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
11 April 2023 - 11:00PM
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
diabetes reversal. KetoAir™ is the first breathalyzer on the market
that uses an artificial intelligence (AI) nutritionist bundled with
the nanosensor-based breathalyzer for ketogenic health management.
It can detect and quantify acetone levels in the breath and monitor
the ketosis state, while also providing 24/7 nutritional advice. We
look forward to commercializing KetoAir™ and helping those
individuals with diabetes and weight management needs.”
The parties intend to enter into a definitive
agreement regarding the final terms and pricing but there can be no
assurance that such agreement will be entered into on terms
acceptable to Avalon or at all.
About Avalon GloboCare Corp.
Avalon GloboCare Corp. (NASDAQ: ALBT) is a
clinical-stage biotechnology company dedicated to developing and
delivering innovative, transformative cellular therapeutics,
precision diagnostics, and clinical laboratory services. Avalon
also provides strategic advisory and outsourcing services to
facilitate and enhance its clients’ growth and development, as well
as competitiveness in healthcare and CellTech industry markets.
Through its subsidiary structure with unique integration of
verticals from innovative R&D to automated bioproduction and
accelerated clinical development, Avalon is establishing a leading
role in the fields of cellular immunotherapy (including CAR-T/NK),
exosome technology (ACTEX™), and regenerative therapeutics. For
more information about Avalon GloboCare, please visit
www.avalon-globocare.com.
For the latest updates on Avalon GloboCare’s
developments, please follow our twitter at @avalongc_avco
Forward-Looking Statements
Certain statements contained in this press
release may constitute “forward-looking statements.”
Forward-looking statements provide current expectations of future
events based on certain assumptions and include any statement that
does not directly relate to any historical or current fact,
including statements regarding the ability to enter into a
definitive agreement, the commercialization of KetoAir and the
potential development of a lung cancer breathalyzer. Actual results
may differ materially from those indicated by such forward-looking
statements as a result of various important factors as disclosed in
our filings with the Securities and Exchange Commission located at
their website (http://www.sec.gov). In addition to these factors,
actual future performance, outcomes, and results may differ
materially because of more general factors including (without
limitation) general industry and market conditions and growth
rates, economic conditions, and governmental and public policy
changes. The forward-looking statements included in this press
release represent the Company's views as of the date of this press
release and these views could change. However, while the Company
may elect to update these forward-looking statements at some point
in the future, the Company specifically disclaims any obligation to
do so. These forward-looking statements should not be relied upon
as representing the Company's views as of any date subsequent to
the date of the press release.
Contact Information: Avalon GloboCare Corp.4400
Route 9, Suite 3100Freehold, NJ 07728PR@Avalon-GloboCare.com
Investor Relations:Crescendo Communications, LLCTel: (212)
671-1020 Ext. 304albt@crescendo-ir.com
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