Acquisition Strengthens Commercialization Strategy of Company’s Gene Therapy Products
Salt Lake City, UT — January 10, 2017 – Predictive Technology Group, Inc. (OTCPINK: PRED), a life sciences technology holding company, announced the acquisition of US patent application 62/295,042 direct to the practice of “cleaning” stem cells of a predetermined disease-associated marker via the “Clustered Regularly Interspaced Short Palindromic Repeats – CRISPR” process and administering the stem cells to the patient.
“Clustered Regularly Interspaced Short Palindromic Repeats” (CRISPR) technology offers several advantages over previous forms of gene-editing. The human cell’s genome can be cut at a desired location, allowing existing genes to be removed and/or new ones added. Unlike other current practices which involve the introduction of foreign DNA.
“The claims are drawn to the ’cleaning‘ of any stem cell having a predetermined disease associated biomarker,” said Mike Schramm, PRED’s Director of Intellectual Property. “Because the patent application is for both autologous (withdrawn from and reintroduced to the same patient) and homologous (derived from another source), we see very broad use of the application.”
These rights enable PRED to both diagnose a patient for a genetic disease based on a specific biomarker and subsequently treating the patient with their own stem cells having the diagnosed biomarker eliminated via the CRISPR method.
“This is a significant opportunity for our company to obtain the rights to this invention,” said Bradley Robinson, President and Chief Executive Officer of PRED. “The technology is a strong bridge between our Molecular Diagnostic and Regenerative Medicine product portfolios.”
The global genome editing market is expected to reach USD $5.54 Billion by 2021 from USD $2.84 Billion in 2016, growing at a CAGR of 14.3%. (Source: Market and Market 2016 Genome Editing and Genome Engineering Report)
About Predictive Technology Group, Inc.
Predictive Technology Group, Inc. (PRED), through its wholly owned subsidiaries, revolutionizes the treatment of serious and debilitating diseases through the commercialization of novel therapeutics leveraged by proprietary gene-based companion diagnostics. The Company develops and/or acquires proprietary technologies that open windows into the origin of human disease and the role that genes and their related proteins play in diseases’ onsets and progressions. PRED’s subsidiaries use gene-based information as cornerstones in the development of new diagnostics that assess a person’s risk of disease and therapeutic products designed to effectively prevent and/or treat diseases.
To the extent any statements made in this release contain information that is not historical, these statements are essentially forward-looking and are subject to risks and uncertainties, including the difficulty of predicting FDA approvals, acceptance and demand for new vaccines and other pharmaceutical products, the impact of competitive products and pricing, new product development and launch, reliance on key strategic alliances, availability of raw materials, availability of additional intellectual property rights, availability of future financing sources, the regulatory environment and other risks the Company may identify from time to time in the future.