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Avalon GloboCare (NASDAQ:AVCO) and GE Healthcare (NYSE:GE) Announce Strategic Partnership to Accelerate Standardized Automation and Bio-Production for Cellular Medicines

Via: ReleaseWire

Updated 12:08 PM CDT, Mon, July 29,2019

The partnership combines GE Healthcare's renowned expertise in the design and development of innovative bio-manufacturing technologies and Avalon's scientific and clinical expertise for the cellular medicine industry.

Freehold, NJ -- (ReleaseWire) -- 07/29/2019 -- Avalon GloboCare Corp. (NASDAQ:AVCO), a leading clinical-stage global developer of cell-based technologies and therapeutics, today announced that they have established a strategic partnership with GE Healthcare (NYSE:GE) . The partnership will accelerate Avalon's standardization, automation and bio-production for clinical-grade Chimeric Antigen Receptor (CAR)-T cells and other immune-effector cells for cellular immunotherapy, as well as exosomes/extracellular vesicles (EV) based regenerative therapeutics. The combination of expertise sets the stage for Avalon to be the leader in cellular medicines with the ability to execute on the complete development lifecycle from innovation through bio-production to the delivery and management of treatment at hospitals for patients. This infrastructure and depth of capabilities ensures the successful execution of the company's ongoing clinical trials.

Under this partnership, both Avalon and GE Healthcare will strategically establish automated and standardized GMP cell production capabilities. Avalon will be given access to GE Healthcare's cell processing expertise and products in the form of FlexFactory Cell Therapy platform, FastTrak process development and training services, as well as extensive SOP and validation protocol library. Additionally, user training will be conducted both at GE Healthcare and on-site at Avalon's Nanjing Epicon GMP facility with access to GE Healthcare's expert bio-manufacturing resources. In conjunction with Avalon's extensive clinical network in China, this strategic partnership will empower Avalon to improve manufacturing throughput and efficiency, alleviate cost burden, and minimize variability in the automated and standardized bio-production process of clinical-grade cellular products (such as CAR-T, CAR-NK, and stem cell-derived exosomes/EV), therefore, accelerating the development of Avalon's clinical and commercialization programs in cellular medicines.

"We are pleased to establish this strategic partnership with GE Healthcare. This is a crucial and exciting time in the evolution of cellular medicines and our combined skills will drive Avalon to move innovation forward and ultimately deliver the best therapeutic solutions for patients. This partnership enables Avalon to more fully leverage and integrate our core technology platforms and accelerate our clinical programs in cellular immunotherapy and stem cell-derived exosome-based regenerative therapeutics. Empowered by GE's leading automation and standardized cell processing/bio-production capabilities, we look forward to further upgrading our infrastructure, services and products, as well as expanding our leadership role in cellular medicines," stated David Jin, M.D., Ph.D., President and Chief Executive Officer of Avalon GloboCare.

"Cellular medicines as a bio-industry sector has been growing and evolving at a rapid pace during recent years with vast potential to change the way various diseases are managed. GE Healthcare continues investing in technologies and services aimed at the thriving cellular medicine industry with a firm commitment of making these promising cellular therapeutic modalities accessible through successful industrialization. We are pleased to work with Avalon GloboCare, a global leader in cell-based therapeutics and exosome technology, who share our mission and vision for advancing innovation and delivering automation, standardization and bio-production solutions for cellular medicines," said Angela Chen, GE Healthcare CGT Global Commercial Enterprise Solution Leader.

About Avalon GloboCare Corp:
Avalon GloboCare Corp. (NASDAQ:AVCO) is a clinical-stage, leading CellTech bio-developer dedicated to advancing and empowering innovative, transformative exosome technologies and cellular therapeutics. Avalon also provides strategic advisory and outsourcing services to facilitate and enhance its clients' growth, development, as well as competitiveness in healthcare and CellTech industry markets. Through its subsidiaries, namely GenExosome Technologies Inc. and Avactis Biosciences Inc., Avalon is establishing a leading role in the fields of exosome-based diagnostics (''liquid biopsy''), cellular immunotherapy (including CAR-T/CAR-NK), and regenerative therapeutics. For more information about Avalon GloboCare, please visit www.avalon-globocare.com

About GE Healthcare:
GE Healthcare helps therapy innovators, researchers and healthcare providers accelerate how precision diagnostics and therapies are invented, made and used. The products enable biological analysis, research, development and the manufacture of advanced therapies and vaccines. From medical imaging, software and IT, patient monitoring and diagnostics to drug discovery, biopharmaceutical manufacturing technologies, cellular medicines, and performance improvement solutions, GE Healthcare aims to improve outcomes for healthcare providers and for therapy innovators around the world to achieve increased capacity, improved productivity and better patient outcomes. For more information about GE Healthcare, please visit www.gehealthcare.com

Forward-Looking Statements:
Certain statements contained in this press release may constitute "forward-looking statements." Forward-looking statements provide current expectations of future events based on certain assumptions and include any statement that does not directly relate to any historical or current fact. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors as disclosed in our filings with the Securities and Exchange Commission located at their website (http://www.sec.gov). In addition to these factors, actual future performance, outcomes, and results may differ materially because of more general factors including (without limitation) general industry and market conditions and growth rates, economic conditions, and governmental and public policy changes. The forward-looking statements included in this press release represent the Company's views as of the date of this press release and these views could change. However, while the Company may elect to update these forward-looking statements at some point in the future, the Company specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing the Company's views as of any date subsequent to the date of the press release.

Contact Information:
Avalon GloboCare Corp.

4400 Route 9, Suite 3100

Freehold, NJ 07728

PR@Avalon-GloboCare.com

Investor Relations:

Crescendo Communications, LLC

Tel: (212) 671-1020 Ext. 304

avco@crescendo-ir.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/826aecfd-f7a7-46e7-b08d-1372f28588ef

Source: Avalon GloboCare Corp.

This article appears in: News Headlines

Referenced Stocks: AVCO, GE

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