Award Provides Patent Protection for Multiple Therapeutic and Companion Diagnostic Products
Salt Lake City, UT –June 21, 2016– Predictive Technology Group, Inc. (OTC PINK: PRED), a life sciences technology holding company, announced today that the United States Patent and Trademark Office (USPTO) has granted a fundamental patent (US Patent 9,370,431) that covers the practice of administering ANY spine deformation therapeutics to a patient having a spine deformation altered risk associated biomarker.
“We are pleased to see this latest patent issuance that supports PRED’s novel approach to diagnosing spinal disorders and syndromes,” said Mike Schramm, PRED’s Director of Intellectual Property. “This issued US patent supports the commercial use of both our diagnostic and next-generation companion treatment products.” The claims of the ‘431 application build on previously issued US patents 8,123,787 and 8,641,738 to which ‘431 claims priority and further bolster PRED’s Intellectually Property position.
“We are gratified to see this latest patent issuance, which covers the core technology underlying the Company’s first available molecular diagnostic test,” said Bradley Robinson, President and Chief Executive Officer of Predictive Technology Group, Inc. “Furthermore, this fundamental patent covers not only spinal applications of our technology but establishes a precedent for the other patent applications that have been submitted on the Company’s portfolio of next-generation diagnostic and companion treatment products.”
The patent establishes the foundation of key intellectual property (IP) covering ANY treatment options (drug, surgery, bracing, etc.) for patients having a specific spine deformity biomarker. This newly issued patent is additive to previously announced patents. Furthermore, the Company has additional US and International patent applications pending and will pursue such applications with the objective of receiving additional issued patents in several other disease states.
The issuance of this new patent is a significant milestone for PRED.
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 prevent effectively 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.