NEW YORK, Aug. 12, 2020 (GLOBE NEWSWIRE) -- PD Theranostics, Inc., provider of AI-driven tools to improve clinical decision-making in serious diseases, and a Laidlaw Venture Partners portfolio company, today issued the following investor update.

Dear PD Theranostics Investors, Partners and Friends,

We hope that this update finds you safe and well. Please find the following investor update below.

Recent milestones

• PDTx recently closed its series A round
• Based on the team’s continued efforts, the Department of Defense provided a grant to help support PDTx’s research efforts
• PDTx recently signed a lease for a building across the street from the Vaccine and Immunotherapy Center (VIC) at Mass General. The value of the proximity to the labs cannot be overstated, given that our key scientific personnel are at the VIC daily
• PDTx’s Hyperion Imaging Mass Cytometry (IMC) system will be installed in our space this month. Having this technology in house will exponentially increase the amount of data we can generate to drive our artificial intelligence (AI) efforts. Previously, we had to rent small amounts of time on a machine at Yale (a 2+ hour drive away) …. the only place in New England where you could do so
• Basic AI work has been completed to integrate the IMC data with Mass Spectroscopy data to begin defining clinical course and optimal treatments
• Additional AI work has been done to determine the best possible paths to optimize diagnosis, treatment, and outcomes of various disease states
• New data in both prostate cancer and diabetic foot ulcers continues to be promising

What is next?

• Execute a Sponsored Research Agreement with Mass General for additional research programs
• Hire a tech to manage the Hyperion data generation
• Develop a more robust AI capability (more data = better programming)
• Add an additional board member
• Involve additional clinicians at Mass General / Harvard in tissue sampling / diagnosis studies
• We believe that PDTx’s data analysis and imaging workflows will continue to lead to new and valuable intellectual property

PD Theranostics Chief Executive Officer, Patrick Gallager stated, “The past several months have been incredibly productive at PDTx. We have clearly made both tangible and measurable progress that we believe positions us to achieve key milestones, which are expected to enhance shareholder value.”

"Artificial intelligence, when used to enhance interpretation of results from cutting edge imaging technology, has the potential to substantially improve diagnosis, treatment and outcomes of patients with a range of diseases," stated James Ahern, Founder Laidlaw Venture Partners.

About PD Theranostics, Inc.

PD Theranostics is developing AI guided algorithms while leveraging proprietary workflows and methods utilizing imaging-based methodologies to diagnose and guide clinical decision making around specific targeted therapies and their efficacy in human disease states, including cancer, infectious diseases and complications of diabetes including diabetic foot ulcers. Please visit www.pdtheranostics.com for more information.