Precision Therapeutics’ Helomics Division Selected by AccuGenomics as Preferred Lab Partner

Precision Therapeutics Inc. recently announced its Helomics division has been selected as the preferred laboratory to provide laboratory services for the recently funded National Institute for Innovation in Manufacturing Biopharmaceuticals (NIIMBL) grant to develop test kits, which will be branded as Accukit, for screening of microbial and viral contamination of biopharmaceuticals with its partner AccuGenomics, Inc. The Accukit development is in partnership with AccuGenomics, Celgene, Merck, and North Carolina State University (NCSU) with the goal of improving biosafety testing for biopharmaceutical products.

“The opportunity to contribute to innovative approaches to drug development is an important part of our business. Having received the highest inspection marks from NYSDOH and California, our state-of-the-art and highly recognized CLIA-certified lab in Pittsburgh contributes to our remaining at the cutting edge of innovation with leading edge partners that utilize our boutique contract research services,” said Gerald Vardzel, President of Helomics. “We are particularly pleased to be working as the preferred laboratory in conjunction with such notable partners as AccuGenomics, Celgene, Merck, and NCSU in creating these biosafety test kits.”

According to the grant proposal, Helomics will collaborate with AccuGenomics to develop an innovative, highly sensitive Next Generation Sequencing (NGS)-based testing platform to streamline screening of microbial and viral contamination of biopharmaceuticals. The Accukit will be able to detect 22 known adventitious viruses and bacteria at sensitivity levels required to pass strict Quality Control standards. The platform is also easily extendable to detect potential new contaminating agents.

“Collaborating with Helomics on this development program provides significant confidence to all participants in achieving a successful outcome, and we are pleased to have them as our preferred laboratory for providing quality NGS services,” added Nick Lazaridis, CEO of AccuGenomics. “Their unparalleled expertise, coupled with their high-quality laboratory and bioinformatics services have created an excellent partnership environment from which we expect superior results.”

Precision Therapeutics (Nasdaq: AIPT) operates through its three wholly owned subsidiaries, Helomics, TumorGenesis and Skyline Medical. Helomics applies artificial intelligence to its rich data gathered from patient tumors to both personalize cancer therapies for patients and drive the development of new targeted therapies in collaborations with pharmaceutical companies. Helomics’ CLIA-certified lab provides clinical testing that assists oncologists in individualizing patient treatment decisions, by providing an evidence-based roadmap for therapy. In addition to its proprietary precision oncology platform, Helomics offers boutique CRO services that leverage its TruTumor, patient-derived tumor models coupled to a wide range of multi-omics assays (genomics, proteomics, and biochemical), and an AI-powered proprietary bioinformatics platform (D-CHIP) to provide a tailored solution to its clients’ specific needs.

Precision’s TumorGenesis subsidiary is developing a new rapid approach to growing tumors in the laboratory, which essentially “fools” cancer cells into thinking they are still growing inside a patient. Its proprietary Oncology Discovery Technology Platform kits will assist researchers and clinicians to identify which cancer cells bind to specific biomarkers. Once the biomarkers are identified they can be used in TumorGenesis’ Oncology Capture Technology Platforms, which isolate and help categorize an individual patient’s heterogeneous tumor samples to enable the development of patient-specific treatment options. Helomics and TumorGenesis are focused on ovarian cancer. Precision’s Skyline Medical subsidiary markets its patented and FDA cleared STREAMWAY System which automates the collection, measurement and disposal of waste fluid, including blood, irrigation fluid and others, within a medical facility, through both domestic and international divisions. The company has achieved sales in five of the seven continents through both direct sales and distributor partners. For more information, visit www.precisiontherapeutics.com.