Avalon GloboCare Forms Joint Venture with Jiangsu Unicorn to Establish Provincial Network of Translational Cellular Therapy and Bio-Banking Programs
FREEHOLD, N.J., June 12, 2018 (GLOBE NEWSWIRE) -- Avalon GloboCare Corp. (OTCQB:AVCO), a leading global developer of cell-based technologies, announced today that the Company has formed a joint venture with Jiangsu Unicorn Biological Technology Co. Ltd, which brings extensive medical resources in Jiangsu Province, China.
This partnership was established to lead to the development of a premium network of provincial centers of excellence for translational research, collaborating in the areas of technological, clinical and regulatory resources in the areas of cellular therapy and bio-banking from top-ranked hospitals, including Nanjing Drum Tower Hospital, Nanjing Hospital of Chinese Medicine, Nanjing BenQ Hospital and the Second Affiliated Hospital of Nanjing Medical University. One of the major initiatives of this partnership is to establish the world’s largest aqueous humor derived exosome bio-bank to advance the next-generation of diagnosis and therapeutics for ophthalmologic diseases. This joint venture also aims to enhance the translational research and development of standardization, validation, processing, bio-production, international collaboration and high-impact clinical studies with respect to cellular therapy (including stem cell and CAR-T) in Jiangsu Province, China.
"This partnership with Jiangsu Unicorn provides an exceptional opportunity for Avalon to effectively leverage our technical and clinical expertise to expand our programs in exosome technology, cellular therapeutics and bio-banking,” stated David Jin, M.D., Ph.D., CEO and President of Avalon GloboCare Corp. "Through this provincial network of translational programs, we are able to further strengthen our leadership role and capabilities in order to accelerate our growth and development in regenerative medicine and cellular therapies," 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.
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 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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Freehold, NJ 07728
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Released June 12, 2018