Renovaro Secures $15M Funding and Announces Merger with BioSymetrics to Advance AI-Driven Cancer Diagnostics and Therapies

Renovaro secures $15 million for cancer AI technology By Investing.com

LOS ANGELES - Renovaro Inc. (NASDAQ: RENB), a company specializing in artificial intelligence-driven cancer diagnostics and therapies, has secured $15 million in additional equity funding. The financing includes a cash warrant, exercisable at $1.50 within a one-year term, alongside the equity priced at $1.00 per share. The stock currently trades at $0.77, representing a significant discount from its 52-week high of $3.38. According to InvestingPro analysis, the company appears undervalued based on its Fair Value metrics. The fresh capital injection is aimed at advancing Renovaro's commitment to revolutionizing healthcare through the integration of AI in cancer diagnosis and personalized immunotherapy treatments. David Weinstein, CEO of Renovaro, stated that this new funding is expected to expedite the company's focus on early diagnosis and the development of more precise treatments and drug discovery. With a market capitalization of $122.69 million and an EBITDA of -$24.38 million in the last twelve months, this funding comes at a crucial time for the company's growth initiatives. Renovaro operates through two main divisions: RenovaroBio, which is focused on advanced cell-gene immunotherapy, and RenovaroCube, which leverages AI for multi-omic diagnostics and drug development. Together, these platforms strive to enhance precision and personalized medicine, contributing to extended longevity and better healthcare outcomes. InvestingPro data reveals the company operates with a moderate debt level, with a debt-to-equity ratio of 0.08, though its current ratio of 0.06 indicates potential liquidity challenges. The company also cautions that statements in the press release that are not strictly historical are forward-looking and involve risks and uncertainties. These include the potential success of Renovaro's technology and platforms, as well as the efficacy of its pipeline. The forward-looking statements are based on current expectations and are subject to change. InvestingPro subscribers can access additional risk metrics and 7 more exclusive ProTips about RENB's financial health and market position. Investors are advised to consider the risks detailed in Renovaro's most recent Annual Report on Form 10-K filed with the SEC and not to place undue reliance on these forward-looking statements. Renovaro has stated it has no obligation to update or revise the press release to reflect events or circumstances that arise after the date of the release. This financial move comes as part of the company's broader strategy to establish a stronger foothold in the rapidly evolving field of AI-powered healthcare solutions. The information provided here is based on a press release statement from Renovaro Inc. In other recent news, Renovaro Inc. has announced the appointment of Nathen Fuentes as its new Chief Financial Officer, effective January 6, 2025. Fuentes brings a wealth of experience from his roles in biotechnology and healthcare sectors, having previously served as CFO at Telomir Pharmaceuticals. Additionally, Maurice van Tilburg has been appointed as CEO of Renovaro's subsidiary, GEDi Cube B.V. Van Tilburg's extensive background in financial services and technology is expected to drive the subsidiary's focus on AI-driven cancer diagnostics. Renovaro has also regained compliance with Nasdaq's minimum bid price requirement, ensuring its continued listing on the exchange. This development follows a period where the company had fallen below the required bid price. In a strategic move, Renovaro has partnered with Nebul to enhance AI-driven cancer detection capabilities. This collaboration will utilize NVIDIA (NASDAQ:NVDA) SuperPOD systems to process genomic data rapidly, furthering Renovaro's mission in early disease detection. These recent developments highlight Renovaro's ongoing efforts to strengthen its leadership and technological capabilities.

Renovaro and BioSymetrics Announce Definitive Merger Agreement to Advance AI-Driven Biomarker Discovery and Precision Medicine - Renovaro (NASDAQ:RENB)

Strategic Combination Aims to Accelerate Biomarker Identification, Enhance Drug Discovery, and Expand Precision Medicine Applications in Cancer and Beyond LOS ANGELES, Feb. 26, 2025 (GLOBE NEWSWIRE) -- Renovaro Biosciences Inc. RENB, a TechBio leader focused on next-generation diagnostics, drug discovery, and genetically enhanced cancer therapies, today announced a definitive agreement to merge with BioSymetrics, an artificial intelligence (AI)-driven drug discovery and biomarker identification company. This transformative partnership is designed to enhance Renovaro's data repository, biomarker discovery capabilities, accelerate translational research, and bring precision medicine solutions to cancer and other critical disease areas. At the core of this collaboration is BioSymetrics' proprietary Elion platform, a cutting-edge AI and machine learning engine that uncovers complex biological relationships to accelerate the discovery of diagnostics and therapeutics. BioSymetrics' Phenograph provides a translational engine that maps human clinical signals to prioritized therapeutic targets and is designed to expedite and improve target and biomarker identification and enable patient stratification and drug repurposing. BioSymetrics' advanced AI in vivo modeling and machine vision systems enable high throughput phenotypic screening, leveraging AI-powered analysis to detect subtle biological responses with unprecedented accuracy. Through in vivo modeling BioSymetrics has amassed an incredible database of proprietary in vivo experimentation, with associated behavioural and morphological analysis. This integrated approach hastens the discovery and validation of transformative therapeutics by bridging computational insights with real-world biological validation, and has enabled platform and analytic partnerships with Janssen, Pfizer, Merck, Supernus Pharma, and Deerfield Cures. By integrating Elion into Renovaro's workflow, the combined entity aims to streamline the translation of biomarker insights into accelerated discovery timelines, enhancing precision in target identification and improving overall research efficiency, ultimately enabling faster and more effective drug discovery and therapeutic development. "This merger represents a pivotal step in our mission to diagnose cancer and advance precision medicine," said David Weinstein, CEO of Renovaro. "By combining our expertise in oncology with BioSymetrics' AI-driven biomarker discovery, we are creating a powerful synergy that will enhance our ability to identify new therapeutic targets, validate diagnostics and accelerate drug development." BioSymetrics' AI technology has been instrumental in uncovering novel disease signatures and optimizing precision medicine strategies. Through this merger, Renovaro will gain access to cutting-edge computational tools that enhance the ability to stratify patients, predict treatment responses, and drive more effective therapeutic interventions. "We are excited to join forces with Renovaro to translate cutting-edge biomarker discoveries into tangible advancements in drug development," said Anthony Iacovone, CEO of BioSymetrics. "Our AI-driven Elion platform is significantly impacting precision medicine and by aligning with Renovaro's deep expertise in immunotherapy and oncology, we can accelerate the journey from discovery to clinical application." The merger underscores a shared commitment to harnessing AI and data-driven approaches to improve patient outcomes. Moving forward, the combined company will focus on integrating AI-powered biomarker discovery with innovative drug development, ultimately bringing more precise and effective treatments to patients worldwide. The transaction is expected to close in March 2025, subject to customary closing conditions and regulatory approvals. For more information, visit www.renovarogroup.com and www.biosymetrics.com. About BioSymetrics BioSymetrics is a leading AI-powered drug discovery and data analytics company, focusing on phenotype-based insights to identify novel therapeutics. Its proprietary Elion platform integrates large-scale biological and clinical data to drive innovation in the pharmaceutical and healthcare industries. For more information, visit www.biosymetrics.com. 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 that is leveraging AI for multi-omic diagnostics and drug development. For more information, visit www.renovarogroup.com. 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] RENBRenovaro Inc$0.939021.5%OverviewMarket News and Data brought to you by Benzinga APIs