Avalon GloboCare Commences Operation of its Core GMP Platform, Epicon Biotech, to Facilitate Clinical Development of Cellular Therapies
FREEHOLD, N.J., Sept. 20, 2018 (GLOBE NEWSWIRE) -- Avalon GloboCare Corp. (OTCQB: AVCO), a leading global developer of cell-based technologies, announced today that the Company has officially commenced operation of Epicon Biotech Co. Ltd. (“Epicon”), a joint venture with Jiangsu Unicorn Biological Technology Co. Ltd., located within the Nanjing BenQ Hospital - a prestigious Grade 3A medical center in Jiangsu Province, China. As previously announced in June 2018, Avalon formed a joint venture with Jiangsu Unicorn to establish a provincial network of translational cellular therapies and bio-banking programs.
Epicon occupies a 16,000 square foot, state-of-the-art Good Manufacturing Practice (GMP) laboratory space for processing, biobanking and preparation of clinical-grade products for cellular therapy. Epicon also plans to establish a joint biomedical institute with Nanjing BenQ Hospital to further expand the platform.
Epicon plays an essential role in facilitating standardized GMP laboratory platform for Avalon’s subsidiaries, GenExosome Technologies and Avactis Biosciences. One of the major initiatives for Epicon 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. Several prominent and internationally recognized ophthalmologists have agreed to contribute to this endeavor. Epicon also aims to enhance the translational research and clinical development of standardization, validation, processing, bio-production, and international collaboration with respect to a wide repertoire of cellular therapies, including stem cell, Chimeric Antigen Receptor (CAR)-T, CAR-Natural Killer (CAR-NK) cell, T Cell Receptor-T (TCR-T) adoptive immunotherapy, allogeneic NK cell, invariant NKT cell, as well as Endothelial Cell (EC).
“We are very excited to commence operation of Epicon in China. This state-of-the-art platform serves well to accelerate our international programs in exosome technology, cellular therapeutics and bio-banking,” stated David Jin, M.D., Ph.D., CEO and President of Avalon GloboCare Corp. “This joint venture will strengthen our core technological capabilities and help further establish our leadership in the fields of cellular therapy, regenerative medicine and exosome-based biobanking,” 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. subsidiaries, namely GenExosome Technologies Inc. and Avactis Biosciences Inc., Avalon will further establish our leading roles in the fields of CAR-T therapy, 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
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Released September 20, 2018