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UPDATE - Renovaro Inc. Announces Expedited Trial for 2025 Lawsuit to Enforce Binding Merger Agreement with Predictive Oncology

1. Renovaro Inc. filed a lawsuit against Predictive Oncology for breach of merger agreement. 2. Trial for the lawsuit is expedited to 2025 in Delaware Court. 3. Predictive Oncology's stock rose over 50% after disclosing the merger agreement. 4. Renovaro seeks specific performance and damages for alleged breaches. 5. Company aims to enhance precision medicine through advanced technologies.

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FAQ

Why Bullish?

The expedited trial may favor RENB’s position and restore market confidence, reflecting examples from past merger disputes where swift resolutions led to positive stock responses.

How important is it?

The outcome of the lawsuit directly impacts RENB’s merger ambitions and stock valuation, making it a crucial development.

Why Short Term?

The legal outcome is expected to affect RENB’s stock price soon due to the expedited timeline of the trial.

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POAI
May 22, 2025 15:12 ET  | Source: Renovaro Inc LOS ANGELES, May 22, 2025 (GLOBE NEWSWIRE) -- Renovaro Inc. (NASDAQ: RENB), a TechBio leader focused on next-generation diagnostics, drug discovery, and genetically enhanced cancer therapies, today announced that it has received a ruling to expedite a trial in 2025 for the lawsuit it filed on May 9, 2025, in the Delaware Court of Chancery against Predictive Oncology Inc. (NASDAQ: POAI), seeking to enforce a binding merger agreement executed on January 1, 2025. According to the Verified Complaint, the companies entered into a legally binding Letter Agreement pursuant to which Predictive Oncology would merge into Renovaro in exchange for a newly created class of preferred stock. Following the public disclosure of the agreement in a Form 8-K filed by POAI on January 6, 2025, POAI’s stock price rose by more than 50%. Renovaro alleges that Predictive Oncology breached the agreement’s exclusivity and good faith negotiation provisions by conducting a public offering of $545,000 in securities on February 19, 2025—despite contractual restrictions—and later attempting to terminate the agreement unilaterally on April 3, 2025, without engaging meaningfully in the negotiation of a definitive merger agreement. “This transaction was intended to create strategic and shareholder value for both companies. Unfortunately, Predictive Oncology has disregarded its contractual commitments,” said a Renovaro spokesperson. “We are pursuing legal remedies to enforce our rights and protect our shareholders’ interests.” The litigation seeks specific performance, injunctive relief, and damages for the alleged breaches. The case is pending in the Delaware Court of Chancery under Case No. 2025-0509. About Renovaro Inc. Renovaro https://renovarogroup.com/ aims to accelerate precision and personalized medicine for longevity powered by mutually reinforcing AI and biotechnology platforms for early diagnosis, better-targeted treatments, and drug discovery. Renovaro Inc. includes RenovaroBio with its advanced cell-gene immunotherapy company and RenovaroCube that is leveraging AI for multi-omic diagnostics and drug development, and BioSymetrics which specializes in contingent AI for precision neurology. For more information, visit www.renovarogroup.com. Forward-Looking Statements This release contains forward-looking statements, including those relating to the pending litigation and the proposed merger. These statements involve risks and uncertainties and are subject to change based on future developments. Renovaro undertakes no obligation to update any forward-looking statements except as required by law. Investor Relations Chris TysonExecutive Vice PresidentMZ Group - MZ North America949-491-8235RENB@mzgroup.uswww.mzgroup.us For media inquiries, please contact: karen@renovarocube.com

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