Mateon Completes Its Acquisition of PointR Data Inc.

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According to a new press release, “Mateon Therapeutics, Inc. announced today that they have completed their acquisition of PointR Data Inc. (PointR), a privately-held, developer of high performance cluster computer and artificial intelligence technologies. This will create a publicly traded artificial intelligence (AI) and blockchain driven immuno-oncology company to apply machine learning and AI approaches to its pipeline of first in class TGF-β immunotherapies for late stage cancers such as gliomas, pancreatic cancer and melanoma. Leveraging its deep partnership with IBM, the PointR team will combine its own AI Vision technology with industry standard Blockchain to transform drug manufacturing and real-world evidence monitoring for clinical trials. The combined system has the potential to automatically record individual key steps in cGMP manufacturing operations including the flow of people, raw materials and operations in trusted perpetual blockchain ledgers that are indisputable.  This has the potential to create much more efficient GMP manufacturing operations while simultaneously improving reliability and data security.”  

The release continues, “As the result of the acquisition, Saran Saund, former CEO of PointR, will assume the role of Chief Business Officer (CBO)/ General Manager of AI Division at Mateon and Burcak Beser, former CTO of PointR, will assume the role of Sr. VP/CTO of AI Division at Mateon. Silicon Valley entrepreneur, Saran has been founder, CEO and GM at startups and public companies. Passionate about applying technology innovations to real world markets, he successfully founded an AI consortium to accelerate enterprise adoption of AI which engaged leading universities and technology vendors. A startup veteran, his track record includes senior leadership roles at companies that were acquired by leaders such as Marvell (MRVL) and Qualcomm (QCOM). His startup Cybercash (CYCH) had a successful IPO on NASDAQ. Saran started his career at Xerox PARC pushing 1’s and 0’s as a software engineer.”

Read more at Globe Newswire.

Image used under license from Shutterstock.com

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