Continue to Site

MassDevice

The Medical Device Business Journal — Medical Device News & Articles | MassDevice

Home » Predictive Technology Group closes Renovo buyout, names new prez

Predictive Technology Group closes Renovo buyout, names new prez

By

Predictive TechSalt Lake City, Utah-based Predictive Technology Group (OTCMKTS:PRED) said today it closed its buy of ReNovo Biotech and tapped former ReNovo Biotech CEO Eric Olson as the new prez of Predictive Biotech.

Predictive Biotech said the acquisition will allow it access to ReNovo’s cellular, tissue, biomaterial and regenerative medicine products, as well as access to its distribution channels and customers from a recent private label agreement.

Predictive Technology said it will continue its commercialization expansion of therapeutics through internal growth as well as acquisition of complementary companies.

“We are very excited to announce that we have completed our due diligence, and have now been able to finalize our acquisition of ReNovo Biotech. This acquisition is a significant milestone for PRED and is the first step in our strategy to expand our product portfolio of technologies that are companion treatment solutions to our molecular diagnostic tests and pharmaceuticals. It will quickly help bring our company into revenue and cash flow through the existing distribution channels and private label partnerships. This allows us to begin clinical trials on the treatment of debilitating diseases with allogeneic and autologous stem cell products,” Predictive Technology Group CEO Bradley Robinson said in prepared remarks.

As part of the deal, previous ReNovo CEO Olson will also move to Predictive Biotech as its new president, the company said.

“Eric Olson is a proven President and CEO with over 20 years of experience in a broad range of various stage companies. Mr. Olson has established an outstanding record of verifiable success exceeding revenue, profit and business growth objectives in the rapidly changing medical device, biologics, and molecular diagnostic industries. He has experience in taking companies public and commercializing new technologies. Most recently, Mr. Olson was the President and CEO of Skeletal Kinetics in Cupertino, CA, and before that the President and CEO of Amedica Corporation in Salt Lake City, Utah,” Robinson said in a press release.

The companies did not release any financial or other details of the purchase.

In case you missed it

RSS From Medical Design & Outsourcing

  • Elevating Robotic Precision in Medical Devices: A Case Study by Omniseal Solutions™
    Unlock the secrets behind smoother robotic movements in medical devices with Omniseal Solutions™’ low friction sealing innovation. Our latest case study showcases how precision engineering meets medical excellence, ensuring optimal performance and reliability in robotic arm joints. By Clara Soueve Digital Customer Acquistion Specialist – Omniseal Solution™ Life Sciences Pioneering Low-Friction Seals for Robotic Arm… […]
  • How Medtronic evaluates its exposure to GLP-1 drugs
    Medtronic Chief Scientific, Medical and Regulatory Officer Dr. Laura Mauri drills into GLP-1 drug trial results to estimate their impact across the portfolio. The impact of glucagon-like peptide-1 (GLP-1) drugs like Ozempic and Wegovy on medtech manufacturing is one of the biggest uncertainties heading into 2024. Industry leaders like Medtronic, Stryker and Intuitive have faced… […]
  • Brain-computer interface lets ALS patient control home devices
    Researchers say they observed the successful translation of brain signals into computer commands with a brain-computer interface (BCI) implant. A team at Johns Hopkins surgically implanted the BCI on the brain of an ALS (amyotrophic lateral sclerosis) patient. They published their results, which showed the accurate translation of computer commands from brain activity, in Advanced Science.… […]
  • The 10 largest medtech employers of 2023 – and what their employees really think
    Employees at the 10 largest medtech employers in the world are finding a greater balance between work and life but are still frustrated by corporate bureaucracy. Those are just a few takeaways as Medical Design & Outsourcing compiled employees’ sentiments from reviews posted on Glassdoor. Total medtech jobs were down year-over-year in our 2023 Medtech… […]
  • Imperative Care CEO Fred Khosravi’s dream for medtech — and how to get there
    Medtech leader Fred Khosravi is betting on an innovative — and risky — approach to patient care. Imperative Care co-founder, Chair and CEO Fred Khosravi, a refugee of the Iranian Revolution who became an engineer and serial entrepreneur in the U.S., wants medtech to shift its focus from treating diseases to treating patients. He’s taking… […]
  • Can AI ‘move fast and cure things’ in healthcare?
    The entry of AI into healthcare is starkly different from the accepted adage of “move fast and break things” in consumerism. In episode 1 of AI Meets Life Sci, Kayleen Brown, managing editor at DeviceTalks, and Brian Buntz, pharma and biotech editor, discuss the opportunities, limitations, and direct impact of Ai in healthcare fields including… […]
  • Mytos raises $19M Series A to automate human cell manufacturing
    NEWS RELEASE: Mytos Announces $19M Series A Funding to Automate Human Cell Manufacturing and Further Accelerate Growth London, UK – November 30, 2023 – Mytos, an innovative leader in automated cell manufacturing, announced today it has closed $19M in Series A financing led by Buckley Ventures, with participation from IQ Capital and Wing VC. The… […]
  • Moticont releases 0.875-in. diameter linear voice coil servo motor
    NEWS RELEASE: Linear Voice Coil Servo Motor Just 0.875 in. in Diameter Has High Force-to-Size High Acceleration, and a 0.25 in. Stroke! Van Nuys, CA – Moticont has released the GVCM-022-013-01 Linear Voice Coil Servo Motor. This compact .875 in. (22.2 mm) diameter high speed, high force-to-size linear motor features high accuracy and high repeatability… […]
  • Wearable developer Empatica aims to develop new digital biomarkers
    Empatica Chief Medical Officer Dr. Marisa Cruz discusses advances in wearable technology and how new digital biomarkers could advance medtech. Dr. Marisa Cruz envisions a future where unobtrusive wearable devices with advanced sensors will continuously measure and record actionable biodata without patients having to lift a finger. Cruz is an endocrinologist and internist who serves… […]
  • Nordson Medical expands Pennsylvania operations
    NEWS RELEASE: Nordson Medical expands Easton, Pennsylvania operations into an additional facility Easton, Pennsylvania – November 29, 2023 – Nordson Medical, a global leader in the medical device components industry, is expanding its Easton, Pennsylvania operations into an additional facility less than two miles away. This expansion will allow an increased capacity of their fluorinated… […]
  • Medtech glossary: Medical device industry terms, abbreviations and acronyms
    Acronyms, abbreviations and definitions of medtech terms, devices and companies Medtech’s a complicated business, with its own industry abbreviations, acronyms and terms. Cut through the jargon with our constantly evolving glossary — and please suggest additions by emailing Managing Editor Jim Hammerand. 3D printing: A type of additive manufacturing used to make patient-specific anatomical models,… […]

Copyright © 2023 · WTWH Media LLC and its licensors. All rights reserved.
The material on this site may not be reproduced, distributed, transmitted, cached or otherwise used, except with the prior written permission of WTWH Media.

Privacy Policy