- The global precision medicine market is estimated to reach $84.6 billion by 2024
- Predictive Oncology is bringing cutting-edge technology to cancer research to develop highly customizable assessment methods that improve patient outcomes
- POAI leverages unique competitive advantage that stems from readily available access to historical data on tumor profiles and their drug responses
Precision medicine, an approach that seeks to understand the genetic makeup of a patient’s tumor in order to customize a drug targeting the particular gene type for each patient, offers tremendous potential for the treatment of a number of diseases. Predictive Oncology Inc. (NASDAQ: POAI), a data and artificial-intelligence-driven precision medicine company that develops models that predict tumor drug response, possesses a unique competitive advantage in this space, which Mordor Intelligence Inc. estimates will grow at a CAGR of 9.7%, reaching $84.6 billion by 2024 (http://ibn.fm/opuHt).
Despite the industry’s optimistic outlook, technology used in precision medicine faces a serious obstacle due to the lack of available data to enable its application. Pharmaceutical companies have invested heavily in genomics and “big data” to understand each patient’s genome to design target therapies. However, success rates for targeted therapies are low, and uptake in clinical practice is patchy.
As pharmaceuticals realize that the “just genomics” approach is not enough, an unmet need for a comprehensive, multi-omic (genome, transcriptome, epigenome, proteome, responseome and microbiome) picture of the tumor is becoming apparent. Despite evidence that the multi-omic approach is the most promising, leveraging this technology is difficult because few comprehensive, multi-omic datasets currently exist. Such data sets are notoriously difficult to create because it takes years to build multi-omic pictures of the tumors.
Unlike most other competitors, Predictive Oncology already has samples and access to historical data on clinical outcomes, which puts the company in a powerful position to generate value to pharmaceutical companies much more quickly than its competitors. In comparison, companies starting today must invest a considerable amount of funds in data collection and then wait at least five years for the clinical outcome data before they can capitalize on these investments – POAI, on the other hand, merely needs months.
Specifically, POAI can leverage two unique proprietary assets, from its acquisition of Helomics) which virtually eliminate development risk, a factor that considerably weighs on competitors’ efforts in the precision medicine space. First, Predictive Oncology possesses a clinically validated, tumor profiling platform built from data derived from actual tumors collected from patients over more than 10 years. which was clinically validated in ovarian cancer. Second, the company possesses data on the drug-response profiles of over 150,000 tumors across 137 cancer types tested over the same period. Using this valuable historical data, POAI’s platform can help predict drug response and outcome of the specific type of tumor collected from new patients, thus improving the patient outcomes.
Through its subsidiary Helomics, a leader in AI and functional precision medicine, POAI is bringing this cutting-edge technology to cancer research, where it’s working with the pharmaceutical, diagnostic and biotech industries to develop predictive models of how tumors response to drugs which can be used both for clinical decision support and research into new therapies.
According to Mordor Intelligence Inc, as precision medicine is primarily focused on better treatment of oncological diseases, oncology is expected to have the largest market share, with estimated market dominance in excess of 30% over other precision medicine segments and a CAGR of 10.3% from 2018 to 2024. With its unique proprietary technology, POAI is poised to capture a considerable portion of this growth potential.
For more information, visit the company’s website at www.Predictive-Oncology.com
NOTE TO INVESTORS: The latest news and updates relating to POAI are available in the company’s newsroom at http://ibn.fm/POAI