Precision Therapeutics Forms TumorGenesis Inc. Subsidiary to Focus on the Next Generation of Patient Derived Tumor Models

Precision Therapeutics (NASDAQ:AIPT) formerly Skyline Medical (NASDAQ:SKLN), a company focused on applying artificial intelligence to personalized medicine and drug discovery, announced today it has formed a wholly owned subsidiary, TumorGenesis to develop the next generation or patient derived tumor models for precision cancer therapy and drug development.

As quoted in the press release:

The Company formed TumorGenesis Inc. to develop a new, rapid approach to growing tumors in the laboratory, which essentially “fools” the cancer cells into thinking they are still growing inside the patient. This approach will provide a much more relevant model of the patient tumor that may be used for testing of drugs for personalized therapy or for the development of new drugs. Testing of the TumorGenesis PDx tumors will take place in collaboration with Helomics, in which Precision has a 20% equity stake. The Company is currently in negotiations with several medical technology companies to license their technology to advance TumorGenesis’s strategic plan and expects to announce these potential agreements in the near future.

Click here to read the full press release.