Funding profile · Preclinical drug testing tools

zPREDICTA

Almost no venture capital on record, no Form D under its own name, and a $10.0 million all-cash exit to a Nasdaq buyer that impaired the entire purchase price within thirteen months. The numbers come from the buyer’s filings.

$10.02MCash consideration at closing, November 24, 2021
$220KTotal private funding on record before the sale, aggregator data
$352,379zPREDICTA revenue under the buyer, year ended December 31, 2022
$0Carrying value of the acquired goodwill and intangibles at December 31, 2022

Data as of September 24, 2026. Company-reported figures are labeled.

Rounds at a glance

When Round Amount Investors Source
Aug 2015 Y Combinator, Summer 2015 batch Not disclosed Y Combinator Aggregator
2016 Seed, convertible note Not disclosed Angel syndicate via the Propel(x) platform Platform account
2015 to 2021 All private rounds combined $220,000 across 2 rounds Not named Aggregator
2014 to 2021 Federal grants $0 None found in NIH, NSF or SBIR records Not found
Nov 24, 2021 Acquisition by Predictive Oncology Inc, Nasdaq POAI $10,015,941 cash Reverse triangular merger; Golden Gate Acquisition, Inc. as merger sub SEC 8-K

What the filings show

Predictive Oncology Inc. · Form 8-K · filed Dec 1, 2021

Event date
Nov 24, 2021
Structure
Merger of a wholly owned subsidiary into zPredicta, Inc.
Consideration
Approximately $10.0 million in cash, subject to working capital adjustment
Management
Julia Kirshner signed an employment agreement at closing and became president of the zPREDICTA division
Filing
SEC EDGAR, CIK 0001446159

Purchase price allocation · Form 10-K for fiscal 2021 · filed Mar 31, 2022

Cash consideration
$10,015,941
Assets acquired
Cash $425,727 · receivables $76,549 · prepaid $25,733 · intangibles $3,780,000
Liabilities assumed
Accrued expenses $408,825 · deferred tax liability $661,658 · deferred revenue $79,375
Intangibles
Developed technology $3,500,000 over 10 years · customer relationships $200,000 over 10 years · trade name $80,000 over 4 years
Goodwill
$6,857,790, later adjusted to $7,231,093
Pro forma
Combined 2021 revenue $2,429,786; combined 2020 revenue $1,815,560

Impairment · Forms 10-K for fiscal 2022 and 2023

Goodwill
Fully impaired as of June 30, 2022; loss of $7,231,093
Method
Discounted cash flow plus market comparisons; 65 percent discount rate; 4.0 percent terminal growth rate
Intangibles
$3,349,375 impaired in the fourth quarter of 2022; carrying value $0
Segment
zPREDICTA Inc merged into Predictive Oncology at the end of 2022 and reported inside the Pittsburgh segment
Revenue
$352,379 for the year ended December 31, 2022

Reading the filings

  1. The price was about ten times revenue.Pro forma combined 2021 revenue of $2,429,786 less the buyer’s own reported 2021 revenue of $1,420,680 implies $1,009,106 for zPREDICTA on a full year basis. Divide $10,015,941 by that and the multiple is about 9.9.
  2. The buyer paid for a method, not a customer book.Of $3,780,000 in identified intangibles, $3,500,000 was developed technology and only $200,000 was customer relationships, about 5 percent. The trade name was worth $80,000.
  3. Net tangible assets were negative.Cash, receivables and prepaid expenses totalled $528,009 against $1,149,858 of assumed liabilities, a deficit of $621,849. Every dollar of the price and more was paid for intangibles and goodwill.
  4. The write-off was larger than the price.$7,231,093 of goodwill plus $3,349,375 of intangibles is $10,580,468 against $10,015,941 paid. Goodwill had been adjusted upward by $373,303 after closing for acquired contract liabilities.
  5. A 65 percent discount rate is a verdict.Testing goodwill at June 30, 2022, seven months after closing, the buyer used a 65 percent discount rate based on its own market capitalisation. At that rate almost no forecast survives, and the unit was written to zero.
  6. Revenue fell after the sale.$352,379 in 2022 against the implied $1,009,106 for 2021 is a decline of about 65 percent, in a business the buyer had described as bringing a historical revenue stream and a profitable bottom line.
  7. There is no Form D to read.An EDGAR company search for zPredicta returns no matching companies, and the full-text index returns 47 documents mentioning the name, every one of them a Predictive Oncology filing. A company can raise under Section 4(a)(2) and file nothing, so the absence is not evidence that no money moved, but there is no Regulation D paper trail here at all.

Commercial signals

Signal Detail Source type
Distribution Models listed on the Science Exchange outsourced research marketplace from November 2018. Company-stated
Partner LabCorp strategic collaboration announced February 27, 2020 to develop and commercialise tumour-specific preclinical models. Terms not disclosed. Partner-stated
Named pharma work ImmunoGen scientists co-authored a 2016 study of IMGN901 run in the 3D myeloma model. Public record
Headcount Three employees recorded at December 31, 2022. Aggregator
Regulatory No FDA clearance, no registered trial. Services business, no regulated product. Not found
Acquirer today Predictive Oncology closed about $343.5 million of private placements in October 2025 to fund a digital asset treasury strategy. Public record

What to watch

  • Any assignment of the zPredicta patent family out of Predictive Oncology.
  • Whether Predictive Oncology discloses what remains of the 3D model business after its treasury pivot.
  • Whether the founder starts again. The market the platform was built for arrived after the exit, with the FDA roadmap of April 2025.

The zPREDICTA story on Healthcare DiscoveryHealthcare Discovery

Related companies

  • Parallel Bio: Also in Drug Discovery and Delivery. Miniature human lymph nodes, grown from donated tissue and run side by side across hundreds of donors, used to test drugs and vaccines before anyone takes them
  • CellType: Also in Drug Discovery and Delivery. A two person Yale spinout that translates single cell biology into a language large models can learn, and is using that model to steer a real cancer drug's next act
  • Convexia: Also in Drug Discovery and Delivery. A two person, Y Combinator backed startup that wants AI agents to do the job of a pharma business development team: find overlooked drugs, judge them, and eventually
  • Verge Genomics: Also in Drug Discovery and Delivery. The first company to carry a drug from an AI platform into ALS patients

Sources

  1. Public recordPredictive Oncology Inc, Form 8-K on the zPredicta mergerSEC · Dec 1, 2021
  2. Public recordPredictive Oncology Inc, Form 10-K for fiscal 2021SEC · Mar 31, 2022
  3. Public recordPredictive Oncology Inc, Form 10-K for fiscal 2022SEC · Mar 21, 2023
  4. Public recordPredictive Oncology Inc, Form 10-K for fiscal 2023SEC · Mar 28, 2024
  5. Public recordPredictive Oncology Reports Second Quarter 2022 Financial Results, Exhibit 99.1SEC · Aug 11, 2022
  6. Public recordEDGAR company search and full-text search for zPredictaSEC · accessed Sep 24, 2026
  7. Public recordPredictive Oncology Inc. Announces Closing of $343.5 Million in Private PlacementsGlobeNewswire · Oct 8, 2025
  8. IndependentzPREDICTA company profile, funding rounds and employee countTracxn · accessed Sep 24, 2026
  9. IndependentzPREDICTA products, competitors and patent recordCB Insights · accessed Sep 24, 2026
  10. IndependentzPredicta acquired by Predictive Oncology, portfolio updatePropel(x) · May 3, 2022
  11. IndependentZPredicta, LabCorp Form Cancer Cell Culture Model PartnershipGenomeWeb · Feb 27, 2020
  12. CompanyPredictive Oncology Acquires zPREDICTA, Inc.GlobeNewswire · Dec 1, 2021

Compiled from SEC filings and published reports as of September 24, 2026. zPREDICTA filed no Form D under its own name; the capital figures shown come from a public acquirer’s disclosures and from private market aggregators, which may be incomplete. Healthcare Venture Capital Fund holds no position in zPREDICTA or in Predictive Oncology Inc. This page is not an offer to sell or a recommendation to buy any security.