Avalon GloboCare Achieves Major Milestones Advancing Immunotherapeutic Program towards Combatting Cytokine Storm Associated w...
April 20 2020 - 7:30AM
Avalon GloboCare Corp. (NASDAQ: AVCO), a clinical-stage global
developer of cell-based technologies and therapeutics, announced
today that it has achieved significant milestones advancing its
AVA-Trap™ technology program towards combatting the cytokine
storm associated with COVID-19 lung damage and mortality.
As previously announced, Avalon initiated a sponsored research
and co-development project with Massachusetts Institute of
Technology (MIT) led by Professor Shuguang Zhang as Principal
Investigator in May 2019. Using the unique QTY code protein
design platform, six water-soluble variant cytokine receptors have
been successfully designed and tested to show binding affinity to
the respective cytokines. Cytokines are small protein
molecules in the body required to regulate and maintain proper
physiological functions. In some life-threatening diseases,
however, cytokines are released in vast excess (also known as
“cytokine storm”) leading to devastating damage to vital tissues
and organs. A prime example is the widely recognized
Coronavirus-induced “cytokine storm,” which can lead to acute
respiratory distress syndrome, lung fibrosis, multi-organ failure
and death.
Avalon’s AVA-Trap™ therapeutic program is currently entering
animal model testing followed by expedited clinical studies with
the goal of providing an effective therapeutic option to combat
COVID-19 and other life-threatening conditions involving cytokine
storms. The Company believes it is well equipped to advance
this work, including a $20 million credit facility recently
provided by the Chairman of the Board.
The scientific manuscript reporting the above work has been
accepted for publication by the journal QRB Discovery (Cambridge
University Press). Furthermore, Avalon and the MIT team led
by Professor Shuguang Zhang have jointly filed three provisional
patents (USPTO filing numbers: 62994433, 63002661, 63002666), with
Dr. David Jin named as co-inventor.
Avalon also announces that it has launched its
Avalon Combat
COVID-19 Taskforce
(“ACCT”) led by CEO Dr. David Jin and
Director/Former Congressman Billy Tauzin to accelerate multiple
scientific and clinical programs to combat the COVID-19 global
pandemic by leveraging the Company’s extensive expertise in
cellular immunotherapy, stem cell technology and in vitro
diagnostics. In addition to the current
AVA-Trap™ therapeutic program, Avalon has initiated diagnostic
and immuno-protection programs targeting COVID-19 and its mutated
strains.
David Jin, M.D., Ph.D., CEO and President of Avalon GloboCare,
commented, “An overactive cytokine response, or cytokine storm, is
directly associated with increased mortality. We have been
studying and developing therapies for these cytokine storms long
before COVID-19, as it relates to other illnesses and
immunotherapies. We have applied this knowledge towards
COVID-19, and believe our AVA-Trap™ holds promise in addressing the
most serious morbidities related to COVID-19, which in turn, holds
the potential to reduce mortality rates. Moreover, we believe the
fact that this innovative research has been accepted for
publication in a leading industry journal further validates the
work we are doing.”
“The sickness and ripple effect of the COVID-19 global pandemic
has been severely affecting all walks of life, imposing tremendous
medical, social and financial burdens to our society. At
Avalon GloboCare, we are ready to mobilize our resources and
accelerate our scientific/clinical development on multiple fronts
to help combat this pandemic through a strategic combination of
therapeutic, diagnostic and preventative approaches,” concluded Dr.
Jin.
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 and exosome technology. 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
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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