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Avalon GloboCare wins strategic partnership with GE Healthcare

Published: 07:00 23 Jul 2019 AEST

cell
The New Jersey company is a leading clinical-stage global developer of cell-based technologies and therapeutics

Avalon GloboCare Corp.(NASDAQ:AVCO), a leading clinical-stage global developer of cell-based technologies and therapeutics, announced Monday it has established a strategic partnership with GE Healthcare. 

Following the announcement, which came after the closing bell, the company’s stock rose 22% to $2.50 in after-market trading.

The Freehold, New Jersey-based company said the new 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-based regenerative therapeutics. 

Avalon also said the partnership could help it become a 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.

READ: Avalon GloboCare launches first-in-human study of AVA-001 for leukemia, non-Hodgkin lymphoma

Under the partnership, both companies 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.

Additionally, training will be conducted both at GE Healthcare and on-site at Avalon’s Nanjing Epicon GMP facility in China with access to GE Healthcare’s expert bio-manufacturing resources — with the hope that this operation could, too, accelerate the development of Avalon’s clinical and commercialization programs in cellular medicines.

“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,” said CEO Dr David Jin.

"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."

Contact the author: patrick@proactiveinvestors.com

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