Business
Avalon GloboCare Signs Agreement with Qi Diagnostics to Exclusively Distribute KetoAir Breathalyzer Device and AI-Enabled Software in North America, South America, U.K. and European Union
Commercialization-ready; initially targeting diabetes reversal and weight management markets Coupling diagnostic tools with advanced artificial intelligence
About this update from Avalon Globocare Corp.
[{"type":"text","content":"Commercialization-ready; initially targeting diabetes reversal and weight management markets Coupling diagnostic tools with advanced artificial intelligence software for nutrition management FREEHOLD, N.J., April 11, 2023 (GLOBE NEWSWIRE) -- Avalon GloboCare Corp. (“Avalon” or the “Company”) (NASDAQ: ALBT), a developer of innovative cell-based technology, cellular therapy and precision diagnostics, today announced that it has signed an agreement with Qi Diagnostics Limited (“Qi Diagnostics”), for exclusive distribution rights to market Qi Diagnostics’ KetoAir™ breathalyzer device and related accessories, including current and future models, in North America, South America, the U.K. and the European Union. KetoAir™ functions as companion diagnostic and monitoring device for ketogenic dietary management and will initially target the diabetes reversal and weight management markets. Qi Diagnostics is a medical device company with expertise in the development and manufacturing of proprietary Volatile Organic Compound (VOC) nanosensor-based in vitro diagnostic and screening devices. Qi Diagnostics has developed KetoAir™, a breathalyzer combined with an artificial intelligence (AI) nutritionist consultation for ketogenic health management that has been approved by the United States Food and Drug Administration. Avalon and Qi-Diagnostics also intend to collaborate to co-develop a breathalyzer device for potential screening and early detection of lung cancer and will have joint ownership of any and all intellectual property arising from or generated in the co-development of a lung cancer breathalyzer product(s). “We are very excited to partner with Qi Diagnostics to exclusively distribute the KetoAir™ in North America, South America, the U.K. and the EU. Our initial go-to-market strategy will target diabetes reversal and obesity management. Increasing clinical evidence has demonstrated that nutritional ketosis is one of the most effective treatment options for sustainably reversing diabetes and weight management. A proper ketogenic diet has been clinically proven to reduce blood sugar, improve insulin sensitivity, and reduce inflammation,” stated David Jin, M.D., Ph.D., President and Chief Executive Officer of Avalon GloboCare. “Being able to safely and consistently maintain nutritional ketosis has been shown to increase the chances of d...