Precision Therapeutics’ CEO Talks with Uptick Newswire’s Stock Day Podcast About Exciting New Breakthroughs in Tumor Treatment and What’s on the Horizon
GlobeNewswire•November 5, 2018
PHOENIX, Nov. 05, 2018 (GLOBE NEWSWIRE) -- Precision Therapeutics (Nasdaq: AIPT) (The “Company”) is a company applying artificial intelligence to personalized medicine and drug discovery. Their CEO, Dr. Carl Schwartz, and Richard Gabriel, a consultant brought on to lead the external business development strategy for TumorGenesis, Inc., Precision Therapeutics’ wholly-owned subsidiary, joined Stock Day’s Everett Jolly.
Right off the top Jolly asked about the state of the merger between Precision Therapeutics and Helomics Holding Corporation.
“It’s been almost 4 months of steady work on this merger,” explained Schwartz. “The S-4 just went off this past Monday. We are on our way, so the S-4 is in their hands and we await their comments and or decision. The next step will be a stockholder vote, then we hope to be one company by the end of the year.”
Jolly said that the company works with artificial intelligence to find solutions in the medical and drug discovery fields. He asked Schwartz exactly what that means for listeners.
“There are two facets to our company. The first one is the direct-to-drain system, which is Skyline. That’s a device that fits on the wall in an operating room and takes fluids from the patients directly to the drain, so they are not touched by any of the staff of the hospital or any of the maintenance staff through its process, that’s the original company,” explained Schwartz. “Then there’s Helomics, which is the company we are buying. They are in artificial intelligence and the analysis of tumors.”
Schwartz said they currently own 25% of Helomics and he can’t say much more until the merger is complete. He went on to say there is a third piece to who they are, TumorGenesis, Inc.
“That’s a company that we formed to develop a product that is really quite revolutionary. In the AI business, when they want to test tumors, they use mice. We found that, well Richard will explain it more, but they are developing a new matrix to test these tumors that eliminate the use of a mouse and very carefully replicate the body,” said Schwartz.
Gabriel then explained that TumorGenesis is targeting ovarian cancer with through their research and treatments. He explained that cancer cells fool the body into thinking that they are normal cells. 40% Ovarian cancer patients only have about a 50/50 chance of beating the disease.
“We thought, if we fool the cancer cells, we create an environment for the cancer cells that makes them think they are still inside the human body,” Gabriel explained.” This is all about fooling cancer cells in to growing outside of the body and keeping the DNA they are expressing as a cancer cell inline with what the patient sample originally was. We’ve been able to do that.”
Gabriel said then the company grows the cells and screens multiple combinations of drugs and in multiple dilutions, which is extremely important to the ovarian cancer patient.
“Our first goal is can we turn that 50/50 coin toss in 40% of the patients who survive ovarian cancer into 60/40 or 70/30 or 90/10. That’s a huge breakthrough for the market,” says Gabriel.
He went on to explain that this is not a drug, this is a way for the pathologists to get the tumor sample, screen it across the platform, use all of the other standard tests, so that they can determine what is the particular tumor type a particular patient has. From that they use the Helomics drug screen technology to use the AI and give the oncologist, through the pathologist, the best pathway to treat the patient. Gabriel explained their system is much more cost effective and faster.
“Our system only takes 9 weeks and cost about $12,500” when compared to current treatment which can take 32 weeks and costs $25,000. He says their first goal is ovarian cancer and that they are currently sourcing materials.
Jolly then asked Schwartz how he sees the first and second quarter shaping up for Precision Therapeutics.
“We are excited about that time period, we have a couple of things besides TumorGenesis,” explained Schwartz.” We hope to have the completion of our merger with Helomics and in addition with our STREAMWAY system, which is the direct-to-drain system, we have a new model coming out at the end of the year which is about half the size. With fewer moving marts, a very efficient piece of equipment and we are adding a vacuum pump that will be an adjunct to the machine initially, then will be integrated into the machine in a couple of months. It will make it way more appealing to the operating room.”
For the entire interview, click on the link to the Stock Day podcast: https://upticknewswire.com/featured-interview-ceo-dr-carl-schwartz-of-precision-therapeutics-inc-nasdaq-aipt-2/ |
