FREEHOLD, NJ--(Marketwired - October 30, 2017) - Avalon GloboCare Corp. (AVCO), a leading global developer of cell-based technologies, announced today that its majority-owned subsidiary GenExosome Technologies Inc. (GenExosome) acquired 100% of the outstanding capital stock of Beijing Jieteng (Beijing GenExosome) Biotech Co. Ltd. Concurrently, GenExosome entered into and closed an Asset Purchase Agreement with Dr. Yu Zhou, CEO of GenExosome Beijing, pursuant to which GenExosome acquired all assets, including all intellectual property, patents and patent applications held by Dr. Zhou pertaining to the business of researching, developing and commercializing exosome technologies. Additional details of the transaction are available in the Company's form 8-K filed with the Securities & Exchange Commission on October 27, 2017, and is available at www.sec.gov.
"Exosome-related technology and applications have been developing rapidly the past few years and are expected to grow exponentially," said Dr. David Jin, President and CEO of Avalon GloboCare, as well as Co-CEO of GenExosome. "This joint venture aligns with Avalon's mission to foster and accelerate clinical translation of innovative and transformative biotechnology. We believe this acquisition will help further establish Avalon's leading role in the fields of liquid biopsy, precision medicine and regenerative medicine," added Dr. Jin.
Dr. Zhou, Co-CEO of GenExosome stated, "Our proprietary exosome isolation system enables us to capture exosomes quickly and efficiently from a tiny volume of any bodily fluids. Known as 'liquid biopsies,' we believe our system is transformative to the industry as the technology will allow for the diagnosis of certain diseases that were previously impossible to accurately determine due to the limited availability of patient samples. Our studies have shown that our isolation system is more efficient and effective than what is available today, with faster extraction and higher purity results. We are thrilled at the opportunities presented through this acquisition."
Exosomes are tiny, subcellular, membrane-bound vesicles, measuring 30-150 nm in diameter, that are released by almost all cell types. Exosomes can carry membrane and cellular proteins, as well as genetic materials that are representative of the cell of origin. Profiling various bio-molecules in exosomes may serve as useful biomarkers for a wide variety of diseases.
Beijing GenExosome's research systems are designed to be used by researchers for biomarker discovery and clinical diagnostic development, and the advancement of targeted therapies. Currently, research kits and services are available to isolate exosomes or extract exosomal RNA/protein from serum/plasma, urine and saliva samples. Beijing GenExosome is seeking to decode proteomic and genomic alterations underlying a wide-range of pathologies, thus allowing for the introduction of novel non-invasive "liquid biopsies." Its mission is focused on diagnostic advancements in the fields of oncology, infectious diseases and fibrotic diseases, and discovery of disease-specific exosomes to provide disease origin insight necessary to enable personalized clinical management.
ABOUT AVALON GLOBOCARE CORP.
Avalon GloboCare Corp. (AVCO) is a global intelligent biotech developer and healthcare service provider dedicated to promoting and empowering high impact, disruptive 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.
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