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Avalon GloboCare Announces Diagnostic Platform for Point-of-Care Rapid Detection of COVID-19 (SARS-CoV-2) and Its Clinically Relevant Mutation Strains
Entered Into Strategic Partnership with GensKey Medical Technology Co. Ltd. to Co-Develop and Commercialize Point-of-Care Antibody-Based IgG/IgM and PCR-Based
About this update from Avalon Globocare Corp.
[{"type":"text","content":"Entered Into Strategic Partnership with GensKey Medical Technology Co. Ltd. to Co-Develop and Commercialize Point-of-Care Antibody-Based IgG/IgM and PCR-Based SARS-CoV-2 Detection Systems, Both of Which are CE Mark Certified and Pending FDA Emergency Use Authorization (EUA)Initiated Preemptive Research Program to Generate Rapid Tests for Clinically Relevant SARS-CoV-2 Mutation Strains Plans to Establish a U.S. Facility for Manufacturing and Assembly of SARS-CoV-2 Rapid Detection Systems for Global Commercialization FREEDHOLD, N.J., June 08, 2020 (GLOBE NEWSWIRE) -- Avalon GloboCare Corp. (NASDAQ: AVCO), a clinical-stage global developer of cell-based therapeutics and in vitro diagnostics, announced today that the Company has entered into a strategic partnership with GensKey Medical Technology Co. Ltd. to co-develop and commercialize point-of-care, rapid detection antibody tests to help identify whether a patient has been exposed to and has developed antibodies against SARS-CoV-2, the new coronavirus that causes COVID-19. The two companies will also co-develop and commercialize a polymerase chain reaction (PCR)-based diagnostic test to facilitate the diagnosis of an infection by the SARS-CoV-2 virus. Both detection tests are already CE mark certified and are currently pending approval by the United States Food and Drug Administration (FDA) under the Emergency Use Authorization (EUA) pathway. Avalon also intends to pursue the establishment of a cGMP facility in the United States for the manufacturing and assembly of the COVID-19 detection systems.\n SARS-CoV-2 is an enveloped RNA virus that accumulates genetic mutations over time. These SARS-CoV-2 mutant variants are important to characterize and detect as they may have clinical significance in terms of virulence and infectivity. Avalon has initiated a preemptive platform to identify and detect clinically relevant SARS-CoV-2 mutations using point-of-care antibody-based rapid detection assays and PCR-based genomic tests. The SARS-CoV-2 mutation bioinformatic profile may also contribute to the future development of vaccines and anti-viral therapeutics. “Avalon GloboCare is committed to combating the COVID-19 pandemic by leveraging our technical expertise and collaborative repertoire,” stated David Jin, M.D., Ph.D., President and Chief Executive Officer of Avalon GloboCare. “We are s...