Avalon GloboCare and GE Healthcare Announce Strategic Partnership to Accelerate Standardized Automation and Bio-production fo...
July 22 2019 - 4:30PM
Avalon GloboCare Corp. (NASDAQ: AVCO), a leading clinical-stage
global developer of cell-based technologies and therapeutics, today
announced that they have established a strategic partnership with
GE Healthcare. The partnership will accelerate Avalon’s
standardization, automation and bio-production for clinical-grade
Chimeric Antigen Receptor (CAR)-T cells and other immune-effector
cells for cellular immunotherapy, as well as exosomes/extracellular
vesicles (EV) based regenerative therapeutics. The
combination of expertise sets the stage for Avalon to be the leader
in cellular medicines with the ability to execute on the complete
development lifecycle from innovation through bio-production to the
delivery and management of treatment at hospitals for
patients. This infrastructure and depth of capabilities
ensures the successful execution of the company’s ongoing clinical
trials.
Under this partnership, both Avalon and GE Healthcare will
strategically establish automated and standardized GMP cell
production capabilities. Avalon will be given access to GE
Healthcare’s cell processing expertise and products in the form of
FlexFactory Cell Therapy platform, FastTrak process development and
training services, as well as extensive SOP and validation protocol
library. Additionally, user training will be conducted both
at GE Healthcare and on-site at Avalon’s Nanjing Epicon GMP
facility with access to GE Healthcare’s expert bio-manufacturing
resources. In conjunction with Avalon’s extensive clinical
network in China, this strategic partnership will empower Avalon to
improve manufacturing throughput and efficiency, alleviate cost
burden, and minimize variability in the automated and standardized
bio-production process of clinical-grade cellular products (such as
CAR-T, CAR-NK, and stem cell-derived exosomes/EV), therefore,
accelerating the development of Avalon’s clinical and
commercialization programs in cellular medicines.
“We are pleased to establish this strategic partnership with GE
Healthcare. This is a crucial and exciting time in the
evolution of cellular medicines and our combined skills will drive
Avalon to move innovation forward and ultimately deliver the best
therapeutic solutions for patients. This partnership enables
Avalon to more fully leverage and integrate our core technology
platforms and accelerate our clinical programs in cellular
immunotherapy and stem cell-derived exosome-based regenerative
therapeutics. Empowered by GE’s leading automation and
standardized cell processing/bio-production capabilities, we look
forward to further upgrading our infrastructure, services and
products, as well as expanding our leadership role in cellular
medicines,” stated David Jin, M.D., Ph.D., President and Chief
Executive Officer of Avalon GloboCare.
“Cellular medicines as a bio-industry sector has been growing
and evolving at a rapid pace during recent years with vast
potential to change the way various diseases are managed. GE
Healthcare continues investing in technologies and services aimed
at the thriving cellular medicine industry with a firm commitment
of making these promising cellular therapeutic modalities
accessible through successful industrialization. We are
pleased to work with Avalon GloboCare, a global leader in
cell-based therapeutics and exosome technology, who share our
mission and vision for advancing innovation and delivering
automation, standardization and bio-production solutions for
cellular medicines,” said Angela Chen, GE Healthcare CGT Global
Commercial Enterprise Solution Leader.
About Avalon GloboCare Corp.
Avalon GloboCare Corp. (NASDAQ: AVCO) is a clinical-stage,
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 healthcare and CellTech
industry 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 therapeutics. For more information
about Avalon GloboCare, please visit www.avalon-globocare.com
About GE Healthcare
GE Healthcare helps therapy innovators, researchers and
healthcare providers accelerate how precision diagnostics and
therapies are invented, made and used. The products enable
biological analysis, research, development and the manufacture of
advanced therapies and vaccines. From medical imaging,
software and IT, patient monitoring and diagnostics to drug
discovery, biopharmaceutical manufacturing technologies, cellular
medicines, and performance improvement solutions, GE Healthcare
aims to improve outcomes for healthcare providers and for therapy
innovators around the world to achieve increased capacity, improved
productivity and better patient outcomes. For more information
about GE Healthcare, please visit www.gehealthcare.com
Forward-Looking Statements 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.
Contact Information: Avalon GloboCare Corp.4400
Route 9, Suite 3100Freehold, NJ 07728PR@Avalon-GloboCare.com
Investor Relations:Crescendo Communications,
LLCTel: (212) 671-1020 Ext. 304avco@crescendo-ir.com
A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/826aecfd-f7a7-46e7-b08d-1372f28588ef
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