Precision Therapeutics Increases Equity Stake in Helomics to 25%
PRECISION THERAPEUTICS INC COMMON (AIPT)
US:NASDAQ Investor Relations:
investors.skylinemedical.com/investor-relations
Company Research
Source: GlobeNewswire
MINNEAPOLIS, March 14, 2018 (GLOBE NEWSWIRE) -- Precision Therapeutics Inc. (NASDAQ:AIPT) (“Precision” or “the Company”), formerly Skyline Medical, a company focused on applying artificial intelligence to personalized medicine and drug discovery, announced today that it has converted a previous $500,000 loan to Helomics into a 5% equity stake. This follows the purchase of preferred stock convertible into 20% of the outstanding common stock of Helomics Corporation in January 2018, bringing the Company’s total ownership of Helomics to 25%. Headquartered in Pittsburgh, Pennsylvania, Helomics has established operations that bridge two emerging areas of the healthcare industry: precision medicine and big data. Helomics’ competitive advantage lies in its proprietary D-CHIP™ database, which contains de-identified data compiled from more than a decade of clinical testing of tumor responses to drugs, coupled to an Artificial Intelligence (AI)-powered bioinformatics engine which generates ac
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