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Predictive Technology Group Acquires Regenerative Medical Technologies, Inc.
SALT LAKE CITY, Oct. 16, 2018 (GLOBE NEWSWIRE) -- Predictive Technology Group, Inc. (OTC/PINK: PRED), a leader in the use of data analytics for disease identification and subsequent therapeutic intervention through precision therapeutic treatments, announces that it has acquired Regenerative Medical Technologies, Inc. (RMT). The acquisition includes an allogeneic stem cell product design, intellectual property, access to data and medical records from patients in 13 clinics, and clinical trial methodology for degenerative disc disease (DDD).
Concurrent with the acquisition of RMT, Rick Obray, M.D. joins as Chairman of the Predictive Clinical Advisory Board. Dr. Obray received his Doctor of Medicine degree from Johns Hopkins University School of Medicine. After completing a spine and musculoskeletal fellowship at Johns Hopkins, Dr. Obray completed an interventional pain fellowship at Mayo Clinic, making him one of the few physicians in the country to complete fellowship training and receive board certifications in both pain medicine and diagnostic imaging. Dr. Obray also currently serves as the director of Spine and Pain Medicine at Intermountain Health Care’s Dixie Regional Medical Center.
“We are pleased to complete the RMT acquisition and welcome Dr. Obray to the Predicitive team as we expand our clinical expertise and further advance Predictive’s DDD development platform,” said Bradley Robinson, CEO of Predictive Technology Group. “With his expertise and clinical experience, Dr. Obray provides insight into the latest in spinal care and treatment, clinical research, and real world perspective to multidisciplinary care for patients. As translational medicine is a highly interdisciplinary field, Dr. Obray’s experience brings tremendous value to Predictive in addressing both patient needs for new and more effective precision therapies while addressing concerns of all stake holders in healthcare.”
Dr. Obray stated, “It has been my longtime ambition to provide relief to patients through revolutionary approaches utilizing precision medicine. I am very excited to join the Predictive team in bringing disruptive technology and new treatment options to those suffering from degenerative disc disease.”
About Degenerative Disc Disease
Low back pain is a leading health problem, affecting 266 million individuals worldwide. It is one of the most prevalent reasons for a doctor’s visit, behind only the common cold. Billions of dollars are spent annually on treating degenerative disc disease, which is the most typical cause of back pain. More than 90% of people will experience an episode of debilitating back pain at some point in their lifetime.
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 available at Predtechgroup.com; Predrx.com and Predictivebiotech.com.
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.