Mateon Therapeutics, a California-based biopharmaceutical company, has completed its acquisition of PointR Data, a technology company focused on AI and other advanced technologies.
This led to the formation of a new publicly traded business that aims to use AI and blockchain to improve treatments for gliomas, pancreatic cancer, melanomas and other diseases.
With the deal finalized, Saran Saund, CEO of PointR Data, will now serve as Mateon’s chief business officer and general manager of its AI division.
“With the completion of the acquisition of PointR, we will be working hard at the commercialization and monetization of PointR Data technologies,” Saund said in a prepared statement. “Since the signing of the definitive agreement in August, we have been exploring implementation of AI and Blockchain technologies into Mateon’s workflow—in particular the application of PointR Data Vision AI in pharmaceutical manufacturing and patient monitoring. We look forward to announcing multiple collaborations in the near future.”
Burcak Beser, chief technology officer of PointR Data, will now serve as Mateon’s senior vice president and chief technology officer of its AI division.
“The PointR acquisition is clearly transformative for Mateon Therapeutics,” Vuong Trieu, PhD, chairman and CEO of Mateon, said in the same statement. “We welcome the addition of Saran Saund and Burcak Beser to our management team, their engagement greatly enhances our ability to move forward as the biotech company of the future.”