Wednesday, June 26, 2024
BioAI, an emerging biotech company applying multimodal artificial intelligence (AI) to novel biomarker discovery, development, and diagnostics, announced a strategic collaboration with Genomic Testing Cooperative (GTC), a leading provider of molecular diagnostics for solid tumors and hematologic malignancies. This collaboration leverages the AI capabilities of both companies to deliver innovative solutions that meet the needs of pharmaceutical companies and clinicians, ultimately enhancing patient care in oncology. GTC will become an early technology access member of BioAI's global ecosystem of clinical laboratories.
Goals of the collaboration include:
Thomas Colarusso, CEO of BioAI, stated:
"BioAI is excited to partner with leaders in clinical laboratory services and diagnostics such as GTC to support the development, validation and future deployment of novel AI-based tests. GTC is a perfect partner for us since they have a strong track record of developing and launching new clinical biomarker tests for primary care and supporting biopharma research and clinical trials to improve patient care and drive therapy decisions."
Jeff Owen, Vice President, Marketing, stated: "GTC is delighted to partner with BioAI, their digital pathology technology strengthens our product portfolio to pharmaceutical clients and will help us to demonstrate the potential of our digital and molecular sample bank in the development of clinically useful comprehensive biomarkers.
We recognize that AI algorithms in digital pathology when combined with molecular profiling advance our capability of developing biomarkers that can be used by all pathologists."
About BioAI
BioAI is a leading provider of multimodal AI for digital health in precision medicine, offering world-leading machine learning technology to develop digital biomarkers and H&E based predictive models. They partner with leading pharmaceutical, biotechnology, clinical laboratories, and academic cancer centers around the world. With the PredictX Platform, BioAI aims to revolutionize personalized medicine by improving drug efficacy and patient outcomes. For more information about BioAI and its innovative machine learning technologies, visit https://bioaihealth.com.
About Genomic Testing Cooperative, LCA
Genomic Testing Cooperative (GTC) is a privately-owned molecular testing company located in Lake Forest, CA. The company operates based on a cooperative (co-op) business model. Members of the co-op hold type A shares with voting rights. The company offers its patron members a full suite of comprehensive genomic profiling based mainly on next generation sequencing. Molecular alterations are identified based on rigorous testing with the aid of specially developed algorithms to increase accuracy and efficiency. The clinical relevance of the detected alterations is pulled from numerous databases using internally developed software. Relevance of findings to diagnosis, prognosis, selecting therapy, and predicting outcome are reported to members. The co-op model allows GTC to make the testing and information platform available to members at a lower cost because of a lower overhead. For more information, please visit https://genomictestingcooperative.com/
Forward Looking Statements
All the statements, expectations and assumptions in this press release are forward-looking. Such forward-looking statements are based on the GTC management's current expectations and include statements regarding the value of comprehensive genomic profiling, RNA profiling, DNA profiling, algorithms, therapy, the ability of testing to provide clinically useful information. All information in this press release is as of the date of the release, and GTC undertakes no duty to update this information unless required by law.
Media Contacts:
Ashlyn Chosen
Director of Marketing
BioA.I.
Jeff Owen
VP, Marketing
Genomic Testing Cooperative
Source: prnewswire.com
