The restructuring plan implemented for Skyline Medical aimed to improve its operating metrics and profitability before the sale [4]
Predictive Oncology Completes Sale of Skyline Medical Assets to DeRoyal Industries