Avalon GloboCare Announces Completion of Clinical-Grade Exosome Bio-Production Standardization with Launch of "ACTEX" Product Commercialization
This milestone marks a pivotal point in Avalon's pipeline, now allowing the company to enter its next phase of commercializing clinical-grade exosome products
FREEHOLD, N.J., June 10, 2019 /PRNewswire/ -- Avalon GloboCare Corp. (NASDAQ: AVCO), a leading global developer of cell-based technologies and therapeutics, today announced it has achieved a major milestone in bio-production standardization of clinical-grade stem cell derived exosomes. The standardized procedure was a direct result of the previously announced co-development program at Weill Cornell Medicine with Yen-Michael Hsu, M.D., Ph.D. as principal investigator. The process has been co-developed and operated within Weill Cornell's cGMP-certified cell therapy facility jointly accredited under Foundation of Accreditation for Cellular Therapy (FACT), American Association of Blood Banking (AABB), College of American Pathologists (CAP), as well as Clinical Laboratory Improvement Amendment (CLIA).
Avalon will hold a press conference to announce the launch of its exosome product commercialization plan, including a series of over-the-counter skincare and wound-healing products with Avalon's Clinical-grade Tissue-specific EXosomes as additives (ACTEX), on June 15, 2019 during the 2nd International Aesthetic Industry Conference in Chengdu, China -- the largest conference of its kind in Asia. In addition to product commercialization, this standardization of clinical-grade stem cell derived exosomes will lead to parallel development of Avalon's clinical programs, including AVA-202 and AVA-203, for angiogenic/orthopedic regeneration as well as treatment of fibrotic diseases.
"We are pleased to complete such a significant developmental milestone of our exosome program," stated David Jin, M.D., Ph.D., CEO and President of Avalon GloboCare and Co-CEO of its subsidiary GenExosome Technologies. "As a result, we look forward to an accelerated pathway of our exosome-based clinical programs for regenerative therapeutics as well as exosome product commercialization," added Dr. Jin.
About Avalon GloboCare Corp.
Avalon GloboCare Corp. (NASDAQ: AVCO) is a leading CellTech bio-developer dedicated to advancing and empowering innovative, transformative exosome technologies and cellular therapeutics. Avalon also provides strategic advisory and outsourcing services to facilitate and enhance its clients' growth, development, as well as competitiveness in both the domestic and global healthcare markets. Through its subsidiaries, namely GenExosome Technologies Inc. and Avactis Biosciences Inc., Avalon is establishing a leading role in the fields of exosome-based diagnostics (''liquid biopsy''), cellular immunotherapy (including CAR-T/CAR-NK), 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.
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SOURCE Avalon GloboCare Corp.
Released June 10, 2019