SALT LAKE CITY, March 26, 2019 (GLOBE NEWSWIRE) -- Predictive Technology Group, Inc. (OTC PINK: PRED), a leader
in the use of data analytics for disease identification and subsequent therapeutic intervention through precision therapeutic
treatments, announces it has completed the acquisition of Taueret Laboratories, LLC, a clinical and research molecular laboratory,
for $9,747,800, with $1,200,000 paid at closing in the form of the Company’s restricted common stock and $8,547,800 to be paid on
or before December 31, 2020, subject to certain conditions. Taueret Laboratories will join Predictive Technology Group’s newest
subsidiary Predictive Laboratories.
“With the completion of this acquisition and addition of a highly experienced staff, we have formed an
unparalleled molecular clinical and research facility to support our objectives of commercializing novel diagnostics based on
predictive analytics and extensive genetic information,” said Bradley C. Robinson, CEO of Predictive Technology Group. “Our teams
at Predictive and Taueret have been collaborating for more than a decade and our use of the Taueret laboratory was instrumental in
developing the ARTguide™ test, our proprietary test for endometriosis. We are excited to welcome Taueret’s executive and clinical
laboratory teams, who are joining Predictive Laboratories in similar roles and bringing us more than 125 years of combined
experience in validating, launching and running DNA diagnostic tests.
“We plan the immediate use of our laboratory to develop a suite of new clinical tests for the reproductive
health market,” Robinson added. “We expect this newly acquired laboratory to accelerate the commercialization of our current tests
and provide additional capacity as our tests gain momentum.”
In conjunction with the acquisition, Predictive invested $4.2 million in new laboratory instrumentation and
resources to bolster capabilities in the 15,000-square-foot laboratory and administrative campus, which now contains all necessary
infrastructure for the Company’s clinical operations.
About Taueret Laboratories, LLC
Taueret Laboratories is a privately held molecular laboratory focusing on human infertility, women's health, and childhood diseases
and performs genetic testing using state-of-the-art instrumentation. The clinical leadership team includes Laboratory Director
Kenneth Ward, M.D. who is Board Certified in four specialties including Obstetrics and Gynecology, Maternal-Fetal Medicine, Medical
Genetics, and Molecular Genetics. Dr. Ward has run DNA diagnostic laboratories for more than 32 years and is internationally known
in the field of human genetics. Lesa Nelson serves as Chief Operations Officer and has more than 30 years of experience in Human
Molecular Genetics. Justine Coppinger, M.S., a Board-Certified Genetic Counselor, serves as Director of Clinical Affairs and brings
more than 20 years of experience in clinical and diagnostic laboratory settings. Taueret Laboratories voluntarily participates in
proficiency testing programs and adheres to strict accreditation standards and practices of the College of American Pathologists
(CAP), the Clinical Laboratory Improvement Amendments of ‘88 (CLIA), and all applicable state licensing. Taueret has held
continuous CAP / CLIA accreditation for more than a decade.
About Predictive Laboratories, Inc.
Predictive Laboratories owns significant next-generation sequencing and genotyping assets along with extensive protocols, quality
and laboratory management systems and other resources required by a “high complexity” molecular diagnostic laboratory operating
under the Clinical Laboratory Improvement Act (CLIA). In 2018 this group launched its novel test for women experiencing
infertility, called ARTGuide®, to selected beta launch centers. ARTGuide™ is a proprietary gene test panel for women experiencing
infertility as a result of endometriosis and other health concerns. The test is expected to change the way that Advanced
Reproductive Technologies (ART), such as in vitro fertilization (IVF), are used to assist couples having difficulty
conceiving a pregnancy.
About Predictive Technology Group, Inc.
Predictive Technology Group aims to revolutionize patient care through predictive data analytics, novel gene-based diagnostics and
companion therapeutics through its subsidiaries Predictive Therapeutics, Predictive Biotech, and Predictive Laboratories. These
subsidiaries are focused on endometriosis, scoliosis, degenerative disc disease and human cell and tissue products. The
subsidiaries use genetic and other information as cornerstones in the development of new diagnostics that assess a person’s risk of
illness and therapeutic products designed to identify, prevent and treat diseases more effectively. Additional information is
available at Predtechgroup.com; Predrx.com; Predictivebiotech.com; and Predictivelabs.com.
Forward-Looking Statements
To the extent any statements made in this release contain information that is not historical, these statements are essentially
forward-looking and are subject to risks and uncertainties, including the difficulty of predicting FDA approvals, acceptance and
demand for human cell and tissue products and other pharmaceutical products, the impact of competitive products and pricing, new
product development and launch, reliance on key strategic alliances, availability of raw materials, availability of additional
intellectual property rights, availability of future financing sources, the regulatory environment, and other risks the Company may
identify from time to time in the future.
Contact:
For more information, visit www.predictivelabs.com or contact Investor Relations:
LHA Investor Relations
Jody Cain jcain@lhai.com
Kevin Mc Cabe kmccabe@lhai.com
310-691-7100
