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Avalon GloboCare Corp. (NASDAQ: ALBT) is a pioneering biotech company specializing in precision diagnostics, clinical laboratory services, and transformative biotechnology. The company operates through two primary segments: the real property operating segment, which drives its revenue, and the medical-related consulting services segment. As an innovative healthcare service provider, Avalon focuses on key diagnostic and therapeutic areas such as early detection of oral, ovarian, and kidney cancers, as well as skin regeneration and treatments for degenerative disorders.
Headquartered in Freehold, NJ, Avalon is committed to advancing high-impact biotechnology and clinical applications. Recently, the company launched Veritas Laboratory in Scottsdale, Arizona, a CLIA-certified and COLA-accredited facility offering comprehensive drug, genetic, urinary, and COVID-19 PCR testing. Moreover, Avalon continuously expands its testing footprint nationwide, leveraging the expertise of former Congressman Barry M. Goldwater Jr. to enhance insurance coverage and laboratory reach.
The company has introduced groundbreaking innovations such as the proprietary TB detection method and the KetoAir™ breathalyzer. The TB test, developed by Laboratory Services MSO, LLC (LSM), uses PCR technology for rapid and accurate tuberculosis detection from sputum samples. The KetoAir™ breathalyzer, a partnership with Qi Diagnostics, offers AI-driven nutritional insights for ketogenic dietary management.
Avalon’s strategic acquisitions underscore its growth trajectory. The acquisition of Merlin Medical Supply (MMS) and Leading Edge Innovations enhances its portfolio with durable medical equipment and the GeeWhiz External Condom Catheter, bolstering its presence in the medical supply market.
Further strengthening its intellectual property, Avalon recently secured a patent for QTY-Code modified cytokine and chemokine protein receptors, expanding the therapeutic targets for diseases like cancer. The company continues to innovate with upcoming studies on the DKAir™ breathalyzer for early detection of diabetic ketoacidosis.
For detailed information about Avalon GloboCare’s projects, recent developments, and strategic initiatives, visit their website and follow them on Twitter at @avalongc_avco.
Avalon GloboCare Corp. (NASDAQ: ALBT) announced that Laboratory Services MSO, (LSM), in which Avalon owns a 40% interest, has acquired DE Laboratory (DE Labs) in Houston, Texas. This acquisition expands LSM's presence in Texas and offers significant growth potential. DE Labs is a CLIA-certified and COLA-accredited laboratory that performs about 1,500 lab tests per month, focusing on toxicology and wellness testing.
LSM will operate DE Labs as a fully owned subsidiary and has invested capital for geographical expansion into surrounding counties. The acquisition aligns with Avalon's strategy to expand LSM through acquisitions and strategic relationships in the fragmented laboratory testing market. Avalon aims to target laboratories with exceptional performance, positive revenue track records, and niche-market advantages.
Avalon GloboCare Corp. (NASDAQ: ALBT) announced a substantial future cash flow expectation due to a 40% profit-sharing agreement with Laboratory Services MSO (LSM). In 2022, LSM reported significant financials: $14.7 million in revenue, $8.1 million gross profit, $2.4 million in operating expenses, and a net income of $6.3 million. Avalon acquired a 40% interest in LSM in February 2023, which enhances its strategic position in the laboratory services market. The company's growth strategy focuses on leveraging LSM's expertise in the fragmented laboratory testing space and aims to generate synergies through targeted acquisitions. Avalon also highlights LSM's strong customer service reputation, rapid turnaround times, and diverse test offerings as key competitive advantages.
Avalon GloboCare Corp. (NASDAQ: ALBT) announced the commercial launch of the KetoAir™ breathalyzer at the KetoCon Austin 2023 conference, held from April 21-23, 2023. The KetoAir™ device, which is registered with the FDA, functions as a companion diagnostic and monitoring tool for ketogenic dietary management, combining AI nutritionist consultations. Avalon has partnered with Qi Diagnostics for exclusive distribution in North America, South America, the U.K., and the EU. The initial target markets include diabetes reversal and obesity management due to the efficacy of the ketogenic diet. KetoAir™ is touted as the first breathalyzer of its kind that uses AI and a nanosensor for monitoring keto health, allowing users to track their dietary plans and receive personalized recommendations via the KetoAir app.
Avalon GloboCare Corp. (NASDAQ: ALBT) recently announced an agreement with Qi Diagnostics for exclusive distribution rights to the KetoAir™ breathalyzer in North America, South America, the U.K., and the EU. This device is aimed at the diabetes reversal and weight management markets, and combines AI nutritionist consultations with a nanosensor-based breathalyzer to monitor ketogenic dietary management. The FDA has approved KetoAir™, and Avalon plans to commercialize the product, which is backed by clinical evidence supporting nutritional ketosis for diabetes treatment. Additionally, both companies will collaborate on a lung cancer breathalyzer, sharing ownership of any resulting intellectual property. While the initial agreement is promising, a definitive agreement regarding terms and pricing is still pending.
Avalon GloboCare Corp. (NASDAQ: ALBT), a key player in cell-based technology, announced participation in the 35th Annual Roth Conference on March 13-14, 2023, held at The Ritz Carlton, Laguna Niguel in Dana Point, California. Luisa Ingargiola, Chief Financial Officer, will host one-on-one and small group meetings for investors.
The conference serves as a platform for Avalon to showcase its innovative cellular therapeutics and precision diagnostics. Investors interested in meetings can email oneononerequests@roth.com.
Avalon GloboCare Corp. (NASDAQ: ALBT) announced the acquisition of a 40% stake in Laboratory Services MSO, LLC for $21 million. The deal includes $9 million in cash, $11 million in Series B preferred stock, and $1 million due in 2024. The preferred shares will be restricted for 12 months and are subject to a leak-out provision. LSM is known for its diagnostic tests across various areas and has conducted over 600,000 tests. Avalon anticipates this transaction will boost earnings and enhance its portfolio. An exclusive option allows Avalon to acquire an additional 20% of LSM within nine months for $6 million in cash and additional shares.
Avalon GloboCare Corp. (NASDAQ: ALBT) announced the issuance of U.S. Patent No. 11,555,060 by the USPTO, covering the QTY Code, a breakthrough technology transforming water-insoluble proteins into soluble forms. This patent strengthens Avalon's intellectual property in immuno-oncology and cellular therapies, enhancing its competitive edge. The QTY platform has significant potential for applications, including addressing cytokine storms from COVID-19 and improving CAR T-cell therapies. Avalon has filed 16 joint patent applications with prestigious partners like MIT and aims to lead in innovative biotechnology solutions.
Avalon GloboCare Corp. (NASDAQ: ALBT) announced the appointment of Lourdes Felix to its Board of Directors, effective January 11, 2023. Felix, an experienced entrepreneur and corporate finance executive, has over 30 years in capital markets and public accounting. She is the CEO and CFO of BioCorRx Inc., where she has led significant capital procurement and business restructuring in the addiction treatment sector. Avalon aims to leverage her expertise to implement a roll-up strategy targeting toxicology labs within the addiction market, enhancing corporate governance and growth prospects.
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