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Avalon GloboCare forms US subsidiary Avactis Biosciences to focus on CAR-T cell therapies

Last updated: 12:28 18 Jul 2018 EDT, First published: 12:00 18 Jul 2018 EDT

Cancer cells
CAR-T is a revolutionary cancer immunotherapy that involves modifying T cells to fight cancerous cells

Avalon GloboCare Corp (OTCQB:AVCO) has formed a wholly owned US subsidiary, Avactis Biosciences Inc, to focus on building a business related to its proprietary CAR-T cell therapies.

CAR-T is a cancer immunotherapy that involves genetically modifying T cells to activate the immune system to recognize and destroy cancer cells.

The hope is that the new subsidiary Avactis Biosciences will take on the work of CAR-T bio-manufacturing, standardization and bio-banking for the LuDaopei Hospital network in China, which is affiliated with Avalon Globo Care. It will also provide collaborative research and training programs for clinicians and scientists who are involved in CAR-T therapy.

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“Our plan is to establish a unique, full-suite integrated system for CAR-T bio-manufacturing, standardization, international multi-centered clinical studies, and intelligent bio-banking, positioning Avactis Biosciences to become a key player in the CAR-T therapy sector,” said David Jin, chief executive of Avalon GloboCare Corp, in a statement.

Avalon’s chief affiliated clinical facility is the Hebei Yanda LuDaopei Hospital, which is located in the outskirts of Beijing. The hospital has completed over 300 cases of CAR-T therapy.

“Given the dramatic growth in the CAR-T cellular immunotherapy sector in recent years, and our access to cutting edge technologies through the LuDaopei Hospital in China and leading research institutions in the US, we made the strategic decision to form Avactis Biosciences in order to accelerate our commercial activities,” added Jin.

Headquartered in Freehold, New Jersey, Avalon specializes in developing cell-based technologies, but is also involved in the management of stem cell banks and clinical laboratories.

Avalon’s shares were flat at US$2.60 in the early afternoon session.

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