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EV Biologics Confirms Funding to Commence Cell Line Generation & Advance Exosome Research
EV Biologics Confirms Funding to Commence Cell Line Generation & Advance Exosome Research.
About this update from Yulong Eco-materials Limited
[{"type":"text","content":"NASHVILLE, TN / ACCESSWIRE / April 8, 2021 / EV Biologics Corp (OTC PINK:YECO) today announced that it has signed a director's loan agreement to secure funding of up to $5 million to start generation of a novel exosome-producer cell line and production of therapeutic exosomes for preclinical research.The Company has finalized its preparation and is ready to begin generation of a novel exosome-producer master cell bank to enable manufacturing of therapeutic exosomes with improved intrinsic bioactivity at a commercially relevant scale. Our internal research indicates that this producer cell line and its derivatives will produce exosomes with native bioactivity superior to those manufactured using common producer cells, such as mesenchymal stem cells isolated from bone marrow, adipose tissue or umbilical cord, or exosomes found naturally in amniotic fluid.This internal funding will finance immediate generation of this master cell bank, which will serve as a versatile platform for production of exosomes with a broad scope of potential clinical applications. These funds will also enable immediate production of research-grade exosomes from induced pluripotential stem cells (iPSCs) and their derivatives for evaluation of native exosome bioactivity and further bioengineering. This research will inform and expedite our ongoing effort to engineer exosomes optimized for specific clinical applications.CEO Daniel Mckinney, said "we have set an aggressive timeline to produce our own optimized cell line and exosomes, and with this funding we will achieve it. Our ultimate audacious goal is to conquer incurable diseases and to revolutionize modern medicine."The director's loan will be repaid in cash after the intended security token sale later this summer. No shares will be issued pursuant to any future funding.EV Biologics is building a world-class team of exosome biotechnology experts specializing in molecular biology, biochemical engineering, biomanufacturing, cellular biochemistry, bioinformatics and computational biology.Please visit our website: www.evbiologics.com/aboutEV Biologics was previously a NASDAQ-listed company and intends to up-list to a mainboard exchange again before the end of 2021.ExosomesExosomes are nano-sized vesicles that serve as mediators for cell-to-cell communication. With their unique nucleic acids...