Avalon GloboCare Forms Joint Laboratory with Top-Ranked Hospital in Shanghai for Regenerative Exosomics
Avalon to Own Exclusive Rights for Commercialization of all Products Derived from Joint Laboratory
FREEHOLD, NJ -- (Marketwired) -- 04/24/18 -- Avalon GloboCare Corp. (OTCQB: AVCO), a leading global developer of cell-based technologies, announced today that the Company's subsidiary, GenExosome Technologies Inc., has formed a joint laboratory for regenerative exosomics with the Shanghai Ninth People's Hospital (SNPH), a top-ranked medical institute in China and the Asia Pacific region, renowned for its plastic and reconstructive surgery specialty. The joint laboratory will utilize Avalon's proprietary exosome isolation system to accelerate the development of diagnostic and therapeutic applications using stem cell-derived exosomes. Under the agreement, Avalon will own the exclusive rights for development and commercialization of products derived from the joint laboratory, and all intellectual property developed through the partnership will be jointly owned by Avalon and SNPH.
"This strategic partnership with the Shanghai Ninth People's Hospital is the first of its kind in establishing an innovative, state-of-the-art joint laboratory in regenerative exosomics," said David Jin, M.D., Ph.D., President and CEO of Avalon GloboCare, as well as co-CEO of its subsidiary GenExosome Technologies Inc. "This laboratory will combine Avalon's proprietary exosome isolation technology with SNPH's clinical expertise to accelerate the development of diagnostic and therapeutic applications particularly in the areas of plastic/reconstructive surgery, wound healing, skincare, and exosomic bioinformatics. This joint endeavor will further establish Avalon's leading role in precision and regenerative medicine," added Dr. Jin.
About Avalon GloboCare Corp.
Avalon GloboCare Corp. (OTCQB: AVCO) is a global intelligent biotech developer and healthcare service provider dedicated to promoting and empowering high impact, transformative cell-based /technologies and their clinical applications, as well as healthcare facility management through its core platforms, namely "Avalon Cell" and "Avalon Rehab." In addition, Avalon provides strategic advisory and outsourcing services to facilitate and enhance their clients' growth, development, as well as competitiveness in both domestic and global healthcare markets. Avalon also engages in the management of stem cell banks and specialty clinical laboratories. Through its U.S. subsidiary, GenExosome Technologies Inc., Avalon further establishes its leading role in the fields of liquid biopsy, precision medicine and regenerative medicine. For more information, please visit www.avalon-globocare.com.
Certain statements contained in this press release may constitute "forward-looking statements." Forward-looking statements provide current expectations of future events based on certain assumptions and include any statement that does not directly relate to any historical or current fact. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors as disclosed in our filings with the Securities and Exchange Commission located at their website (http://www.sec.gov). In addition to these factors, actual future performance, outcomes, and results may differ materially because of more general factors including (without limitation) general industry and market conditions and growth rates, economic conditions, and governmental and public policy changes. The fact that the Company has submitted its application for listing its shares on the NASDAQ does not suggest the listing will be ultimately approved by the NASDAQ. The forward-looking statements included in this press release represent the Company's views as of the date of this press release and these views could change. However, while the Company may elect to update these forward-looking statements at some point in the future, the Company specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing the Company's views as of any date subsequent to the date of the press release.
Avalon GloboCare Corp.
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Source: Avalon GloboCare Corp.
Released April 24, 2018