Chengdu 23Mofang Bio-tech Company, a startup in Chengdu Tianfu Software Park, has recently published an academic paper on genome-wide association study of photic sneeze reflex in the Chinese population in the Scientific Reports journal under Nature.
23Mofang: Research method innovation
Genetic testing, a rising life science technology in recent years, has become a hot track of innovation and entrepreneurship. Chengdu 23Mofang Bio-tech Company is one of the top runners on the track. Due to the unremitting pursuit of the “Moore’s law” in genetic testing field that the price of direct-to-customer (DTC) genetic testing will be halved at intervals as a result of technology upgrade, more than 300,000 genetic samples of Chinese people have been brought to 23Mofang, making it top the list of Chinese DTC genetic testing companies with such a large database.
Genetic testing is closely related to biotechnology. 23Mofang has built a biological laboratory itself, which can conduct genetic testing for 400,000 people every year. It is also building a genetic testing laboratory ranking second largest in the world and first in Asia with an annual capacity of 4 million people. Furthermore, 23Mofang also works with some professional medical institutions to carry out research. The first academic paper of the company published in the Scientific Reports journal under Nature was a result of the collaboration with Mengqiao Wang, PhD, Assistant Professor at Sichuan University West China School of Public Health on photic sneeze reflex.
Photic sneeze reflex (PSR) is a phenotype that refers to sneezing in response to exposure to bright light. Through the genome-wide association study (GWAS) of a large number of samples from Chinese population, 23Mofang has for the first time proved the association between PSR and heredity, and verified that PSR is affected by multiple genes and it is not exclusive to certain races but is heritable in many different races.
With professional guidance from Dr. Wang on statistical modeling and data visualization and with application of scientific achievements, 23Mofang harnessed its advantages in data collection and analysis. Both sides worked together to overcome challenges, resulting in original scientific discoveries and paper publishing.
Dr. Wang said, “The U.S. DTC genetic companies such 23andMe have published many academic papers on genetics, physiology, and phenotypes, while Chinese DTC genetic testing companies are at the nascent stage, but with a bright future.”
Besides Sichuan University, 23Mofang reportedly cooperates with universities and research institutions such as Fudan University; Kunming Institute of Zoology, CAS; Army Medical University; Beijing Institute of Genomics, CAS; and University of Electronic Science and Technology of China, to mainly study the possible effects of genetics on physiology, economics, and social behaviors of the Chinese people.
Tianfu Software Park: Becoming a globally oriented technology R&D and innovation center
According to the overall situation of the Chinese scientific papers in 2017 reported by the Institute of Scientific and Technical Information of China, the 100 international papers with high influence in China in 2017 were published by 69 institutions, wherein, 80 were from colleges and universities, 14 were from research institutes, 5 were from hospitals affiliated to colleges and universities and other hospitals, and 1 was from a company. The inclusion of the company paper into the 100 papers with high influence shows that the influence of papers published in the name of companies in China is gaining influence. According to the statistics of Angang Technology, enterprises seldom published scientific papers in China 30 years ago, and the handful that published such papers were mostly state-owned heavy industry enterprises of some scale. Now, with new economy, private enterprises represented by 23Mofang are scrambling to publish international papers, the 3-decade shift from state-owned enterprises to private enterprises, from heavy industry to new economy, and from China to the world is truly remarkable.
The phenomenon of publishing papers in the name of enterprises is relatively rare. However, the research vitality of private enterprises in Chengdu is far more active than it seems, because enterprises are more inclined to apply for patents after obtaining some scientific achievements than publish papers. According to incomplete statistics, enterprises in Tianfu Software Park, one of the most active parks in terms of intellectual property activities, have applied for 22,000 patents (including PCTs) and possessed over 19,500 software copyrights, wherein, enterprises that possess more patents include TD Tech, DFINE, XGimi Technology, CK Science and Technology, Idealsee, Pinguo Technology, SKSpruce, and China Mobile IoT, etc., and enterprises with more copyrights include SuperMap Software, Jiaoda Guangmang, TD Tech, Aostar, ChinaWiserv Technologies, and Daqsoft, etc. And the above does not include holders of prolific patents and copyrights that have set up their R&D centers in Tianfu Software Park, such as IBM, Philips, Siemens, Ericsson, Dell, TCL, Alibaba, and Tencent.
The world-renowned R&D achievements of enterprises from Tianfu Software Park don’t come by accident. Adhering to a professional, platform-based and international development concept, Tianfu Software Park has been focusing on the frontier technology, combining new economy and traditional industries, and giving priority to the Belt and Road Initiative in recent years, and by serving as a platform and link, it has further integrated industrial resources to build the industrial ecology and promote industry innovation. Well-known domestic and overseas enterprises such as IBM, SAP, Alibaba, and Tencent have settled in the park. The “5Cs” Cultivation Program for entrepreneurship in Tianfu Software Park covers capital, talents, circles, markets, and entrepreneurship coaching, making it a successful incubator for some leading enterprises and brands such as Medlinker, XGimi, and Codoon.
The complete industry ecosystem furnishes sci-tech talents with a favorable environment to grow. Talents, whether junior level talents to mid to senior level talents, can all find a robust career development path in Tianfu Software Park, which creates a strong talent aggregation effect. A growing number of domestic enterprises are willing to set their national or even global R&D headquarters there; and in turn, more talents will be attracted to gather there, thus forming a virtuous circle. Industrial clusters in spheres of software product R&D, communication technology, IC design, mobile interconnection, digital entertainment, techfin, and shared service center, etc. have generally taken shape in the park, covering cloud computing, big data, artificial intelligence, Internet of Things, blockchain, and VR/AR, etc. The park, as a nationally-known innovation landmark, has now become an important destination for well-known domestic and foreign software and information service providers in their strategic layouts. Tianfu Software Park is becoming a globally oriented technology R&D and research innovation center.
SOURCE Chengdu Tianfu Software Park
Aidéo Technologies Launches Free Use of AI-Powered Automated CPT and Diagnosis Coding During the US Response to COVID-19
MELBOURNE, Fla., April 01, 2020 (GLOBE NEWSWIRE) — Aidéo Technologies – a leader in AI-enabled automation technology for the healthcare industry – announced today that it will allow healthcare organizations and revenue cycle management companies to utilize its AI enabled medical coding engine Gemini AutoCode™ free of charge in response to COVID-19.
COVID-19 has disrupted the global revenue cycle management workforce and created challenges for organizations lacking a secure infrastructure to allow employees to work from home while under shelter-in-place mandates. As a by-product, physician practice and hospital revenue are negatively impacted.There is a growing concern over security of US patient data as many companies cannot meet security requirements in a work from home environment. “Aidéo Technologies wants to help the US Healthcare Delivery System remain financially viable during this national crisis,” said Rob Gontarek, the President and CEO of Aidéo Technologies. “We are making our technology platform available at no cost for the duration of the crisis to affected providers and revenue cycle management companies. Organizations can gain immediate access to a secure solution to the disruption in the global workforce.” The business continuity of medical groups and hospitals can be maintained using the machine learning models for medical coding through Gemini AutoCode™.Gemini AutoCode™ uses AI, a proprietary Natural Language Processing engine, and machine learning to interpret structured and unstructured clinical data. The application assigns the appropriate procedure and diagnosis codes, with no human intervention required. Gemini AutoCode™ easily integrates with electronic medical records and can accurately interpret and code over forty-thousand clinical encounters per hour.It is expected that COVID-19 will have a lasting impact on the US Healthcare Delivery System and the machine learning of Gemini AutoCode™ will offer relief to entities impacted by the crisis. For more information, please visit www.aideo-tech.com/howcanwehelp?About Aidéo Technologies
Aidéo Technologies (www.aideo-tech.com) provides software automation tools using artificial intelligence, robotics, and machine learning to the healthcare industry. Established in 2009, the company has development centers in Melbourne, Florida, and Silicon Valley. Aidéo is a portfolio company of Avtar Investments (www.avtarinvestments.com), a private family office investment firm focused on disruptive technology in healthcare.Contact:
Senior Director, Client Service
2nd Gen AMD EPYC™ Processors Power New IBM Cloud Bare Metal Servers
SANTA CLARA, Calif., April 01, 2020 (GLOBE NEWSWIRE) — Today, AMD announced that IBM Cloud is enhancing its global infrastructure with 2nd Gen AMD EPYC™ processors to power its latest bare metal servers. With the addition of the AMD EPYC 7642 processor to its cloud portfolio, IBM is engineered to deliver increased computing performance in its bare metal offerings. Available now, these new bare metal servers are the first 2nd Gen AMD EPYC™ based offering from IBM Cloud and are focused on the computing power and performance required to accelerate modern workloads like data analytics, electronic design automation, artificial intelligence and virtualized and containerized workloads.
“2nd Gen AMD EPYC processors deliver where it counts for cloud providers, providing the cores, scalability and throughput for critical workloads,” said Forrest Norrod, senior vice president and general manager, Data Center and Embedded Solutions, AMD. “We are extremely excited to extend the advantages of 2nd Gen AMD EPYC processors to new bare metal offerings at IBM Cloud, helping customers tackle today’s compute-intensive workloads.”“We are thrilled to launch new IBM Cloud offerings powered by the 2nd Gen AMD EPYC CPUs,” says Satinder Sethi, GM, IBM Cloud Infrastructure Services. “With these new processors, we can offer IBM Cloud clients greater choice and flexibility to select the platform that is best suited to meet the needs of today’s most demanding workloads. We look forward to continuing to deliver new innovations and value to our clients in the future.”The AMD EPYC 7642 based, dual socket bare metal server offering at IBM Cloud includes:96 CPU cores per platformBase clock frequency of 2.3GHz with a Max Boost up to 3.3GHzi8 memory channels per socket for superior memory bandwidthUp to 4TB memory configuration supportUp to 24 local storage drivesOS choices of RHEL, CentOS, Ubuntu, MS ServerMonthly, pay-as-you-use billingOrderable via the global IBM Cloud Catalogue, API, or CLIThe bare metal servers are being made available in IBM Data Centers across the North America, Europe, and Asia Pacific regions. The AMD EPYC 7642 based servers can be ordered via the IBM Cloud global catalogue portal, API or CLI and consumed in a monthly pay-as-you-use model. Visit IBM Cloud to start building a bare metal server configuration with 2nd Gen AMD EPYC processors.Supporting ResourcesLearn more about IBM Cloud Bare Metal ServersRead more at the IBM BlogLearn more about the AMD 2nd Gen EPYCTM ProcessorBecome a fan of AMD on FacebookFollow AMD on TwitterAbout AMD
For more than 50 years AMD has driven innovation in high-performance computing, graphics and visualization technologies ― the building blocks for gaming, immersive platforms and the datacenter. Hundreds of millions of consumers, leading Fortune 500 businesses and cutting-edge scientific research facilities around the world rely on AMD technology daily to improve how they live, work and play. AMD employees around the world are focused on building great products that push the boundaries of what is possible. For more information about how AMD is enabling today and inspiring tomorrow, visit the AMD (NASDAQ: AMD) website, blog, Facebook and Twitter pages.AMD, the AMD Arrow logo, EPYC, and combinations thereof, are trademarks of Advanced Micro Devices, Inc. Other names are for informational purposes only and may be trademarks of their respective owners.i Max boost for AMD EPYC processors is the maximum frequency achievable by any single core on the processor under normal operating conditions for server systems. EPYC-18
(512) 602-8950 Laura Graves
AMD Investor Relations
Predictive Oncology Reports 2019 Full-year Financial Results
MINNEAPOLIS, April 01, 2020 (GLOBE NEWSWIRE) — Predictive Oncology Inc. (NASDAQ: POAI) (“Predictive Oncology” or “the Company”), a knowledge-driven company focused on applying artificial intelligence (“AI”) to personalized medicine and drug discovery, today reported financial results for its full year ended December 31, 2019, as well as select corporate highlights.Q4 HighlightsSecured $15.0 Million equity line with Oasis Capital, LLCNew subsidiary Helomics reached milestone sequencing tumor cases in partnership with UPMC MageeSubsidiary Skyline Medical completed largest STREAMWAY™ System order to a single hospital in the Company’s historyLaunched CancerQuest 2020 initiative, with ovarian cancer initial targetFull-Year 2019 Results – 2019 vs. 2018Revenues were $1.4 million, flat year on year relative to $1.4 million in 2018Net loss was $19.7 million versus $10.1 million in 2018, owing in part to Helomics merger expenses, goodwill impairment, and other extraneous expenses related to the transaction.Bob Myers, CFO of Predictive Oncology, stated, “2019 was not without its challenges for the entire healthcare technology industry, yet we continued to execute on our business model, making a synergistic acquisition and shoring up our balance sheet via a new $15.0 million equity line from Oasis Capital. Our STREAMWAY line has maintained strong disposable product sales and we continue to sell the STREAMWAY System.”“We continue to be very excited about the revenue and monetization prospects for our precision medicine business, which will allow us to be at the forefront of developing the artificial intelligence required to combat a variety of ailments, as well as our revolutionary STREAMWAY clinical waste disposal products,” stated Dr. Carl Schwartz, CEO and Director. “We will continue to execute upon our comprehensive strategy to deliver long-term profitable growth and innovation while concentrating our efforts and resources on our recently acquired Helomics business.”“Building on the successes in 2019, we have recently announced the launch of our CancerQuest 2020 initiative, and we expect Helomics’ first AI-driven predictive model of ovarian cancer to be ready for initial commercialization in revenue generating projects with Pharma in Q2-2020,” Dr. Schwartz added. “Furthermore, we have signed a Letter of Intent to acquire Quantitative Medicine, a biomedical analytics and computational biology company. Against this backdrop, we believe that Predictive Oncology will continue to be a pioneer within the fields of biomarker discovery and precision therapies going forward.”FULL-YEAR 2019 RESULTSRevenues were $1.4 million, consistent with 2018. Revenues in both years were primarily driven through the sale of Predictive Oncology’s proprietary STREAMWAY units, of which 43 units and 41 units were sold, respectively, in each of 2019 and 2018. Gross margins remained strong, declining slightly to 62% in 2019, from 71% in 2018, largely due to the increase in costs following the consolidation of the Helomics acquisition on April 4, 2019. However, exclusive of Helomics, the cost of sales related to the sale of STREAMWAY products was comparable on a year-on-year basis.Net losses for 2019 totaled $19.7 million versus $10.1 million in 2018. General & administrative expenses rose 111% to nearly $9.8 million in 2019 as a result of extraneous expenses and initial costs related to the Helomics merger. In addition, Predictive Oncology recognized a credit loss of $1.0 million in notes receivable from CytoBioscience (now operating as InventaBioTech). Operational expenses also rose to $3.0 million, compared to $1.8 million in 2018. Net loss in 2019 reflected impairment charges of $8.1 million on goodwill related to the Helomics merger and $0.8 million on intangibles, versus no impairment charges in 2018.Separately, the Company benefited from a gain of $6.1 million as a result of the revaluation of the equity method investment recorded post the initial 25% purchase of Helomics, following the merger and consolidation of Helomics effective April 4, 2019. Predictive Oncology also incurred other expenses of $4.0 million in 2019 compared to only $441,000 in 2018, primarily due to an increase in interest expense, payment penalties, amortization of original issue discounts and a loss on debt extinguishment related to our notes payable.OUTLOOKGoing forward, management intends to focus its resources on the Helomics and TumorGenesis divisions and the Company’s primary mission of applying artificial intelligence to precision medicine, drug discovery and the mediums used to replace rats and mice in preliminary cancer studies. Predictive Oncology had previously reported in December 2019 that it had received several indications of interest for the possible acquisition of its Skyline Medical division (which owns and markets the Company’s proprietary STREAMWAY System) no further action has resulted from these indications, and today management reaffirms that it is focusing the majority of its resources on maximizing opportunities within the Company’s precision medicine business.About Predictive Oncology Inc.Predictive Oncology (Nasdaq: POAI) operates through three segments (Domestic, International and Helomics), which contain four subsidiaries; Helomics, TumorGenesis, Skyline Medical and Skyline Europe. 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 to provide a tailored solution to its clients’ specific needs. Predictive Oncology’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. Predictive Oncology’s Skyline Medical division 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, please visit www.predictive-oncology.com.Forward-looking StatementsPortions of the narrative set for this this document that are not statements of historical or current facts are forward-looking statements, in particular, the commercial outlook provided above. Our actual future performance may materially differ from that contemplated by the forward-looking statements as a result of a variety of factors.These factors include, in addition to those mentioned elsewhere herein:
We may not be able to continue operating without additional financing;Current negative operating cash flows;The terms of any further financing, which may be highly dilutive and may include onerous terms;Risks related to the 2019 merger with Helomics including; 1) significant goodwill could result in further impairment; 2) possible failure to realize anticipated benefits of the merger; 3) costs associated with the merger may be higher than expected; 4) the merger may result in the disruption of our existing businesses; and 5) distraction of management and diversion of resources;Risks related to our partnerships with other companies, including the need to negotiate the definitive agreements; possible failure to realize anticipated benefits of these partnerships; and costs of providing funding to our partner companies, which may never be repaid or provide anticipated returns;Risks related to the transaction with Quantitative Medicine including: 1) completion of the transaction; 2) possible failure to realize anticipated benefits of the merger; 3) costs associated with the merger may be higher than expected; 4) the merger may result in the disruption of our existing businesses; and 5) distraction of management and diversion of resources;Risk that we will be unable to complete the transaction with InventaBio Tech;Risk that we will be unable to protect our intellectual property or claims that we are infringing on others’ intellectual property;The impact of competition;Acquisition and maintenance of any necessary regulatory clearances applicable to applications of our technology;Inability to attract or retain qualified senior management personnel, including sales and marketing personnel;Risk that we never become profitable if our product is not accepted by potential customers;Possible impact of government regulation and scrutiny;Unexpected costs and operating deficits, and lower than expected sales and revenues, if any;Adverse results of any legal proceedings;The volatility of our operating results and financial condition, and,Other specific risks that may be alluded to in this report.Contact:
Predictive Oncology, Inc.
Consolidated Balance Sheets
Predictive Oncology, Inc.
Consolidated Statements of Operations
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