--- title: "Renovaro (now Lunai Bioworks) signs binding letter to buy Predictive Oncology" url: "https://aibio.space/news/renovaro-now-lunai-bioworks-signs-binding-letter-buy-predictive/" publisher: "aibio.space (Biotech Investor Relations News)" date: "2025-01-07" section: "Mergers" tickers: "NASDAQ:LNAI" source: "https://www.sec.gov/Archives/edgar/data/1527728/000173112225000037/e6266_ex99-1.htm" summary: "Renovaro plans to pay for Predictive Oncology with preferred stock in an all-stock deal. The letter of intent sets out the main terms, and the release give" --- By the aibio.space news desk. Sources - [Lunai Bioworks Inc. 8-K (2025-01-07)](https://www.sec.gov/Archives/edgar/data/1527728/000173112225000037/e6266_ex99-1.htm) - [Lunai Bioworks Inc. 8-K (2025-02-28)](https://www.sec.gov/Archives/edgar/data/1527728/000173112225000312/e6390_ex99-1.htm) - [Lunai Bioworks Inc. 425 (2025-03-06)](https://www.sec.gov/Archives/edgar/data/1527728/000173112225000356/e6406_425.htm) [LNAI](https://aibio.space/companies/lunai-bioworks/) 2025-01-07 # Renovaro (now Lunai Bioworks) signs binding letter to buy Predictive Oncology Tickers [LNAI](https://aibio.space/companies/lunai-bioworks/) Renovaro plans to pay for Predictive Oncology with preferred stock in an all-stock deal. The letter of intent sets out the main terms, and the release gives no exchange ratio or value for the shares. ## Key facts - **Company**: Lunai Bioworks Inc. (NASDAQ: LNAI) - **News type**: Mergers - **Primary source**: [Lunai Bioworks Inc. 8-K (2025-01-07)](https://www.sec.gov/Archives/edgar/data/1527728/000173112225000037/e6266_ex99-1.htm) *A city skyline in morning haze. CC0, via rawpixel. The picture shows the field, not the companies named.* Renovaro Inc., now named Lunai Bioworks Inc., said on January 6, 2025 that it had entered into a binding letter of intent to acquire Predictive Oncology (NASDAQ: POAI) in an all-stock transaction. A letter of intent sets out the main terms before a final merger agreement is signed. ### The terms the release gives Renovaro will acquire 100% of Predictive Oncology's common shares through the issuance of preferred stock. The release calls the letter binding. It does not give an exchange ratio, a value for Predictive Oncology's shares, a closing date or the terms of the preferred stock. It also does not say what Renovaro's existing shareholders would give up in ownership. Predictive Oncology is headquartered in Pittsburgh and describes itself as a company that uses artificial intelligence and machine learning to speed early biomarker and drug discovery. The release says that on November 13, 2024, its board, working with a strategic advisor, began a process to evaluate a broad range of strategic alternatives. On December 3, 2024, it said it was in productive discussions with several interested parties. ### The strategic case Renovaro's chief executive, David Weinstein, says "Predictive Oncology will enhance our capabilities by assisting oncologists with patient specific diagnostic and therapeutic clinical support data." The release presents the acquisition as a way to combine Predictive Oncology's drug response modeling with Renovaro's liquid biopsy work in early cancer detection and monitoring. Predictive Oncology brings a biobank of more than 150,000 tumor samples, 200,000 pathology slides and what the release calls decades of longitudinal drug response data. Renovaro says that data would support biomarker discovery, clinical trial optimization and decision support tools across several cancer types. The release says the data would help advance AI, using high-speed computing provided through a collaboration with Nebul. Weinstein says Predictive Oncology's AI platform has been proven to predict tumor-drug response with 92% accuracy. He adds that he believes it will allow Renovaro to launch a decision support platform for medical oncologists in 2025. The release does not describe the study behind the 92% figure, its sample size, or whether anyone outside the companies checked it. It calls the platform scientifically validated, but gives no reference. The release also describes a planned test that would help physicians individualize cancer therapy. It says the combined company would operate a CLIA, NYSDOH and CA-certified laboratory, and that Predictive Oncology's infrastructure would help Renovaro develop and roll out diagnostic tests in Europe. It adds that a chemosensitivity and resistance assay for predicting patient response to chemotherapy would be introduced to European markets. Predictive Oncology's chief executive, Raymond Vennare, says the combination opens diagnostic, therapeutic and drug discovery possibilities that the company would not otherwise have considered. The release's long-term section describes a global point-of-care solution for cancer and a first-in-class, full-stack clinical service. Both are company descriptions of a future plan, and neither is backed by a clinical result in the release. ### What the release does not say The release has no financial statements for either company. It gives no cash balances, no net loss figures and no debt. A deal paid in preferred stock also raises questions about future dilution for Renovaro's common shareholders, and the release does not address them. It gives no timetable, no list of closing conditions and no word on the stockholder or regulatory approvals a deal like this would need. Renovaro describes itself as a pioneer in cancer diagnostics and therapeutics powered by artificial intelligence. It says its RenovaroBio unit runs an advanced cell-gene immunotherapy company, and that RenovaroCube uses AI for multi-omic diagnostics. The release does not say how those businesses would fit alongside the Predictive Oncology assets after closing, or how the combined group would fund the laboratory and biobank operations it describes. The release names no legal counsel and no financial adviser for either company, and it says nothing about a break-up fee or what happens if the letter of intent lapses. [Report an error](https://aibio.space/reputation/#correction) ## Companies in this story LNAI Lunai Bioworks Inc. NASDAQ ยท United States Open the starter desk ## More in Mergers Mergers ### [InMed sets November 5 record date for CVRs tied to Mentari merger](https://aibio.space/news/inmed-sets-november-5-record-date-cvrs-tied-mentari-merger/) Oct 27, 2026 Mergers ### [Rallybio declares estimated $82.7 million cash distribution tied to Avenzo merger](https://aibio.space/news/rallybio-declares-estimated-82-7-million-cash-distribution-tied-avenzo/) Oct 26, 2026 Mergers ### [Skye Bioscience files preliminary proxy for its Redx Pharma acquisition](https://aibio.space/news/skye-bioscience-files-preliminary-proxy-redx-pharma-acquisition/) Oct 26, 2026 --- Source page: https://aibio.space/news/renovaro-now-lunai-bioworks-signs-binding-letter-buy-predictive/. Facts in aibio.space stories are checked against company filings and releases; opinion is labelled. Cite as: aibio.space, "Renovaro (now Lunai Bioworks) signs binding letter to buy Predictive Oncology", 2025-01-07, https://aibio.space/news/renovaro-now-lunai-bioworks-signs-binding-letter-buy-predictive/