Avalon GloboCare launches Avactis Biosciences subsidiary 23rd July 2018
Avalon GloboCare, a global developer of cell-based technologies and therapeutics, has formed a new wholly owned US subsidiary, Avactis Biosciences, which will focus on accelerating commercial activities related to its Chimeric Antigen Receptor (CAR)-T technologies, and will integrate and optimize the company’s global scientific and clinical resources. CAR-T is a novel and revolutionary cancer immunotherapy that involves genetically modifying T cells to activate the immune system to recognize and destroy cancer cells.
Avalon GloboCare’s main affiliated clinical facility, the Hebei Yanda LuDaopei Hospital, has completed more than 300 cases of CAR-T therapy targeting CD19, CD22 and CD123. Avactis Biosciences will take on specific roles in CAR-T bio-manufacturing, standardization, and bio-banking for the LuDaopei Hospital network and other affiliated hospitals, as well as provision of collaborative research and training programs for clinicians and scientists who are involved in CAR-T therapy and technology development.
David Jin, MD, PhD, chief executive officer and president of Avalon GloboCare and the newly established subsidiary Avactis Biosciences, said, “Within Avalon GloboCare is the Company’s Avalon Cell division, which has traditionally focused on regenerative medicine, liquid biopsy/in vitro diagnostics, as well as immunotherapy. 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 U.S., we made the strategic decision to form Avactis Biosciences in order to accelerate our commercial activities. We are excited to concentrate our CAR-T activities within Avactis Biosciences and launch what we believe will become a premium CAR-T bio-enterprise.”