Precision Therapeutics
Precision Therapeutics Presents Studies at 2011 Breast Cancer Symposium
Precision Therapeutics will present data on four compelling multi-gene breast cancer signatures at the 2011 Breast Cancer Symposium, being held September 8-10, 2011, in San Francisco, California. Precision's abstract, titled, "Evaluation of the Performance of Breast Cancer Cell-Line Derived Multi-Gene Predictors (MGPs) of Chemotherapy Response in Multiple Clinical Trials," demonstrates the feasibility of using these signatures to predict chemotherapy response in breast cancer patients. "The promising results give us hope for helping optimize treatments for breast cancer patients." says Nan Song, Bioinformatics and Statistic Scientist at Precision Therapeutics. Learn more at www.precisiontherapeutics.com.
September 7, 2011 | Permalink
Med BioGene Shareholders Approve Precision Therapeutics Agreement
On April 12, 2011, the shareholders of MedBioGene approved the commercialization, license and research reimbursement agreement with Precision Therapeutics. The agreement provides Precision exclusive global rights to develop and commercialize MBI's lead test, LungExpress Dx. Learn more about personalized cancer therapy at www.precisiontherapeutics.com.
April 14, 2011 | Permalink
Precision Therapeutics Launches BioSpeciFx
BioSpeciFx(R), a new product line from Precision Therapeutics, uses well-validated and clinically-useful biomarker tests that identify critical molecular targets within a patient's cell. By using the information generated by BioSpeciFx in combination with the comapny's drug response marker, ChemoFx, physicians may gain a more complete understanding of a patient's tumor, further personalizing cancer treatments. Learn more about personalized cancer treatment options at www.precsiontherapeutics.com.
April 14, 2011 | Permalink
Precision Therapeutics Presents Pancreatic Cancer Studies
Precision Therapeutics will present two studies at the 2011 American Society of Clinical Oncology (ASCO) GI Symposium this week. The lead investigator on the studies, Dr. Jan Franko, explains, "Our work supports the notion that the selection of chemotherapeutic agents may need to be based on the unique characteristics of a tumor sampled from patients. ChemoFx(R) may assist with this by providing information on which drugs may actually be active in individual patients." Learn more about the science of individualizing cancer therapy at www.chemofx.com.
January 20, 2011 | Permalink
CinemaTech50: Awards Show Goes Hollywood
The Pittsburgh Technology Council's 14th annual Pittsburgh Technology 50 awards ceremony hits the red carpet on Thursday, October 14th at 5:00 at the Hilton Pittsburgh. The Tech 50 Awards represent southwestern Pennsylvania’s most successful and innovative technology companies. The awards represent transformative technology centers of excellence with companies at all stages of growth. Among the category finalists for CEO of the Year are Sean McDonald of Precision Therapeutics and David Palmer of ClearCount Medical Solutions. Best of luck to all nominees. For more information or to register online, visit http://www.pghtech.org/events/tech50.aspx.
October 12, 2010 | Permalink
Sean McDonald Receives 2010 Pacesetters Award
Sean McDonald, CEO of Precision Therapeutics was recognized as a 2010 Pacesetter by Smart Business Magazine as a business leader in the mid-sized company category. The award honors thirteen regional Pacesetters and recognizes the impact of their influence in the community-at-large as well as within their own organizations.
September 28, 2010 | Permalink
Precision Therapeutics to Present at Stifel Nicolaus Annual Healthcare Conference
Precision Therapeutics will be one of 180 presenters at the Stifel, Nicolaus & Company Annual Healthcare Conference, September 15-17 at the Four Seasons Hotel in Boston. The conference will focus on opportunities and challenges in the healthcare industry for the remainder of 2010 and beyond. Learn more about Precision Therapeutics on the company website.
September 16, 2010 | Permalink
Precision Therapeutics to Sponsor NOCC "Walk to Break the Silence"
Precision Therapeutics will sponsor the Pittsburgh Chapter of the National Ovarian Cancer Coalition's "Walk to Break the Silence" on Sunday, September 12, 2010. The walk, at the North Park Boathouse, is an optional 1 or 5 mile hike to benefit ovarian cancer awareness. For more information on the Walk, visit www.ovarian.org; for more information on personalized cancer therapy from Precision Therapeutics, visit www.chemofx.com.
September 9, 2010 | Permalink
Precision to Launch Genomics Product
Precision Therapeutics is planning to launch a "genomics" product in 2011. Exciting news from a company that filed a $34 million Series D fund-raise just last week. Other than saying that all of the company's products will be geared toward more effective treatment for cancer, CEO Sean McDonald offered few details. Learn more about Precision Therapeutics on www.precisiontherapeutics.com.
June 17, 2010 | Permalink
Precision Therapeutics Raises $34M
Precision Therapeutics has raised $33.97 million of a targeted $35 million in a mixed securities offering, according to an SEC filing. Since 1996, Precision has raised $63 million in venture funding. Read the filing at http://tinyurl.com/3xxu6m7.
June 7, 2010 | Permalink
Study Suggests ChemoFx-Assisted Chemo Reduces Costs
A study published in the American Journal of Obstetrics and Gynecology (AJOG) demonstrated the cost savings realized through the use of the ChemoFx Drug Response Marker from Precision Therapeutics for assisting selection of treatment in recurrent ovarian cancer. The study demonstrated that ChemoFx-assisted chemotherapy may result in substantially reduced costs compared with empiric therapy. Learn more about ChemoFx at www.precisiontherapeutics.com.
June 4, 2010 | Permalink
Precision Therapeutics to Present Abstracts at AACR Meeting
Precision Therapeutics will present two abstracts at the upcoming American Association for Cancer Research (AACR) meeting in Washington, DC, April 17-21. Results described in both abstracts/posters indicate the potential utility of ChemoFx® and gene expression analysis in predicting individual patient response to chemotherapy. Learn more at www.chemofx.com.
April 16, 2010 | Permalink
Chemosensitivity/Resistance Assay Included As Part of the NCCN Principles of Chemotherapy
Precision Therapeutics announced that The National Comprehensive Cancer Network(R) (NCCN) recently updated the NCCN Clinical Practice Guidelines for Oncology (NCCN Guidelines) for Ovarian Cancer Including Fallopian Tube Cancer and Primary Peritoneal Cancer to include the use of chemosensitivity/resistance assays as part of the Principles of Chemotherapy section. While the NCCN Guidelines state that this technology is not intended to supplant standard of care chemotherapy, chemosensitivity/resistance assays are being used in some NCCN Member Institutions for decisions related to future chemotherapy ...more
March 2, 2010 | Permalink
Patients, Physicians Rely on ChemoFx to Support Treatment Decisions
ChemoFx(R), a test produced by Precision Therapeutics, is a drug response marker that shows promising results in helping to determine individual cancer treatment plans. ChemoFx has pioneered a method of identifying cancer cell response and sensitivity to various chemotherapeutic and biologic agents at the biopsy stage, providing a custom blueprint of a patient's probable tumor response before treatment begins. The national trend has patients acting as partners in making cancer treatment decisions, and ChemoFx can help provide another layer of information to those decisions. Learn more at www.ChemoFx.com.
February 4, 2010 | Permalink
ChemoFX May Predict Effectiveness of Cetuximab for Individual Colorectal Cancer Patients
Precision Therapeutics presentated data demonstrating the use of ChemoFX(R), a chemosensitivity assay, to predict the effectiveness of cetuximab (ERBITUX(R)) on the colorectal cancer cells of individual patients. Results of the study were consistant with the reported clinical response rate for cetuximab in colorectal carcinoma patients. A predictive assay such as this could give physicians the edge they need to determine if cetuximab is appropriate for a patient before administering the biologic. ChemoFx(R) provides valuable insights that can help guide physicians' treatment decisions and give both physicians and patients an edge against cancer. Learn more at http://www.precisiontherapeutics.com/.
June 4, 2009 | Permalink
Precision Therapeutics Raises $43 Million
Precision Therapeutics has secured $43 million in additional funding to expand the development and commercialization of ChemoFX, a diagnostic test that helps physicians select the most effective chemotherapeutic regiment for cancer patients. The round was led by Longitude Venture Partners, and included existing investors Draper Triangle, Adams Capital Management, Quaker BioVentures, Birchmere Ventures, and Techno Venture Management. The capital infusion will allow the company to expand its market penetration and pursue new programs concerning individualized therapy for cancer patients. The company has raised $105 million in VC funds in the last 10 years. Learn more at www.precisiontherapeutics.com.
November 11, 2008 | Permalink
Precision Therapeutics to Raise $30+ Million
Precision Therapeutics expects to close on more than $30 million in venture funding, the largest round raised in the company's 13-year existence. Investors in the round included existing firms (including Draper Triangle) as well as some new out-of-town backers. CEO Sean McDonald plans to increase his company's staff by 50% this year, and plans to use the money to hire across the board, and for continued research into the company's personalized cancer therapies.
July 30, 2008 | Permalink
Sean McDonald: E&Y Entrepreneur of the Year 2008 Regional Award Winner
Congratulations go out to Sean McDonald, CEO of Precision Therapeutics, as he received Ernst & Young's Entrepreneur of the Year(R) 2008 Award in the Applied Science Category in the Upstate New York, Western Pennsylvania and West Virginia region. This award recognizes outstanding entrepreneurs who are building and leading dynamic growth businesses. McDonald was selected by an independent panel of judges and the award was presented at a gala event at the Carnegie Music Hall in Pittsburgh on June 27, 2008.
July 3, 2008 | Permalink
Testing on Biopsy-Sized Specimens Allow Greater Utility in Breast Cancer
Precision Therapeutics has announced that results from the ChemoFx(R) Assay, a cell-based test that examines the response of a specific patient's tumor to various chemotherapies, correlate with pathologic complete response in breast cancer patients treated with neoadjuvant (pre-operative) chemotherapy. Data published in Anticancer Research show that the assay accurately predicted response to therapy 75% of the time. This study, done in conjunction with US Oncology, a leading cancer research and treatment network, represents the company's first publication in the breast cancer setting. Other major findings in the study addressed technical aspects of the assay, including the feasibility of performing the test on small amounts of tissue and the reproducibility of test results. Learn more at www.precisiontherapeutics.com.
July 1, 2008 | Permalink
ChemoFx May Improve Survival of Ovarian Cancer Patients
Results provided by the laboratory test ChemoFx(R) may improve survival among patients with ovarian cancer. These findings were published in the Journal of Clinical Oncology and will be presented at the upcoming 2008 annual meeting of the American Society of Clinical Oncology. Ovarian cancer is the most deadly gynecologic cancer in the United States. The study included 206 women with Stages II-IV ovarian cancer who were tested with ChemoFx and received at least one course of chemotherapy between 1997 and 2003. Sean McDonald, CEO of Precision Therapeutics, said "The goal of ChemoFx is to empower patients and physicians with additional diagnostic information to help determine the most appropriate course of therapy for each individual patient." Read more about ChemoFx at www.precisiontherapeutics.com.
May 29, 2008 | Permalink
Correlation Found Between ChemoFx(R) Assay and Improved OS in Patients with Ovarian Cancer
Precision Therapeutics announced that the ChemoFx(R) Assay, a cell-based test that examines the response of a specific patient's tumor to various chemotherapies, correlates with significantly longer overall survival (OS) in patients with primary ovarian cancer. Patients who received a treatment determined by ChemoFx to lead to the best tumor response had an overall survival 1.4 times longer than those receiving a treatment shown by ChemoFx to be non-responsive. Sean McDonald, CEO of PTI, said "The goal of ChemoFx is to empower patients and physicians with additional diagnostic information to help determine the most appropriate course of therapy for each individual patient." This retrospective, multi-center analysis is a published abstract at the American Society of Clinical Oncology (ASCO) annual meeting in Chicago and is available on the here.
May 21, 2008 | Permalink
Precision Therapeutics Adds 8 Million Convered Lives Under Contract
Precision Therapeutics has signed contracts with National Preferred Provider Network (NPPN), PlanCare America (PCA), RMSCO and SEIBA Inc. Sean McDonald, CEO of Precision Therapeutics, said, "Precision Therapeutics is pleased to add these organizations to our growing list of payor organizations under contract. Contracting with these leading organizations expands the number of covered lives, thus allowing our technology to be available to more patients and allowing for faster reimbursements of claims."
April 8, 2008 | Permalink
Precision Therapeutics Plans IPO
Precision Therapeutics, Inc. plans an initial public offering of its common stock, according to a regulatory filing Friday with the Securities and Exchange Commission. The company did not disclose the expected number or price range of shares to be offered, but indicated the offering price could total up to $80.5 million (that figure was an estimate used to calculate the registration fee and is subject to change). Precision develops tests to help physicians individualize cancer therapy. JP Morgan Securities, Piper Jaffray & Co, and JMP Securities are underwriting the offering.
August 28, 2007 | Permalink
Precision Theraeutics Adds to National Sales Force
Joe Flanagan has joined Precision Therapeutics as a sales representative covering Alabama, Georgia, Mississippi and Tennessee. Previously, Flanagan held sales positions at Novartis Oncology, Praecis Biotech and AMGEN. He is also actively involved with the American Cancer Society, the Alabama Prostate Cancer Foundation and the Exceptional Kids Foundation.
July 5, 2007 | Permalink
Matt Marshall Joins PTI as VP
Precision Therapeutics has named Matt Marshall as its Vice President of Sales and Marketing. Previously, Matt was the Senior Vice President of Sales for McKesson Corporation, where he led a team of more than 500 people to a 95% increase in new sales. In keeping with the company's increased sales and marketing effort, Matt's inital focus will be the expansion of the national sales team.
May 11, 2007 | Permalink
Biotech 2006 Brings Top Level Bio Science Execs Together
On October 16th & 17th, everyone who is anyone in the Bio Science space will gather at Biotech 2006: Imagine. Collaborate. Innovate. More than 80 speakers from the most dynamic bioscience companies in the Mid-Atlantic region will meet to discuss their experiences working to grow companies and bring new therapeutics, devices and diagnostic tests to patients. Sean McDonald, CEO of Precision Therapeutics, will sit on a panel covering The Next Big Thing: Personalized Medicine - The Impact of Biomarkers on Prediction and Prevention. Other program highlights include a multitude of workshops on business practices, science, global issues as well as a business development forum, an innovation corridor, an exhibit hall and a career fair. For more information, visit www.biotech2006.org.
October 5, 2006 | Permalink
Sean McDonald Offers Advice for VC-Seekers
If you're looking to raise money from a venture capital firm, Sean McDonald has some advice for you. In an article in the Pittsburgh Business Times, McDonald cautions business owners against being too close to their own ideas that they lose sight of the opportunity for the investor. "Your job is to give [the investors] investment opportunities where they have a very good chance of making exceptional returns on their money." And Sean should know, he's helped PTI attract nearly $50 million in venture funding over the past five years, including $20 million in February of this year.
June 9, 2006 | Permalink
Precision Therapeutics Closes on $20 Million in Venture Funding
Precision Therapeutics has raised $20 million in venture capital funds marking the region's first big funding round of 2006, according to an article in the Pittsburgh Business Times. The final amount was more than 40% above what the company originally sought when it began raising funds last summer. CEO Sean McDonald expects this to be its last venture round as they will use the money to market their tissue-based support tool that helps clinicians select the most effective chemotherapy regiment for individual patients, a move which should bring the company to profitability.
February 21, 2006 | Permalink
ChemoFx® Valuable Tool in Treating Cancer
A new study published in the International Journal of Gynecological Cancer (IJGC) shows that women with ovarian cancer lived three times longer without experiencing a worsening of the disease when treated with drugs determined to be effective in treating their individual tumor. The new study reports the results of a broad-based trial involving the selection and administration of chemotherapy drugs based upon the results of chemoresponse assay testing with the ChemoFx assay from Precision Therapeutics. ChemoFx is a cell-based test that quantifies an individual patient's likely tumor response to single or multiple chemotherapeutic agents. Read more at http://pittsburgh.dbusinessnews.com/shownews.php?newsid=61294&type_news=latest.
February 16, 2006 | Permalink
Precision Therapeutics Receives Patent
Precision Therapeutics received a patent for "Method for culturing and assaying cells, No. 6,933,129." The invention relates to screening and testing of active agents, including chemotherapeutic agents, to predict potential efficacy in individual patients in whom treatment with such agents is indicated. The invention also relates to a method for screening for expression of cellular markers, secreted factors or tumor antigens by cells for determining the disease state of the cells and for monitoring the potential efficacy of treatment agents.
October 13, 2005 | Permalink
Precision Therapeutics Seeks Capital
Sean McDonald, CEO of Precision Therapeutics, will soon be very busy. His company is set to start clinical trials at Yale Medical Center, and he just launched a $12 million venture capital round. The company recently received a $1.7 million reimbursement from Medicare - an important element to the fundraising campaign. Precision Therapeutics has raised more than $32 million in venture funds since McDonald came on board in 2001. McDonald expects to reach his fund-raising goal by the end of the year, tapping both new and existing investors.
August 16, 2005 | Permalink
PTI Works with Yale to Further Cancer Treatment
Precision Therapeutics has partnered with researchers at the Yale School of Medicine to combine PTI's ChemoFX assay with Yale's apoptosis assay to distinguish drugs that can stop the growth of and/or kill cancer tumors. The test will help physicians predict whether a cancer patient will respond to a specific drug. Recruitment for the clinical study wraps up this month, and results will be available about this same time next year.
June 7, 2005 | Permalink
VC rebound
Pittsburgh Business Times reports more than $46 million of venture capital flowed into Pittsburgh companies during Q3. We did our part with investments in BodyMedia and Precision Therapeutics. Jay thinks we're seeing a rebound.
October 28, 2003 | Permalink
