- Recent study reports CAGR of 9.7% in precision medicine space.
- Predictive Oncology focused on use of data, artificial intelligence to develop personalized cancer therapies.
- One of POAI’s primary projects is building multi-omic predictive models of tumor drug response
A recent study of the global precision medicine market indicates a bright future for the industry, especially for U.S.-based companies focusing on cancer research, such as Predictive Oncology Inc. (NASDAQ: POAI). The study reported a CAGR of 9.7% in the sector, with North America dominating the market and oncology expected to hold the highest market.
“Precision medicine, a combination of molecular biology techniques and systems biology, is an emerging approach for disease treatment and prevention,” the Mordor Intelligence study stated. “The market growth for this approach is gaining momentum, as it takes into account individual variability in genes, environment and lifestyle for each person, while developing drugs and vaccines.”
The report goes on to note that North America currently dominates the precision medicine market and is “expected to continue its stronghold for a few more years.” The United States holds the largest market share on the continent, at least in part due to the Precision Medicine Initiative (“PMI”), launched by former President Barack Obama.
This initiative was designed to revolutionize medicine and generate the scientific evidence needed to move the concept of precision medicine into everyday clinical practice. The PMI enjoys widespread support, including ongoing efforts through the Department of Veteran’s Affairs (“VA”), the Food and Drug Administration (“FDA”), the Office of the National Coordinator for Health IT and the Office for Civil Rights.
The study also reports that “precision medicine applications are primarily directed toward better treatment against oncological diseases, with an estimated more than 30% market dominance over other segments. . . . The high support from the government through funding and rapid growth of genomic analysis are expected to augment the growth of the precision medicine market at a fast rate, over the forecast period.”
This analysis bodes well for Predictive Oncology, an industry leader focused on the use of data and artificial intelligence (“AI”) to develop predictive models of tumor drug response and outcome, which can be used to help oncologists individualize current cancer therapies for the patients as well as help researchers find new cancer therapies. The Mordor report noted that key factors propelling the growth of the precision medicine market include increasing online collaborative forums, increasing efforts to characterize genes and advancements in cancer biology — all of which POAI is involved in.
“The fundamental concept of precision medicine is to understand the genetic makeup and difference at a population level, and further at an individual level, in order to customize a drug that targets a particular gene type,” the report observed. “Hence, sequencing or characterizing genes is the most important method to gain information about genes and their possible mutations.”
One of POAI’s primary projects, conducted through its subsidiary Helomics, is building multi-omic predictive models of tumor drug response and outcome using a its unique proprietary TumorSpace knowledge base of 150,000 tumor drug response profiles gathered from over 15 years of clinical testing. Using artificial intelligence, the company is leveraging this data to build predictive models of tumor drug response. These models offer researchers in pharma, biopharma and diagnostic companies actionable information that drives the development of new precision therapies, companion diagnostics, biomarkers and helps design better-targeted trials — all with the end goal of helping patients diagnosed with cancer.
POAI is bringing precision medicine, or tailored medical treatment using the individual characteristics of each patient, to the treatment of cancer. Through its Helomics division, the company leverages its unique, clinically validated, patient-derived (“PDx”) smart tumor profiling platform to provide oncologists with a road map to help individualize therapy. In addition, the company is leveraging artificial intelligence and its proprietary database to build AI-driven models of tumor drug response to improve outcomes for the patients of today and tomorrow.
For more information about Predictive Oncology, please visit 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
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