Avalon GloboCare Announces Plans to Accelerate Commercialization of Proprietary CAR-T Technologies through Launch of Wholly Owned Subsidiary - Avactis Biosciences
FREEHOLD, N.J., July 18, 2018 (GLOBE NEWSWIRE) -- Avalon GloboCare Corp. (OTCQB:AVCO), a leading global developer of cell-based technologies and therapeutics, announced today that the Company has formed a new wholly owned U.S. subsidiary, Avactis Biosciences, Inc., which will be focused on accelerating commercial activities related to its proprietary Chimeric Antigen Receptor (CAR)-T technologies. The new subsidiary is designed to integrate and optimize the Company’s global scientific and clinical resources. CAR-T is a novel and revolutionary cancer immunotherapy that involves genetically modifying T cells to activate the immune system to recognize and destroy cancer cells.
Avalon GloboCare’s main affiliated clinical facility, the Hebei Yanda LuDaopei Hospital, has completed over 300 cases of CAR-T therapy targeting CD19, CD22 and CD123, making it the single largest medical institution in CAR-T therapy in the world. Avactis Biosciences will take on specific roles in CAR-T bio-manufacturing, standardization, and bio-banking for the LuDaopei Hospital network and other affiliated hospitals, as well as provision of collaborative research and training programs for clinicians and scientists who are involved in CAR-T therapy and technology development.
David Jin, M.D., Ph.D., CEO and President of Avalon GloboCare Corp. and the newly established subsidiary Avactis Biosciences, Inc., commented, “Within Avalon GloboCare is the Company’s Avalon Cell division, which has traditionally focused on regenerative medicine (including stem cell, endothelial cell, hematopoietic cell, exosome), liquid biopsy/in vitro diagnostics, as well as immunotherapy. Given the dramatic growth in the CAR-T cellular immunotherapy sector in recent years, and our access to cutting edge technologies through the LuDaopei Hospital in China and leading research institutions in the U.S., we made the strategic decision to form Avactis Biosciences in order to accelerate our commercial activities.”
“We are excited to concentrate our CAR-T activities within Avactis Biosciences and launch what we believe will become a premium CAR-T bio-enterprise. Our proprietary, breakthrough technologies have the potential to revolutionize the manufacturing and therapeutic options for cancer patients, particularly in hematologic malignancies (such as B-ALL and non-Hodgkin Lymphoma). Our plan is to establish a unique, full-suite, integrated system for CAR-T bio-manufacturing, standardization, international multi-centered clinical studies, and intelligent bio-banking, positioning Avactis Biosciences to become a key player in the CAR-T therapy sector,” concluded 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.
4400 Route 9, Suite 3100
Freehold, NJ 07728
Crescendo Communications, LLC
Tel: (212) 671-1020
Released July 18, 2018