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Avalon GloboCare Corp. will change its NASDAQ ticker symbol from AVCO to ALBT, effective November 10, 2022. This change reflects the company's new focus on laboratory services and biotherapeutics. Following a recent acquisition of Laboratory Services MSO, Avalon aims to enhance its revenue and create synergies within its existing operations. The acquisition is expected to significantly boost earnings and leverage its cellular therapy programs. Shareholders will not need to take any action regarding this symbol change.
Avalon GloboCare Corp. (NASDAQ: AVCO) has announced the acquisition of a 60% interest in Laboratory Services MSO, LLC, a reference laboratory generating over $25 million in unaudited revenue for 2021. The total deal is valued at $31 million, financed through a private placement that includes $15 million in cash and $15 million in preferred stock. The acquisition aims to enhance Avalon's diagnostic capabilities and is expected to be positively accretive to earnings. The company will begin trading under the new symbol "ALBT" starting November 10, 2022.
Avalon GloboCare Corp. (NASDAQ: AVCO) announced the submission of a new U.S. patent application for its QTY glucose transporter technology, developed in collaboration with MIT's Dr. Shuguang Zhang. This follows a Notice of Allowance received for its QTY fusion water-soluble receptor protein platform, covering seven claims. The QTY technology transforms difficult-to-handle proteins into water-soluble forms, enhancing cancer therapy prospects. CEO David Jin emphasized the significance of this innovation in advancing cellular immunotherapy and immune-oncology applications.
Avalon GloboCare Corp. (NASDAQ: AVCO) announced a breakthrough in cancer research using its AI-enhanced "QTY Code" technology. This innovation accelerates the design of therapeutic monoclonal antibodies by predicting structures of glucose transport membrane proteins, which are critical in cancer. The study published on June 27, 2022, showcases how the QTY Code enables quick assessment of protein structures, significantly reducing research time from weeks to hours. Avalon believes this method will enhance the understanding and development of cancer therapies.
Avalon GloboCare Corp. (NASDAQ: AVCO) will present at the Jefferies 2022 Healthcare Conference in New York City on June 10, 2022, at 12:45 PM ET. The event will feature CEO Dr. David Jin and CFO Luisa Ingargiola, who will also engage in one-on-one meetings with investors. Avalon GloboCare is a clinical-stage bio-developer specializing in immune effector cell therapies, exosome technology, and COVID-19 diagnostics. For more information, visit www.avalon-globocare.com.
Avalon GloboCare Corp. (NASDAQ: AVCO) has announced a partnership with Lu Daopei Hematology Institute (LDHI) to co-develop precision companion diagnostics for CAR-T cell therapies. This strategic collaboration aims to enhance Avalon's R&D pipeline in cellular immunotherapy. Additionally, Avalon appointed Dr. Hongxing Liu, a leading expert in precision diagnostics for hematologic malignancies, to its Scientific and Clinical Advisory Board. The partnership is expected to advance the development of innovative diagnostics critical for personalized patient treatment, which may improve patient outcomes.
Avalon GloboCare Corp. (NASDAQ: AVCO) announced the joint filing of 16 patent applications with prominent global partners, including a top U.S. university and a leading European research center. The patents encompass three core families related to cellular therapies, specifically focusing on CAR-T cell technologies, cytokine decoy receptors, and novel mucosal vaccine development. This strategic initiative aims to enhance Avalon's IP portfolio and position in the immuno-oncology market, supported by strong preclinical data. The applications aim for extended geographic patent protection across multiple countries.
Avalon GloboCare Corp. (NASDAQ: AVCO) is expanding its cellular immuno-oncology program by developing novel Chimeric Antigen Receptor - Natural Killer (CAR-NK) cell therapies using its mRNA-based FLASH-CAR™ technology. This initiative aims to treat hematologic malignancies and other unmet medical conditions in collaboration with Lu Daopei Hospital. Additionally, Avalon appointed Dr. Dongfang Liu to its Scientific and Clinical Advisory Board, enhancing its expertise in CAR-NK technology. The developments follow Avalon’s existing CAR-T candidate, AVA-011, which is progressing towards clinical trials.
Avalon GloboCare Corp. (NASDAQ: AVCO) announced significant advancements in its R&D strategies during a year-end business update. The company is focusing on immuno-oncology and cellular therapies, including a collaboration with the University of Pittsburgh Medical Center to expedite cancer immunotherapy manufacturing. Avalon has terminated the intended acquisition of SenlangBio, avoiding potential issuance of 80 million shares. Plans for 2022 include focusing on core programs, driving organic growth, and leveraging strategic partnerships, with the CEO expressing confidence in upcoming milestones and shareholder value.
Avalon GloboCare Corp. (NASDAQ: AVCO) announced that Chairman Daniel Lu converted $3.0 million of debt into 2.4 million common shares at $1.25 per share, a 45% premium over the previous closing price. This conversion reflects the Chairman's confidence in the company's future. Avalon is advancing its therapies, including CAR-T and CAR-NK, and expects to report milestones to enhance shareholder value in the upcoming year. This strategic move strengthens Avalon’s balance sheet as it continues its growth in the cell-based technology sector.
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