Renovaro's AI-Driven Cancer Diagnostics Subsidiary Receives EU Funding and New Leadership

RenovaroCube Receives Approval of Lumina Project by the Eurostars Funding Program - Renovaro (NASDAQ:RENB)

LUMINA is an Advanced Minimal Residual Disease Detection Platform for Lung Cancer Harnessing the Power of Multi-omics Biomarkers and AI LOS ANGELES and AMSTERDAM, Dec. 23, 2024 (GLOBE NEWSWIRE) -- Renovaro Inc. RENB, a pioneer in cancer diagnostics and therapeutics powered by artificial intelligence, today announced its subsidiary RenovaroCube (the 'Cube'), a leader in AI-driven cancer diagnostics by integrating multi-omics with liquid biopsies, together with its consortium partners Flomics Biotech, Uppsala Universitet and Oncodia, received grant funding approval for the Lumina project from the Eurostars funding program after review by an independent expert panel. Eurostars is part of the European Partnership on Innovative SMEs (Small and Medium-sized Enterprises). The partnership is co-funded by the European Union through Horizon Europe. Eurostars is the largest international funding program for SMEs wishing to collaborate on R&D projects that create innovative products, processes or services for commercialization, with over €250M in expected public-private investment each year. The Lumina project aims to deliver an advanced Minimal Residual Disease (MRD) detection platform for lung cancer. Harnessing the power of multi-omics biomarkers and AI-driven technology, this platform aims to transform recurrence risk prediction and treatment strategies for millions of patients worldwide. "This award further validates our purpose-built AI platform in facilitating the discovery of biomarkers critical for early cancer detection, monitoring, and treatment personalization," said David Weinstein, Chief Executive Officer of Renovaro. "In partnership with leading institutions and companies, including Uppsala University, Oncodia AB, and Flomics Biotech, the Lumina project is focused on improving lung cancer patient survival. Over 5.7 million lung cancer cases are treated or monitored globally each year, and of all curatively treated lung cancer patients, 60% will relapse. Lumina represents a significant opportunity to address this critical issue, and we look forward to continuing work with our partners to bring this product to market." A High-Performance Platform for Better Outcomes The objective of the LUMINA project is to develop a cutting-edge platform designed to provide unparalleled accuracy in detecting minimal residual disease. To achieve this, liquid biopsies combined with multi-omics biomarker technology, represent a revolutionary approach. The LUMINA project's AI-powered platform capitalizes on this potential, aiming to provide a highly accurate, non-invasive solution that addresses a critical unmet need in lung cancer care. Collaborative Expertise The LUMINA project is built on a strong foundation of collaboration with leading institutions and companies, including Uppsala University, Oncodia AB, and Flomics Biotech. These partnerships bring together world-class clinical expertise and a multi-omic approach, leveraging the analysis of cell-free DNA and RNA to ensure the platform's success. About Renovaro Renovaro https://renovarogroup.com/ aims to accelerate precision and personalized medicine for longevity powered by mutually reinforcing AI and biotechnology platforms for early diagnosis, better-targeted treatments, and drug discovery. Renovaro Inc. includes RenovaroBio with its advanced cell-gene immunotherapy company and RenovaroCube. About RenovaroCube RenovaroCube is a pioneer in AI-based molecular diagnostics, committed to revolutionizing healthcare through advanced data analysis. Its platform integrates cutting-edge AI capabilities with state-of-the-art HPC infrastructure to provide unparalleled insights into multi-omic data for early detection of diseases based on non-invasive testing using liquid biopsy (blood). RenovaroCube's AI platform is purpose-built to process and analyze multi-omic molecular data, facilitating the discovery of biomarkers critical for early cancer detection, monitoring, and treatment personalization. Originally developed for the fintech sector, this platform is being reengineered for healthcare, offering: Sequence Processing: Transform raw molecular data from patient samples into clean, analyzable formats using advanced sequencing and alignment technologies, ensuring the highest quality for downstream analysis.Biomarker Discovery: Harness unique algorithms and multi-omic pipelines to identify biologically relevant cancer biomarkers, providing critical insights into disease mechanisms and potential therapeutic targets.AI Factory: Employ sophisticated machine learning models to predict cancer presence, origin, and stage based on extracted biomarker features. These models are trained on vast datasets to enhance accuracy and reliability, supporting early detection and personalized treatment strategies.Precision Diagnostics: Offer an interactive interface for visualizing data, generating comprehensive clinical reports, and delivering actionable insights across various omic layers and biomarkers. This interface empowers healthcare professionals to make informed decisions with confidence. About Flomics Biotech, S.L. Flomics https://www.flomics.com/ is a fast-growing biotech company based in Barcelona, operating in the genomics and liquid biopsy space. Flomics' objective is to develop a revolutionary diagnostic blood test based on Next-Generation Sequencing (NGS) of cell-free RNA, suitable for the early detection of different complex diseases, in particular cancer. Additionally, as CRO, Flomics also offers the following services: biomarker discovery (on tissue and biofluids), support on bioinformatic analysis and an intuitive web-based platform suitable for the analysis of NGS data (Stratus). The team at Flomics has a strong background in RNA and liquid biopsy, as well as advanced bioinformatics analysis methods. About Uppsala Universitet Uppsala University is the first university in the Nordic countries and a world-class research institution. The Department of Immunology, Genetics and Pathology is dedicated to advancing cancer diagnostics and treatment through the study of molecular changes associated with cancer. The research aims to harness measurable molecular information to improve diagnosis and therapy, with a strong focus on developing liquid biopsy-based diagnostic tests. A key initiative is the U-CAN project, which provides a unique biobank of high-quality clinical samples and data from cancer patients to support translational research. This effort, combined with cutting-edge molecular biology and clinical expertise, underscores the university's commitment to transforming cancer care. About Oncodia AB Oncodia is an innovative Medical Technology company based in Uppsala, Sweden. Oncodia is committed to providing in vitro diagnostic products that consistently meet customer needs, enhance patient treatment outcomes and adhere to regulatory and statutory requirements. Oncodia provides CE/IVD software for precision cancer medicine as well as CE/IVD products for DNA/RNA isolation from diagnostic tissue specimens. Their focus is to supply clinical pathology and oncology with the right solutions for optimal molecular diagnostics of solid tumors. Statements in this press release that are not strictly historical in nature are forward-looking statements. These statements are only predictions based on current information and expectations and involve a number of risks and uncertainties, including but not limited to the success or efficacy of our pipeline, platform and fundraising. All statements other than historical facts are forward-looking statements, which can be identified by the use of forward-looking terminology such as "believes," "plans," "expects," "aims," "intends," "potential," or similar expressions. Actual events or results may differ materially from those projected in any of such statements due to various uncertainties, including as set forth in Renovaro's most recent Annual Report on Form 10-K filed with the SEC. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, and Renovaro Inc. undertakes no obligation to revise or update this press release to reflect events or circumstances after the date hereof. Investor Relations Chris Tyson Executive Vice President MZ Group - MZ North America 949-491-8235 [email protected] www.mzgroup.us For media inquiries, please contact: [email protected] and [email protected] Market News and Data brought to you by Benzinga APIs

RenovaroCube Receives Approval of Lumina Project by the Eurostars Funding Program By Investing.com

LUMINA is an Advanced Minimal Residual Disease Detection Platform for Lung Cancer Harnessing the Power of Multi-omics Biomarkers and AI LOS ANGELES and AMSTERDAM, Dec. 23, 2024 (GLOBE NEWSWIRE) -- Renovaro Inc. (NASDAQ: RENB), a pioneer in cancer diagnostics and therapeutics powered by artificial intelligence, today announced its subsidiary RenovaroCube (the ~Cube'), a leader in AI-driven cancer diagnostics by integrating multi-omics with liquid biopsies, together with its consortium partners Flomics Biotech, Uppsala Universitet and Oncodia, received grant funding approval for the Lumina project from the Eurostars funding program after review by an independent expert panel. Eurostars is part of the European Partnership on Innovative SMEs (Small and Medium-sized Enterprises). The partnership is co-funded by the European Union through Horizon Europe. Eurostars is the largest international funding program for SMEs wishing to collaborate on R&D projects that create innovative products, processes or services for commercialization, with over €250M in expected public-private investment each year. The Lumina project aims to deliver an advanced Minimal Residual Disease (MRD) detection platform for lung cancer. Harnessing the power of multi-omics biomarkers and AI-driven technology, this platform aims to transform recurrence risk prediction and treatment strategies for millions of patients worldwide. This award further validates our purpose-built AI platform in facilitating the discovery of biomarkers critical for early cancer detection, monitoring, and treatment personalization, said David Weinstein, Chief Executive Officer of Renovaro. In partnership with leading institutions and companies, including Uppsala University, Oncodia AB, and Flomics Biotech, the Lumina project is focused on improving lung cancer patient survival. Over 5.7 million lung cancer cases are treated or monitored globally each year, and of all curatively treated lung cancer patients, 60% will relapse. Lumina represents a significant opportunity to address this critical issue, and we look forward to continuing work with our partners to bring this product to market. A High-Performance Platform for Better Outcomes The objective of the LUMINA project is to develop a cutting-edge platform designed to provide unparalleled accuracy in detecting minimal residual disease. To achieve this, liquid biopsies combined with multi-omics biomarker technology, represent a revolutionary approach. The LUMINA project's AI-powered platform capitalizes on this potential, aiming to provide a highly accurate, non-invasive solution that addresses a critical unmet need in lung cancer care. Collaborative Expertise The LUMINA project is built on a strong foundation of collaboration with leading institutions and companies, including Uppsala University, Oncodia AB, and Flomics Biotech. These partnerships bring together world-class clinical expertise and a multi-omic approach, leveraging the analysis of cell-free DNA and RNA to ensure the platform's success. About Renovaro Renovaro https://renovarogroup.com/ aims to accelerate precision and personalized medicine for longevity powered by mutually reinforcing AI and biotechnology platforms for early diagnosis, better-targeted treatments, and drug discovery. Renovaro Inc. includes RenovaroBio with its advanced cell-gene immunotherapy company and RenovaroCube. About RenovaroCube RenovaroCube is a pioneer in AI-based molecular diagnostics, committed to revolutionizing healthcare through advanced data analysis. Its platform integrates cutting-edge AI capabilities with state-of-the-art HPC infrastructure to provide unparalleled insights into multi-omic data for early detection of diseases based on non-invasive testing using liquid biopsy (blood). RenovaroCube's AI platform is purpose-built to process and analyze multi-omic molecular data, facilitating the discovery of biomarkers critical for early cancer detection, monitoring, and treatment personalization. Originally developed for the fintech sector, this platform is being reengineered for healthcare, offering: About Flomics Biotech, S.L. Flomics https://www.flomics.com/ is a fast-growing biotech company based in Barcelona, operating in the genomics and liquid biopsy space. Flomics' objective is to develop a revolutionary diagnostic blood test based on Next-Generation Sequencing (NGS) of cell-free RNA, suitable for the early detection of different complex diseases, in particular cancer. Additionally, as CRO, Flomics also offers the following services: biomarker discovery (on tissue and biofluids), support on bioinformatic analysis and an intuitive web-based platform suitable for the analysis of NGS data (Stratus). The team at Flomics has a strong background in RNA and liquid biopsy, as well as advanced bioinformatics analysis methods. About Uppsala Universitet Uppsala University is the first university in the Nordic countries and a world-class research institution. The Department of Immunology, Genetics and Pathology is dedicated to advancing cancer diagnostics and treatment through the study of molecular changes associated with cancer. The research aims to harness measurable molecular information to improve diagnosis and therapy, with a strong focus on developing liquid biopsy-based diagnostic tests. A key initiative is the U-CAN project, which provides a unique biobank of high-quality clinical samples and data from cancer patients to support translational research. This effort, combined with cutting-edge molecular biology and clinical expertise, underscores the university's commitment to transforming cancer care. About Oncodia AB Oncodia is an innovative Medical (TASE:PMCN) Technology company based in Uppsala, Sweden. Oncodia is committed to providing in vitro diagnostic products that consistently meet customer needs, enhance patient treatment outcomes and adhere to regulatory and statutory requirements. Oncodia provides CE/IVD software for precision cancer medicine as well as CE/IVD products for DNA/RNA isolation from diagnostic tissue specimens. Their focus is to supply clinical pathology and oncology with the right solutions for optimal molecular diagnostics of solid tumors. Forward-Looking Statements Statements in this press release that are not strictly historical in nature are forward-looking statements. These statements are only predictions based on current information and expectations and involve a number of risks and uncertainties, including but not limited to the success or efficacy of our pipeline, platform and fundraising. All statements other than historical facts are forward-looking statements, which can be identified by the use of forward-looking terminology such as believes, plans, expects, aims, intends, potential, or similar expressions. Actual events or results may differ materially from those projected in any of such statements due to various uncertainties, including as set forth in Renovaro's most recent Annual Report on Form 10-K filed with the SEC. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, and Renovaro Inc. undertakes no obligation to revise or update this press release to reflect events or circumstances after the date hereof. For media inquiries, please contact: [email protected] and [email protected]

Renovaro Inc. Appoints Maurice van Tilburg to Lead GEDi Cube BV - Renovaro (NASDAQ:RENB)

Current Renovaro Chairman to Lead Subsidiary's Development Program and Commercialization LOS ANGELES and AMSTERDAM, Dec. 30, 2024 (GLOBE NEWSWIRE) -- Renovaro Inc. RENB, a pioneer in cancer diagnostics and therapeutics powered by artificial intelligence, today announced Chairman of the Board, Maurice van Tilburg, has been appointed as Chief Executive Officer of its subsidiary GEDi Cube BV (a leader in AI-driven cancer diagnostics by integrating multi-omics with liquid biopsies) DBA RenovaroCube. Maurice van Tilburg has held several senior positions in the Financial Services industry and Tech enterprises combining general management, technology, operational service delivery, financial management, audit and product development. In conjunction with the appointment, Mr. van Tilburg recently retired as the Director of the Dutch National Growth Fund where he oversaw a total of more than €11B covering the largest portfolio of government investments in the area of innovation and technology. With this new role he builds on his role at Techleap.nl where he developed new and additional sources of funding for Dutch Tech scale-ups in order to contribute to global challenges, economic growth, technology capabilities and employment in the Netherlands. Mr. van Tilburg brings with him his experience as CEO of Euronext Amsterdam where he was responsible for clients, product development, organization and P&L for the Dutch market as well as the operational running of all European stock markets of Euronext. In that context Mr. van Tilburg has also held nonexecutive/advisory board member positions at several startup companies. "We are privileged that our Chairman Maurice van Tilburg has accepted the position of Chief Executive Officer of GEDi Cube BV, bringing a deep understanding of both Renovaro and GEDi Cube BV," said David Weinstein, Chief Executive Officer of Renovaro. "His expertise in technology and the capital markets will enable us to prioritize commercializing our technologies. He will take the lead in partnerships with Nebul to advance the early detection of cancer and other diseases, and the Lumina project which aims to deliver an advanced Minimal Residual Disease (MRD) detection platform for lung cancer. Maurice will be instrumental in steering us in our next stage of growth and GEDi Cube's BV development pipeline to create value streams from a broad range of products and services." "I am thrilled to have the opportunity to lead GEDi Cube BV into its next exciting phase of development," said Maurice van Tilburg "I believe that the transformative AI Cube platform will be an inflection point in the creation of diagnostics for early-stage cancer and identifying new genes for our Cancer Vaccine Platform. I look forward to working closely with the GEDiCube executive team to harness the power of multi-omics biomarkers and AI-driven technology with the aim to transform recurrence risk prediction and treatment strategies for millions of patients worldwide." Renovaro's Board of Directors unanimously approved the appointment of Maurice van Tilburg as CEO of GEDi Cube BV. About Renovaro Renovaro https://renovarogroup.com/ aims to accelerate precision and personalized medicine for longevity powered by mutually reinforcing AI and biotechnology platforms for early diagnosis, better-targeted treatments, and drug discovery. Renovaro Inc. includes RenovaroBio with its advanced cell-gene immunotherapy company and RenovaroCube. About GEDi Cube BV DBA RenovaroCube is a pioneer in AI-based molecular diagnostics, committed to revolutionizing healthcare through advanced data analysis. Its platform integrates cutting-edge AI capabilities with state-of-the-art HPC infrastructure to provide unparalleled insights into multi-omic data for early detection of diseases based on non-invasive testing using liquid biopsy(blood) RenovaroCube's AI platform is purpose-built to process and analyze multi-omic molecular data, facilitating the discovery of biomarkers critical for early cancer detection, monitoring, and treatment personalization. Originally developed for the fintech sector, this platform is being reengineered for healthcare, offering: Sequence Processing: Transform raw molecular data from patient samples into clean, analyzable formats using advanced sequencing and alignment technologies, ensuring the highest quality for downstream analysis.Biomarker Discovery: Harness unique algorithms and multi-omic pipelines to identify biologically relevant cancer biomarkers, providing critical insights into disease mechanisms and potential therapeutic targets.AI Factory: Employ sophisticated machine learning models to predict cancer presence, origin, and stage based on extracted biomarker features. These models are trained on vast datasets to enhance accuracy and reliability, supporting early detection and personalized treatment strategies.Precision Diagnostics: Offer an interactive interface for visualizing data, generating comprehensive clinical reports, and delivering actionable insights across various omic layers and biomarkers. This interface empowers healthcare professionals to make informed decisions with confidence. Statements in this press release that are not strictly historical in nature are forward-looking statements. These statements are only predictions based on current information and expectations and involve a number of risks and uncertainties, including but not limited to the success or efficacy of our pipeline, platform and fundraising. All statements other than historical facts are forward-looking statements, which can be identified by the use of forward-looking terminology such as "believes," "plans," "expects," "aims," "intends," "potential," or similar expressions. Actual events or results may differ materially from those projected in any of such statements due to various uncertainties, including as set forth in Renovaro's most recent Annual Report on Form 10-K filed with the SEC. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, and Renovaro Inc. undertakes no obligation to revise or update this press release to reflect events or circumstances after the date hereof. Investor Relations Chris Tyson Executive Vice President MZ Group - MZ North America 949-491-8235 [email protected] www.mzgroup.us For media inquiries, please contact: [email protected] and [email protected] Market News and Data brought to you by Benzinga APIs

Renovaro appoints new CEO for AI-driven diagnostics arm By Investing.com

LOS ANGELES and AMSTERDAM - Renovaro Inc. (NASDAQ: RENB), a $146 million market cap company known for its innovations in cancer diagnostics and therapeutics, has announced the appointment of Maurice van Tilburg as Chief Executive Officer of its subsidiary, GEDi Cube BV, also operating as RenovaroCube. The announcement comes as the company's stock trades near $0.92, having experienced significant volatility over the past year. InvestingPro analysis suggests the stock is currently fairly valued based on its proprietary Fair Value model. The subsidiary specializes in artificial intelligence-powered cancer diagnostics, integrating multi-omics with liquid biopsies. Van Tilburg, who currently serves as Renovaro's Chairman of the Board, brings a wealth of experience from his tenure in the financial services and technology sectors. His previous roles include CEO of Euronext (EPA:ENX) Amsterdam and Director of the Dutch National Growth Fund, where he managed over €11 billion in government investments focused on innovation and technology. David Weinstein, CEO of Renovaro, expressed confidence in van Tilburg's ability to lead the subsidiary, emphasizing his deep understanding of Renovaro and GEDi Cube BV. Van Tilburg's appointment is expected to advance the company's commercialization efforts, particularly in partnerships aimed at early cancer detection and the development of an advanced Minimal Residual Disease (MRD) detection platform for lung cancer. In his statement, van Tilburg shared his enthusiasm for steering GEDi Cube BV through its next development phase. He highlighted the potential of the AI Cube platform to revolutionize early-stage cancer diagnostics and contribute to the creation of new diagnostics for cancer vaccines. Renovaro's Board of Directors has unanimously approved van Tilburg's appointment. Renovaro's focus remains on leveraging AI and biotechnology to improve precision and personalized medicine, encompassing RenovaroBio and RenovaroCube. According to InvestingPro data, the company faces some financial challenges, with short-term obligations exceeding liquid assets and a current ratio of 0.08. Subscribers to InvestingPro can access 8 additional key insights about Renovaro's financial health and market position. RenovaroCube's AI platform is designed to process multi-omic molecular data, aiding in the discovery of biomarkers for cancer detection, monitoring, and treatment personalization. The platform offers a range of services, from sequence processing and biomarker discovery to AI-driven predictive models and precision diagnostics. The press release includes forward-looking statements regarding the success and efficacy of Renovaro's pipeline, platform, and fundraising efforts, cautioning that actual results may vary due to uncertainties. Financial metrics from InvestingPro show the company operating with moderate debt levels and working to improve its financial position, with an Altman Z-Score indicating the need for careful monitoring. For comprehensive analysis and real-time updates on Renovaro's financial health and market performance, investors can access detailed metrics and expert insights through InvestingPro's advanced analytics platform. This article is based on a press release statement from Renovaro Inc. In other recent news, Renovaro Inc. has regained Nasdaq compliance with the bid price rule, ensuring its continued listing on the Nasdaq Stock Market. The company has also announced a strategic partnership with Nebul, a European AI cloud infrastructure firm, aimed at enhancing early cancer detection. This collaboration will deploy a dedicated NVIDIA (NASDAQ:NVDA) SuperPOD for rapid genomic data processing. The company has seen significant changes in its leadership, with the recent appointment of David Weinstein as CEO. Renovaro has also revised the compensation package for its interim CFO, Simon Tarsh, who will now receive $25,000 monthly for his services, with potential for a 30% bonus if certain milestones are achieved. Furthermore, Renovaro disclosed a restatement of its financials for the quarter ended March 31, 2024, due to a misstatement concerning the value of its indefinite life intangible assets. The company is also planning to divest up to 20% of its subsidiary, RenovaroCube, to raise capital. These are among the recent developments as Renovaro continues to navigate its financial challenges while advancing its strategic objectives.