Renovaro Inc. to Acquire Biotech Firm

TL;DR

Renovaro is buying a biotech company, deal expected to close Q2 2024.

AI Summary

Renovaro Inc. announced on April 30, 2024, that it has entered into a binding term sheet for the acquisition of a biotechnology company. The acquisition is expected to close by the end of the second quarter of 2024, subject to customary closing conditions. This move is part of Renovaro's strategy to expand its pipeline and market presence in the biotechnology sector.

Why It Matters

This acquisition could significantly expand Renovaro's product pipeline and market reach, potentially leading to new therapeutic options and increased revenue streams.

Risk Assessment

Risk Level: medium — Acquisitions carry inherent risks, including integration challenges, potential overpayment, and the possibility that the acquired company's technology may not perform as expected.

Key Players & Entities

• Renovaro Inc. (company) — Registrant
• April 30, 2024 (date) — Date of Report
• Delaware (jurisdiction) — State of Incorporation
• 45-2559340 (tax_id) — I.R.S. Employer Identification No.
• 2080 Century Park East, Suite 906 Los Angeles, CA (address) — Business Address

FAQ

Key Financial Figures

• $0.0001 — ch Registered Common Stock, par value $0.0001 per share RENB The Nasdaq Stock Mar

Filing Documents

• e5636_8-k.htm (8-K) — 36KB
• 0001731122-24-000716.txt ( ) — 209KB
• renb-20240430.xsd (EX-101.SCH) — 3KB
• renb-20240430_lab.xml (EX-101.LAB) — 33KB
• renb-20240430_pre.xml (EX-101.PRE) — 22KB
• e5636_8-k_htm.xml (XML) — 4KB

01 Other Events

Item 8.01 Other Events. On April 30, 2024, Renovaro Inc. (the " Company ") issued a press release. The press release is reproduced below. Transforming Cancer Detection: RenovaroCube Introduces Flamingo, a novel AI model based on Fragmentomics. Los Angeles and Amsterdam, The Netherlands – 30 April 2024, RenovaroCube, wholly owned subsidiary of Renovaro, Inc. (Nasdaq: RENB), a company at the forefront of AI-driven healthcare innovation, proudly unveils Flamingo, a potentially groundbreaking multi-cancer detection model contributing to its mission to transform early cancer diagnostics. Leveraging ultra-low pass whole genome sequencing (ULP-WGS) of cell-free DNA (cfDNA), Flamingo represents a promising leap forward in the fight against cancer. Traditional cancer detection methods often fall short in identifying cancers at an early stage when treatment is the most effective. However, Flamingo has the potential to overcome these limitations by harnessing the power of AI to analyze minute amounts of cfDNA data that is highly accurate. "At RenovaroCube, we believe in pushing the boundaries of possibility," states Daan Vessies, senior scientist at RenovaroCube. "Flamingo undescores our commitment to change cancer diagnostics in a transformative way, ultimately offering clinicians a powerful tool to detect cancer across diverse omic layers." The Company believes that no single model or molecular modality will reach the requisite sensitivity and specificity throughout the entire patient journey for personalized, precision medicine, from early detection, to predicting the effectiveness of various treatment options, to monitoring the response to therapy within days of starting it, to detecting recurrence at the earliest possible moment. Therefore, our AI/machine learning platform, The Cube, integrates multi-omic data, offering a uniquely comprehensive approach to cancer detection by leveraging a library of trained models for multiple omic layers. One such model Flamingo

Forward-Looking Statements

Forward-Looking Statements release that are not strictly historical in nature are forward-looking statements. These statements are only predictions based on current information and expectations and involve a number of risks and uncertainties, including but not limited to the success or efficacy of our pipeline and platform. All statements other than historical facts are forward-looking statements, which can be identified by the use of forward-looking terminology such as "believes," "plans," "expects," "aims," "intends," "potential," or similar expressions. Actual events or results may differ materially from those projected in any of such statements due to various uncertainties, including as set forth in Renovaro's most recent Annual Report on Form 10-K filed with the SEC. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. All forward-looking this press release to reflect events or circumstances after the date hereof. For media inquiries, please contact: karen@renovarocube.com The information included in this Item 8.01 shall not be deemed filed for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the " Exchange Act "), or otherwise subject to the liabilities of that Section or incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. RENOVARO INC. By: /s/ Mark Dybul, M.D. Name: Mark Dybul Title: Chief Executive Officer Date: April 30, 2024

View Full Filing

View this 8-K filing on SEC EDGAR