Shares of Avalon GloboCare, a biotechnology company based in Freehold, N.J., soared 25% following the announcement of a notice of publication for one of their groundbreaking patents on receptor proteins.
Despite experiencing a decline of more than three-quarters year-to-date, this recent news has sparked renewed hope among investors. With the stock price rising to $1.25 in early trading, confidence in Avalon GloboCare appears to be on the rise.
The patent in question, titled "QTY Fc Fusion Water Soluble Receptor Proteins," holds immense potential within the field of medical science. The U.S. Patent and Trademark Office recognizes its significance and has issued a notice of publication.
Collaboratively filed by Avalon GloboCare and Dr. Shuguang Zhang from the renowned Massachusetts Institute of Technology, this patent focuses on the composition of matter and methodology for multiple novel QTY-Code modified cytokine and chemokine protein receptor molecules.
The patented technology offers a groundbreaking solution - it can effectively convert water-insoluble proteins into their water-soluble counterparts. This advancement is expected to revolutionize various clinical applications, according to Avalon's Chief Executive, David Jin.
By utilizing the QTY protein design, Avalon GloboCare has successfully developed soluble, antibody-like cytokine/chemokine decoy receptors. These receptors hold tremendous potential in addressing various medical challenges such as mitigating the 'cytokine storm' associated with Covid-19 and enhancing cellular immunotherapy delivery. Additionally, this technology broadens the range of therapeutic targets that can be effectively addressed by CAR T-cell therapies.
The team at Avalon GloboCare is thrilled with this achievement and believes it will have a lasting impact on medical science. The remarkable progress made by their researchers fills us with hope for a brighter future in healthcare.