FREEHOLD, N.J. – Dec 22, 2021 – Avalon GloboCare Corp. (NASDAQ: AVCO) a clinical-stage global developer of cell-based technologies and therapeutics, today announced the Company’s Chairman, Daniel Lu, has converted $3.0 million of debt owed to him under the Line of Credit into 2.4 million shares of the Company’s common stock at $1.25 per share. The conversion price represents a 45% premium to yesterday’s closing price.
“We are grateful for our Chairman’s continued support and tremendous confidence in the outlook for the business, as illustrated by his willingness to convert his loan at a significant premium to market, thereby further strengthening our balance sheet,” said David Jin, M.D., Ph.D., President and Chief Executive Officer of Avalon. “We continue to make rapid progress advancing our immune effector cell therapies, including CAR-T and CAR-NK, our S-layer coated emulsome technology (SLET), our exosome-based regenerative therapeutics (ACTEX™), as well as our liquid biopsy diagnostic and drug delivery platforms. Importantly, we look forward to reporting a number of important milestones that we believe will drive significant shareholder value heading into the new year.”
- Clinical-Stage CellTech Developer Dedicated to Immune Effector Cell Therapy and Exosome Technology.
- Introducing Life Saving COVID-19 Diagnostics and Therapeutics.
- New Treatment for Deadly Cytokine Storm in COVID-19 Patients.
- Novel Technology to Efficiently Synthesize & Study Previously Difficult to Work With Drug Targets.
- Technology Will Facilitate Drug Design for Cancer & Immune Diseases.
- Study Published in September 2021 Issue of Journal Membranes.
- Advanced Filtration Tech Could Help Stop Life-Threatening Cytokine Storm in COVID-19 Patients
Cytokine storm has made frequent appearances in the news lately as a life-threatening complication in patients suffering from COVID-19. The condition is an inflammatory syndrome triggered by hyperactivation of immune cells that can significantly impact the patient’s chances of making a full recovery or surviving the infection at all.
Fortunately, AVCO has already been developing a range of therapies that have the potential to help target cytokine storm and other risk factors that make the widespread virus so difficult to get under control.
What Is Cytokine Storm?
The immune system uses cytokines to perform a variety of important tasks from clotting blood to triggering antibody production. When overworked — as can happen when the body is fighting off an aggressive, difficult disease like COVID-19 or is being treated with therapies designed to activate an immune response — that same immune system can end up producing too many cytokines. When the ones that trigger an inflammatory response are produced in excess, the cytokines trigger severe inflammatory symptoms, damage healthy tissue, and can even cause multiple organs to fail, leading to death.
AVCO AVA-Trap™ Already Targets Cytokine Storm
Because cytokine storm is a common risk factor in many cancer therapies, the oncology-focused AVCO was already hard at work on a way to calm down cytokine storms. The AVCO AVA-Trap™ therapeutic program was developed to target this potentially fatal complication. By using cytokine receptor proteins, the AVA-Trap™ program could dampen the release of cytokine, essentially filtering out the excess cytokines.
When COVID-19 started to spread through populations around the globe in 2020, doctors soon realized that the virus could induce a cytokine storm and that, when it did, the chances of that patient surviving grew slim. AVCO moved quickly to file and expanded patent for the proprietary filtration technology so it could be used to help COVID patients increase their chances of recovering from the disease.
AVCO Launches Full-Scale Plan to Tackle COVID-19 Pandemic
In addition to leveraging its existing AVA-Trap™ program to help combat cytokine storm and improve patient outcomes, AVCO also began working on a slate of other tools doctors can use to keep the evolving virus at bay.
In partnership with Adial Pharmaceuticals Inc. (NASDAQ: ADIL), AVCO is distributing a rapid diagnostics test that can detect multiple COVID antibodies with between 92.9% and 98.6% accuracy in just 10 minutes. Using the AVCO existing global distribution network, the 2 companies are able to make this rapid and highly accurate test available to healthcare providers worldwide.
In another partnership with Austria’s University of Natural Resources and Life Sciences (BOKU), AVCO is working on an intranasal spray vaccine for COVID-19. Based on innovative S-layer technology that creates uniform, repetitive protein structures, the vaccine could become a highly effective formula in a format that people could self-administer — reducing the burden on healthcare providers to individually vaccinate the world’s population and reducing barriers to access for people with mobility challenges or who live too far from the nearest vaccine administration site.
Finally, AVCO began practical testing for its allogeneic MSC-based cellular therapy (ACETEX™), which could treat the acute respiratory distress syndrome (ARDS) and multisystem inflammatory syndrome that can also come with severe cases of COVID-19 infection and, like cytokine storm, significantly increase the risk of mortality. ARDS alone has been the cause of death in 70% of fatal COVID-19 cases where an aggressive inflammatory response happens.
ACETEX™ uses mesenchymal stromal cells taken from bone marrow, fat tissue, or other tissue types and adapts them to help moderate the body’s immune system response. Because cytokine storm, ARDS, and multisystem inflammatory syndrome in COVID-19 patients are all triggered by a hyperactive immune response, the potential ACETEX™ has for better regulating the immune response could offer a reliable treatment option to stop these complications in their tracks and prevent them from progressing to a fatal stage.
- AVCO and University of Natural Resources and Life Sciences (BOKU) Co-develop Innovative In-Silico Technology, Enabling the Design and Synthesis of Novel Cell Membrane Receptor Targets for Cancer and Immune-Related Diseases
For more information on Avalon GloboCare Corp. (NASDAQ: AVCO) visit: http://www.avalon-globocare.com
CAP/FrontPageStocks/CorporateAds.com (CA) is a third-party publisher and news dissemination service provider. CAP/FPS/CA is NOT affiliated in any manner with any company mentioned herein. CAP/FPS/CA is a news dissemination solutions provider and is NOT a registered broker/dealer/analyst/adviser, holds no investment licenses and may NOT sell, offer to sell or offer to buy any security. CAP/FPS/CA’s market updates, news alerts and corporate profiles are NOT a solicitation or recommendation to buy, sell or hold securities. The material in this release is intended to be strictly informational and is NEVER to be construed or interpreted as research material. All readers are strongly urged to perform research and due diligence on their own and consult a licensed financial professional before considering any level of investing in stocks. All material included herein is republished content and details which were previously disseminated by the companies mentioned in this release or opinion of the writer. CAP/FPS/ CA is not liable for any investment decisions by its readers or subscribers. Investors are cautioned that they may lose all or a portion of their investment when investing in stocks. CAP/FPS/CA has been compensated $500 by a third party for dissemination of this article.
These news releases and postings may contain forward-looking statements within the meaning of the Securities Litigation Reform Act. The statements reflect the Company’s current views with respect to future events that involve risks and uncertainties. Among others, these risks include the expectation that any of the companies mentioned herein will achieve significant sales, the failure to meet schedule or performance requirements of the companies’ contracts, the companies’ liquidity position, the companies’ ability to obtain new contracts, the emergence of competitors with greater financial resources and the impact of competitive pricing. In the light of these uncertainties, the forward-looking events referred to in this release might not occur.
Company Name: Avalon GloboCare Corp
Contact Person: David K. Jin, President & CEO
Email: Send Email
Phone: (732) 780-4400
Address:4400 ROUTE 9 SOUTH SUITE 3100
State: New Jersey, 07728
Country: United States