Predictive Technology Group Announces Lab Expansion and New Research and Development Facility for Subsidiary, Predictive Biotech
SALT LAKE CITY, March 28, 2019 (GLOBE NEWSWIRE) -- Predictive Technology Group, Inc. (OTC PINK: PRED), a leader in the use of data analytics for disease identification and subsequent precision therapeutic intervention, announces it has completed the buildout of a new production laboratory and R&D facility for its subsidiary company, Predictive Biotech.
The newly renovated 22,000 square foot facility, located in Research Park on the University of Utah’s campus, features an ISO 7 cleanroom and 18 ISO 5 production hoods. The lab meets Good Manufacturing Practice (GMP) and Good Tissue Practice (GTP) requirements. Environmental testing for the new lab is completed and the lab is expected to be on-line by the first week of April. The production space previously used for the production of Predictive Biotech products will transition into a new research and product development lab headed by Predictive’s Chief Laboratory Officer Doug Schmid, PhD.
“We are very pleased with completion of the lab expansion. This new facility allows us to continue to scale to meet production and sales needs. The lab has been under construction over the past few months and we look forward to bringing it on-line next week,” said Eric Olson, CEO of Predictive Biotech.
“Our new R&D facility allows us to accelerate product development and explore new areas that will add to all of our portfolio companies,” added Bradley Robinson, CEO of Predictive Technology Group.
About Predictive Biotech, Inc.Predictive Biotech, a Salt Lake City-based life sciences company formed in 2015, is a leader in human cell and tissue products for use in regenerative medicine. A growing national network of clinics, health systems, researchers and physicians leverage Predictive’s four main placental-derived and Wharton’s Jelly umbilical cord-derived products. Predictive Biotech’s current products are regulated by the FDA under 21 CFR part 1271 section 361 as minimally manipulated allografts intended for homologous use.
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 StatementsTo 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.Predtechgroup.com or contact Investor Relations:
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