Kiromic Stock Surges On Acquisition Of InSilico Solutions For Undisclosed Sum

  • Kiromic Biopharma Inc KRBP acquired InSilico Solutions, a bioinformatics and artificial intelligence software provider. The financial terms were not disclosed.
  • With this acquisition, Kiromic will bring in-house a team of experts in bioinformatics and AI to strengthen its AI technology with the capability to select the optimal bio-markers needed for immunotherapeutics such as CAR-T cell therapy for solid tumors.
  • Many CAR-T developers are still developing their CAR-T with biomarkers from decade-old target libraries, the Company said in its press release.
  • The transaction will allow significant advancements in computational technologies throughout the development process, from discovery to manufacturing and clinical trials.
  • Recently, the Company closed a public offering of $40M.
  • Price Action: KRBP shares are up 16% at $3.62 during the premarket session on the last check Tuesday.
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