RenovaroCube Announces Strategic Offering of Up to 20% Ownership
Source: GlobeNewswireAMSTERDAM, Sept. 11, 2024 (GLOBE NEWSWIRE) -- (NASDAQ: RENB) The Board of Renovaro, Inc (RENB) intends to seek strategic investors to acquire up to 20% of RenovaroCube (Cube), currently a wholly owned subsidiary.
This opportunity will be available to all potential investors including current shareholders of RENB.
Cube is a molecular data science company with a background in FinTech and a 10-year history. It brings together proprietary artificial intelligence (AI) technology for multi-omics and multi-modal data analysis, and the expertise of a carefully selected multidisciplinary team to radically accelerate precision medicine and enable breakthrough changes, beginning with cancer.
“Newly raised funds from strategic investors could help accelerate our go-to-market strategy to generate revenue through our innovative open-access AI engine that has the potential to be used by many sources in the private sector and by large health care systems as well as advancing our own product pipeline beginning with a blood test to detect recurrence of certain cancers within a few days of beginning treatment,” said Dr. Henk Vietor, the Managing Director of Cube. Cube expects to use the proceeds from the offering primarily to advance Cube’s platform.
Renovaro, Inc, through Renovaro Bio, also remains focused on advancing its patented cancer vaccine targeting difficult to treat solid tumors such as pancreatic, head and neck, liver and others. We believe advancing the Cube pipeline has the potential to create a multiplier effect towards a vertically integrated approach to cancer from early diagnosis, to selection of treatments more likely to succeed, early detection of recurrence and, ultimately, new therapies.
Subscription terms are to be determined with potential investors as they are potentially identified and approved by the Board of Renovaro Inc..
About Renovaro Group:
Renovaro aims to accelerate precision and personalized medicine for longevity powered by mutually reinforcing AI and biotechnology platforms for early diagnosis, better-targeted treatments, and drug discovery. Renovaro Inc. includes RenovaroBio with its advanced cell-gene immunotherapy company and RenovaroCube.
RenovaroCube has developed an award-winning AI platform that is committed to the early detection of cancer and its recurrence and monitoring subsequent treatments. RenovaroCube intervenes at a stage where potential therapy can be most effective. RenovaroCube is a molecular data science company with a background in FinTech and a 10-year history. It brings together proprietary artificial intelligence (AI) technology, multi-omics, multi-modal data, and the expertise of a carefully selected multidisciplinary team to radically accelerate precision medicine and enable breakthrough changes in cancer care.
Forward-Looking Statements
Statements in this press release that are not strictly historical in nature are forward-looking statements. These statements are only predictions based on current information and expectations and involve a number of risks and uncertainties, including but not limited to the success or efficacy of our pipeline, platform and fundraising. All statements other than historical facts are forward-looking statements, which can be identified by the use of forward-looking terminology such as “believes,” “plans,” “expects,” “aims,” “intends,” “potential,” or similar expressions. Actual events or results may differ materially from those projected in any of such statements due to various uncertainties, including as set forth in Renovaro’s most recent Annual Report on Form 10-K filed with the SEC. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, and Renovaro Inc. undertakes no obligation to revise or update this press release to reflect events or circumstances after the date hereof.
This press release is made for informational purposes only and does not constitute an offer to sell or a solicitation of an offer to buy securities, nor shall there be any sale of any securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. The information set forth herein does not purport to be complete or to contain all of the information you may desire.
For media inquiries, please contact: karen@renovarocube.com
Source: Renovaro Inc.
