Renovaro Biosciences Responds To Predictive Oncology's Termination Of Merger Agreement, Asserting Breach Of Binding Contracts And Intent To Pursue Legal Remedies For Damages And Non-Compliance With Exclusive License Agreement

Renovaro Biosciences Inc. (NASDAQ:RENB), a TechBio leader focused on next-generation diagnostics, drug discovery, and genetically enhanced cancer therapies, today provided an update regarding its Definitive Agreement with Predictive Oncology Predictive Oncology, Inc. (NASDAQ:POAI) to initiate the previously announced integration of AI/ML platform technologies, core laboratory capabilities and business development efforts in Europe and the United States.

Renovaro entered into a binding agreement merger agreement with Predictive Oncology, Inc. ("POI") dated January 1, 2025, and supplemented with the Extension Agreement dated February 28, 2025 (collectively, the "Binding Agreements"). On April 3, 2025, Renovaro received an email from POI terminating the merger transaction. Renovaro's position is that POI must comply with the binding obligations thereunder and enter into an exclusive License Agreement as required in each of the Binding Agreements. Renovaro notes that POI is in breach of the Binding Agreements and has caused substantial damage to Renovaro for which it will seek redress. Failure to enter into an exclusive License Agreement on the terms set forth in the Binding Agreement on or before April 10, 2025, will cause Renovaro to seek all its legal remedies to recover all its damages and/or seek additional remedies to fully redress the breaches.