Avalon GloboCare Announces Diagnostic Platform for Point-of-Care Rapid Detection of COVID-19 (SARS-CoV-2) and Its Clinically ...
June 08 2020 - 9:00AM
Avalon GloboCare Corp. (NASDAQ: AVCO), a clinical-stage global
developer of cell-based therapeutics and in vitro diagnostics,
announced today that the Company has entered into a strategic
partnership with GensKey Medical Technology Co. Ltd. to co-develop
and commercialize point-of-care, rapid detection antibody tests to
help identify whether a patient has been exposed to and has
developed antibodies against SARS-CoV-2, the new coronavirus that
causes COVID-19. The two companies will also co-develop and
commercialize a polymerase chain reaction (PCR)-based diagnostic
test to facilitate the diagnosis of an infection by the SARS-CoV-2
virus. Both detection tests are already CE mark certified and
are currently pending approval by the United States Food and Drug
Administration (FDA) under the Emergency Use Authorization (EUA)
pathway. Avalon also intends to pursue the establishment of a
cGMP facility in the United States for the manufacturing and
assembly of the COVID-19 detection systems.
SARS-CoV-2 is an enveloped RNA virus that accumulates genetic
mutations over time. These SARS-CoV-2 mutant variants are important
to characterize and detect as they may have clinical significance
in terms of virulence and infectivity. Avalon has initiated a
preemptive platform to identify and detect clinically relevant
SARS-CoV-2 mutations using point-of-care antibody-based rapid
detection assays and PCR-based genomic tests. The SARS-CoV-2
mutation bioinformatic profile may also contribute to the future
development of vaccines and anti-viral therapeutics.
“Avalon GloboCare is committed to combating the COVID-19
pandemic by leveraging our technical expertise and collaborative
repertoire,” stated David Jin, M.D., Ph.D., President and Chief
Executive Officer of Avalon GloboCare. “We are swiftly
mobilizing our vertical resources, including innovative research
and manufacturing, to accelerate the development and
commercialization of next-generation point-of care detection
systems, including for clinically relevant mutation strains of
SARS-CoV-2.”
About Avalon GloboCare Corp.
Avalon GloboCare Corp. (NASDAQ: AVCO) is a clinical-stage,
vertically-integrated, leading CellTech bio-developer dedicated to
advancing and empowering innovative, transformative immune effector
cell therapy, exosome technology, as well as COVID-19 related
diagnostics and therapeutics. Avalon also provides strategic
advisory and outsourcing services to facilitate and enhance its
clients' growth and development, as well as competitiveness in
healthcare and CellTech industry markets. Through its
subsidiary structure with unique integration of verticals from
innovative R&D to automated bioproduction and accelerated
clinical development, Avalon is establishing a leading role in the
fields of cellular immunotherapy (including CAR-T/NK), exosome
technology (ACTEX™), and regenerative therapeutics. For more
information about Avalon GloboCare, please visit
www.avalon-globocare.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
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