Avalon Globocare Corp (NASDAQ: AVCO) is a clinical-stage developer of cell-based therapeutics and technologies. The company recently announced that it was going to acquire Senlang Biotechnology Ltd. SenlangBio, a limited liability PRC company, is currently one of the biggest cell-therapy companies based in the northern part of China when it comes to the bio-manufacturing depth, breadth and scale of pre-clinical research and development programs. Slang Biotechnology’s core tech platforms include armored tumor-infiltrating lymphocytes, allogenic Gamma Delta T-cells and antigen receptor T-cells. Avalon Globocare will get the proprietary cellular therapy portfolio of SenlangBio, which consists of several allogeneic and autologous candidates, including single-target therapies and “cocktail” combos.
Avalon is set to issue 81-million of its common stock shares to acquire SenlangBio. The Acquisition terms will be contained in Avalon’s Current Report. The company plans to seek stockholder approval so that it can get the Acquisition Shares. They also intend on seeking the Equity Financing shares as well, according to the Nasdaq Stock Market rules.
- The Acquisition will add Senlang Biotech’s broad and diverse pipeline that covers hematologic malignancies and solid tumors, including universal and autologous cell therapy programs.
- More than 300 patients have already received one of the company’s cell therapy candidate drugs via first-in-human investigator-initiated clinical trials and thirteen covering medical institutions, covering nine indications with rare or unmet medical needs.
- The Acquisition will add proprietary cell expansion expertise and advanced gene/cell engineering to enable both the development and design of cell therapy candidates that have superior therapeutic safety and efficacy profiles.
- The Acquisition includes SenlangBio’s wholly-owned subsidiary, SenlangBio Clinical Lab, which offers 3rd-party clinical testing services, including cell-therapy testing like immuno-phenotyping, cancer biomarkers, immunology, and hematology, as well as general proteomic, genomic and biochemical testing.
Avalon Globocare’s CEO and President, David Jin M.D., said that the transaction was an affirmation of the company’s commitment to bringing the world life-saving cell and gene therapies. He further stated that SenlangBio’s advanced gene and cell engineering techniques have allowed the company to be able to come up with innovative core technologies for highly effective cell cancer therapies. The company’s CAR-T autologous candidates are already showing significant positive responses.