FREEHOLD, NJ—(Marketwired – April 24, 2018) – Avalon GloboCare Corp. (OTCQB: AVCO), a leading global developer of cell–based technologies, announced today that the Company's subsidiary, GenExosome Technologies Inc., has formed a joint laboratory for regenerative exosomics with the Shanghai Ninth People's Hospital (SNPH), a top–ranked medical institute in China and the Asia Pacific region, renowned for its plastic and reconstructive surgery specialty. The joint laboratory will utilize Avalon's proprietary exosome isolation system to accelerate the development of diagnostic and therapeutic applications using stem cell–derived exosomes. Under the agreement, Avalon will own the exclusive rights for development and commercialization of products derived from the joint laboratory, and all intellectual property developed through the partnership will be jointly owned by Avalon and SNPH.
“This strategic partnership with the Shanghai Ninth People's Hospital is the first of its kind in establishing an innovative, state–of–the–art joint laboratory in regenerative exosomics,” said David Jin, M.D., Ph.D., President and CEO of Avalon GloboCare, as well as co–CEO of its subsidiary GenExosome Technologies Inc. “This laboratory will combine Avalon's proprietary exosome isolation technology with SNPH's clinical expertise to accelerate the development of diagnostic and therapeutic applications particularly in the areas of plastic/reconstructive surgery, wound healing, skincare, and exosomic bioinformatics. This joint endeavor will further establish Avalon's leading role in precision and regenerative medicine,” added Dr. Jin.
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, transformative 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. Through its U.S. subsidiary, GenExosome Technologies Inc., Avalon further establishes its leading role in the fields of liquid biopsy, precision medicine and regenerative medicine. For more information, please visit www.avalon–globocare.com.
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