Precision Biopsy Moves into New Facility to Ramp Progress While Cultivating Unique Collaboration between Academia and Industry

AURORA, Colo.--()--The Fitzsimons Redevelopment Authority (FRA) announced that Precision Biopsy is the first commercial company moving into their new Bioscience 2 building, which opened in June. This custom-built space allows Precision Biopsy to expand from the pre-built lab they occupied in Bioscience 1 as the company initiates a global commercialization strategy for its real-time tissue classification technology used in prostate biopsy procedures.

Located adjacent to the Anschutz Medical campus on property that the University of Colorado purchased from the FRA, Bioscience 2 is a new multi-tenant building spanning more than 112,000 square feet that will combine university activities with commercial uses. The facility’s strategic location will foster a unique network between students and industry, while achieving the mission of the FRA and the university to evolve the historic army medical center into one of the world’s most forward-looking bioscience districts.

“We are very excited to be the first company to move into this new facility. This space will allow us to expand our resources to bring our ClariCore Optical Biopsy System™ to market, providing us with the opportunity to potentially help the millions of patients who undergo prostate biopsy procedures each year,” said Amir Tehrani, Chief Executive Officer of Precision Biopsy.

University of Colorado tenants will occupy the first two floors of Bioscience 2 with the University’s Bioengineering program and two other university entities, while the third and fourth floors will be home to FRA commercial organizations.

“Precision Biopsy exemplifies the type of innovative businesses successfully growing in the Fitzsimons Innovation Campus today. We will continue to create an environment that encourages the growth of a wide variety of companies that can thrive and take advantage of the adjacency of the Anschutz Medical Campus and proximity to DIA,” said Steve VanNurden, President & CEO of Fitzsimons Redevelopment Authority.

“The Precision Biopsy ClariCore™ system exemplifies the kind of scientific breakthrough that aims to markedly improve the clinical path and outcome for prostate cancer patients while saving inordinate costs to the healthcare system. I am thrilled to contribute to their tremendous progress,” said Dr. E. David Crawford, Professor of Surgery, Urology, and Radiation Oncology, and head of the Section of Urologic Oncology at the University of Colorado, who also serves as Precision Biopsy’s primary investigator. “This is a fine example of industry and academia working closely in collaboration to solve a major issue.”

About Precision Biopsy
Precision Biopsy, LLC, a subsidiary of Allied Minds (LSE: ALM), aims to develop and commercialize a novel technology for the accurate real-time classification of tissue during prostate biopsies – a procedure that is performed in an estimated 1.75 million patients each year in the U.S. and Europe. The company’s diagnostic technology, licensed from the University of Colorado, uses advanced spectroscopy imaging techniques in combination with tissue biopsy. After developing a first-generation system in 2011, Precision Biopsy evaluated human subjects in 2012. The success of that first human study led Precision Biopsy to focus on developing its next-generation product, the ClariCore Optical Biopsy System™, as it prepares for global commercialization. More information about Precision Biopsy can be found at: www.precisionbiopsy.com.

About the Fitzsimons Innovation Campus

The Fitzsimons Innovation Campus exists to house enterprises that design, test and produce high-value, revolutionary commercial products that can spring from the collaborations with the medical-university and clinical trials capabilities offered within the Anschutz Medical Campus. The Fitzsimons Innovation Campus is already home to more than 45 biomed/biotech and applied science companies, and is attracting interest from highly specialized drug, device and R&D commercial entities. The Fitzsimons Innovation Campus includes space for proof-of-concept, accelerators, growth companies, tech transfer and shared work spaces as well as educational programs to advance specific skill sets for the innovation-driven economy. Also in the master plan are several retail, hotel and residential properties—places for entrepreneurs to work, live and network. For more information visit: www.fitzscience.com.

About Allied Minds
Allied Minds is an innovative U.S. science and technology development and commercialization company. Operating since 2006, Allied Minds forms, funds, manages and builds products and businesses based on innovative technologies developed at leading U.S. universities and federal research institutions. Allied Minds serves as a diversified holding company that supports its businesses and product development with capital, central management and shared services. More information about the Boston-based company can be found at www.alliedminds.com.

Allied Minds Forward-Looking Statement
This press release contains statements that are or may be forward-looking statements, including statements that relate to the company’s future prospects, developments and strategies. The forward-looking statements are based on current expectations and are subject to known and unknown risks and uncertainties that could cause actual results, performance and achievements to differ materially from current expectations, including, but not limited to, those risk and uncertainties described in the risk factors included in the company’s regulatory filings. These forward-looking statements are based on assumptions regarding the present and future business strategies of the company and the environment in which it will operate in the future. Each forward-looking statement speaks only as at the date of this press release. Except as required by law, regulatory requirement, the Listing Rules and the Disclosure and Transparency Rules, neither the company nor any other party intends to update or revise these forward-looking statements, whether as a result of new information, future events or otherwise.

Contacts

For Precision Biopsy, LLC
Alisa Anderson, 303-625-1082
aanderson@pure-brand.com

Release Summary

The Fitzsimons Redevelopment Authority (FRA) announced that Precision Biopsy is the first commercial company moving into their new Bioscience 2 building, which opened in June.

Contacts

For Precision Biopsy, LLC
Alisa Anderson, 303-625-1082
aanderson@pure-brand.com