SALT LAKE CITY, Sept. 11, 2018 (GLOBE NEWSWIRE) -- Predictive Technology Group, Inc. (OTC/PINK: PRED), a life-sciences technology company, announces its subsidiary Predictive Biotech has completed phase one of its new laboratory facility. The new lab, located in Research Park on the University of Utah campus, features an ISO clean room and meets Good Tissue Practices (GTP) and Good Manufacturing Practices (GMP) requirements for the company’s human cell and tissue products (HCT/Ps). The lab, which opened today, houses more than 30 employees.
“We are very pleased with the new facility,” said Eric Olson, Predictive Biotech’s CEO. “Phase one of two effectively triples our manufacturing capabilities. The expanded tissue processing capacity of the lab allows Predictive to meet rapidly growing consumer demand.”
Phase two of the facility is expected to be open in early 2019 and will double again the total laboratory production capabilities.
About Predictive Biotech, Inc.
Predictive Biotech, a Salt Lake City, UT life sciences Company formed in 2015, is a leader in human cell and tissue products. A growing national network of clinics, health systems, researchers and physicians leverage Predictive’s four main placental and Wharton’s Jelly umbilical cord-derived products. Predictive Biotech current products are regulated by the FDA under 21 CFR part 1271 section 361 as minimally manipulated allografts intended for homologous use. Additional information is at www.predictivebiotech.com
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 wholly owned subsidiaries Predictive Therapeutics and Predictive Biotech. 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 at www.predictivetechnologygroup.com, www.predrx.com and www.predbiotech.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.
Contacts:
At the company
Michael Herbert
mherbert@predictivebiotech.com
Investors
LHA Investor Relations
Jody Cain jcain@lhai.com
Kevin Mc Cabe kmccabe@lhai.com
310-691-7100