48Hour Discovery Enters into Agreement with TumorGenesis

Edmonton-based start-up to develop personalized cancer therapy models:

EDMONTON (March 29, 2018)–48Hour Discovery Inc. (48HD) announced today that they have signed an agreement with Precision Therapeutics Inc. (NASDAQ:AIPT) and its wholly owned subsidiary, TumorGenesis Inc. 48HD will grant access to its patented molecular discovery technology, enabling TumorGenesis Inc. to develop precision cancer therapy models.

48HD uses genetic encoding of small molecule display libraries for rapid discovery of novel molecular interactions. 48HD will apply the technology to discover patient-specific biomolecules for the development of individualized health care solutions. “We are excited to be a part of this cutting-edge technology enterprise for personalized patient care.” says Ratmir Derda, Chief Executive Officer of 48HD. “New bioactive ligands and biomaterials are urgently needed to create a precise model of tumor that can be grown outside of human body yet maintain the original properties of a patient tumor, i.e. how tumor responds to drug treatment. These materials will be critical components of the future of precision medicine and drug discovery pipelines.”

About 48Hour Discovery Inc.

Founded in 2017, 48Hour Discovery Inc. aims to facilitate new drug discovery in the pharmaceutical and biotechnology industries by empowering research with advanced discovery platforms based on patented barcoding libraries and open-access data policies. 48HD is building a database of molecular interactions that will fuel precision pharmaceutical innovations and is committed to building new technologies that make ligand discovery faster, easier, and more transparent. 48Hour Discovery Inc. is headquartered in Edmonton, Alberta.



View source version on globalwire.com: https://globenewswire.com/news-release/2018/03/15/1438396/0/en/Precision-Therapeutics-Subsidiary-TumorGenesis-Announces-License-Agreement-with-48Hour-Discovery.htm

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