Avalon GloboCare Corp., (NASDAQ: ALBT) a developer of innovative precision diagnostics and provider of clinical laboratory services just announced that the United States Patent and Trademark Office (USPTO) has issued a Notice of Publication for U.S. Patent No. 11,555,060, titled “QTY Fc Fusion Water Soluble Receptor Proteins.” The publication may be accessed through the USPTOs publicly available Searchable Databases via the Internet at www.uspto.gov.
The patent covers the composition of matter and methodology for multiple novel QTY-code modified cytokine and chemokine protein receptor molecules. The patent was jointly filed with Dr. Shuguang Zhang of the Massachusetts Institute of Technology (MIT).
The “QTY Code” is a breakthrough technology that has the potential to turn difficult to work with water-insoluble transmembrane receptor proteins into water-soluble proteins, greatly enhancing the solubility of designer peptides and proteins, therefore expanding the repertoire of selected therapeutic targets against cancers and other diseases.
“We are pleased to announce this notice of publication from the USPTO for our QTY code protein design platform, which was developed together with Professor Shuguang Zhang’s laboratory at MIT,” stated David Jin, M.D., Ph.D., President and Chief Executive Officer of Avalon GloboCare.
“Our patented technology has the potential to turn water-insoluble proteins that normally reside within cellular membranes—and that can be difficult to work within the laboratory—into water-soluble proteins that can be potentially used in many clinical applications. The resulting soluble, antibody-like cytokine/chemokine decoy receptors derived using the QTY protein design, have many potential applications including mitigation of the “cytokine storm” associated with COVID-19 and cellular immunotherapy delivery, as well as broadening the range of therapeutic targets addressable by CAR T-cell therapies.”
Other related developments from around the markets include news from Insmed Inc. (NASDAQ: INSM), Vir Biotechnology (NASDAQ: VIR), Co-Diagnostics (NASDAQ: CODX), and AN2 Therapeutics (NASDAQ: ANTX).
Insmed Inc., a global biopharmaceutical company on a mission to transform the lives of patients with serious and rare diseases, reported financial results for the second quarter ended June 30, 2023 and provided a business update. “The second quarter of 2023 demonstrated the strongest quarter of ARIKAYCE sales since launch, reflecting positive momentum in the U.S. and earlier than anticipated signs of growth in Japan,” commented Will Lewis, Chair and Chief Executive Officer of Insmed. “In the midst of this strong commercial performance, we are preparing for a series of data readouts that we hope will drive shareholder value and meaningful outcomes for patients. Leveraging our growing commercial business, mid- to late-stage pipeline assets, and early-stage research efforts, we are strategically constructing what we hope will be the next leading and self-sustaining biotechnology company.”
Vir Biotechnology provided a corporate update and reported financial results for the second quarter ended June 30, 2023. “Our strategy is to prioritize our monoclonal antibody platform, which has already yielded two impactful medicines for patients and, along with our artificial intelligence-enabled capabilities, plan to apply it more broadly in infectious diseases and beyond,” said Marianne De Backer, M.Sc., Ph.D., MBA, Vir’s Chief Executive Officer. “As we execute on this strategy, we look forward to our near-term catalysts, which include data readouts from our Phase 2 chronic hepatitis B and hepatitis delta programs in the fourth quarter. Our future prospects are rich with opportunity based on our deep pipeline and strong balance sheet.”
Co-Diagnostics’ Dwight Egan, Co-Chief Executive Officer, said, “While sales of our COVID diagnostic kits declined as expected, we continue to strengthen our position as we seek to expand our advanced PCR technology reach beyond the four walls of the lab to the places of greatest unmet need. We remain on track for FDA submission of our new Co-Dx PCR Home platform and initial testing product by the end of this year.
AN2 Therapeutics reported financial results for the quarter ended June 30, 2023. “We’re pleased with the accelerated pace of enrollment in our pivotal Phase 2/3 study evaluating epetraborole for treatment-refractory MAC lung disease and believe we currently have sufficient patients in screening to initiate Phase 3 next month, immediately after we complete enrollment in the Phase 2 portion of the study. Continued momentum in the Asia-Pacific region coupled with the modifications we made to our clinical trial protocol had a positive impact on study enrollment,” said Eric Easom, Co-Founder, President and Chief Executive Officer. “With over $95 million in cash and cash equivalents, including proceeds from the at-the-market transaction closed during the quarter, we believe we are capitalized through the expected data readout of the Phase 2 portion of our pivotal trial and through the end of 2024. We remain committed to our vision of developing therapeutics to treat rare, chronic, and serious infectious diseases in areas of high unmet medical need.”
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