Precision Therapeutics Inc. (AIPT-NASDAQ)

Precision Therapeutics Inc. is a healthcare company that provides personalized medicine solutions and medical devices in two main areas: (1) precision medicine, which aims to apply artificial intelligence (AI) to personalized medicine and drug discovery; and (2) Skyline Medical, which markets the FDA-cleared STREAMWAY® System for automated, direct-to-drain medical fluid waste collection and disposal. The Company’s precision medicine services—designed to use AI and a comprehensive disease database to improve the effectiveness of cancer therapy—were launched with Precision Therapeutics’ investment in Helomics® Corporation. The Definitive Merger Agreement was signed on June 28, 2018. Helomics’ precision oncology services are based on its D-CHIP™ diagnostic platform, which combines a database of genomic and drug response profiles from over 149,000 tumors with an AI-based searchable bioinformatics platform. Once a patient’s tumor is excised and analyzed, the D-CHIP™ platform compares the tumor profile with its database, and, using its extensive drug response data, provides a specific therapeutic roadmap. Additionally, through its Skyline Medical operations, the Company markets the STREAMWAY System, an environmentally conscientious system for collecting and disposing infectious waste fluids produced during medical procedures. To enhance the precision medicine foundation addressed by Helomics, the Company formed TumorGenesis Inc. (a wholly-owned subsidiary) to develop the next generation patient-derived tumor models, as well as executed a partnership with GLG Pharma. Precision Therapeutics’ growth strategy aims to generate additional income through the following three key directives: (1) boost sales of Skyline’s STREAMWAY business, (2) continue its precision medicine initiatives via Helomics and TumorGenesis; and (3) create additional strategic partnerships and acquisitions within the precision medicine space.

* The Corporate Snapshot was last updated on July 9, 2018.