Avalon GloboCare Acquires Leading Beijing Exosome Technology Company
Avalon Forms Subsidiary U.S. Company, GenExosome Technologies Inc., for the Global Advancement of Exosome Technology for Diagnosis and Treatment of Diseases
FREEHOLD, NJ -- (Marketwired) -- 10/30/17 -- Avalon GloboCare Corp. (OTCQB: AVCO), a leading global developer of cell-based technologies, announced today that its majority-owned subsidiary GenExosome Technologies Inc. (GenExosome) acquired 100% of the outstanding capital stock of Beijing Jieteng (Beijing GenExosome) Biotech Co. Ltd. Concurrently, GenExosome entered into and closed an Asset Purchase Agreement with Dr. Yu Zhou, CEO of GenExosome Beijing, pursuant to which GenExosome acquired all assets, including all intellectual property, patents and patent applications held by Dr. Zhou pertaining to the business of researching, developing and commercializing exosome technologies. Additional details of the transaction are available in the Company's form 8-K filed with the Securities & Exchange Commission on October 27, 2017, and is available at www.sec.gov.
"Exosome-related technology and applications have been developing rapidly the past few years and are expected to grow exponentially," said Dr. David Jin, President and CEO of Avalon GloboCare, as well as Co-CEO of GenExosome. "This joint venture aligns with Avalon's mission to foster and accelerate clinical translation of innovative and transformative biotechnology. We believe this acquisition will help further establish Avalon's leading role in the fields of liquid biopsy, precision medicine and regenerative medicine," added Dr. Jin.
Dr. Zhou, Co-CEO of GenExosome stated, "Our proprietary exosome isolation system enables us to capture exosomes quickly and efficiently from a tiny volume of any bodily fluids. Known as 'liquid biopsies,' we believe our system is transformative to the industry as the technology will allow for the diagnosis of certain diseases that were previously impossible to accurately determine due to the limited availability of patient samples. Our studies have shown that our isolation system is more efficient and effective than what is available today, with faster extraction and higher purity results. We are thrilled at the opportunities presented through this acquisition."
Exosomes are tiny, subcellular, membrane-bound vesicles, measuring 30-150 nm in diameter, that are released by almost all cell types. Exosomes can carry membrane and cellular proteins, as well as genetic materials that are representative of the cell of origin. Profiling various bio-molecules in exosomes may serve as useful biomarkers for a wide variety of diseases.
Beijing GenExosome's research systems are designed to be used by researchers for biomarker discovery and clinical diagnostic development, and the advancement of targeted therapies. Currently, research kits and services are available to isolate exosomes or extract exosomal RNA/protein from serum/plasma, urine and saliva samples. Beijing GenExosome is seeking to decode proteomic and genomic alterations underlying a wide-range of pathologies, thus allowing for the introduction of novel non-invasive "liquid biopsies." Its mission is focused on diagnostic advancements in the fields of oncology, infectious diseases and fibrotic diseases, and discovery of disease-specific exosomes to provide disease origin insight necessary to enable personalized clinical management.
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, disruptive 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.
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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Source: Avalon GloboCare Corp.
Released October 30, 2017