Avalon’s Laboratory Services MSO Launches Innovative Laboratory Test for Tuberculosis
New Proprietary Testing Method Makes Tuberculosis Diagnosis Easier and Faster
New Test Method Expected to Generate Revenue in 2023
FREEHOLD, N.J., Aug. 30, 2023 (GLOBE NEWSWIRE) -- Avalon GloboCare Corp. (“Avalon” or the “Company”) (NASDAQ: ALBT), a developer of innovative precision diagnostics and provider of clinical laboratory services, today announced that Laboratory Services MSO, LLC (“LSM”) is now offering an in-house laboratory developed test (“LDT”) to detect Tuberculosis (“TB”) using a patient’s sputum sample. Avalon owns a 40% interest in LSM.
LSM’s new polymerase chain reaction (“PCR”) test allows for accurate and rapid identification of Mycobacterium tuberculosis (“Mtb”) from samples. The use of sputum samples to detect Mtb provides easier collection and transport than blood samples, which are used in protein-based chemiluminescent immuno-assays.
TB is an airborne, highly contagious, infectious disease caused by Mtb. Most frequently, TB affects the lungs, however, it can also cause disease in any part of the body, such as the lymph nodes, bones, brain, eyes and other organs. TB is a serious disease that kills about 1.4 million people each year worldwide. TB infection begins without symptoms before becoming active. This inactive carrier state is called latent TB infection (“LTBI”) and can persist for weeks, months, or years before developing into active contagious disease. Rapid and accurate identification of Mtb is crucial for controlling the spread of the disease and treating patients for a faster recovery.
The most frequently used diagnostic methods for tuberculosis are the tuberculin skin test, acid-fast stain, culture, and polymerase chain reaction. The skin test is a 120-year-old test, which requires the patient to make repeat visits to the clinic, followed by a chest X-ray to confirm a positive test result. The skin test takes several days to show a reaction. LSM’s PCR-based test can be performed in under 2 hours and the patient needs only one visit to the clinic to provide a sputum sample with no needle stick required.
“LSM is at the forefront of new testing technology and developing new methods to improve on the standard diagnostic technologies,” commented, David Jin, M.D., Ph.D., President and Chief Executive Officer of Avalon. “We believe this is a revolutionary test as it detects a positive result within 24 hours, which is much faster than the old skin test that has to be read after 72 hours, and doesn’t require a blood sample to be collected. This test uses a proprietary master-mix formulation and PCR amplification method to achieve a high analytical limit of detection, as compared to the standard limit of detection, resulting in a lower false positive rate. This test also has a significantly higher throughput and much lower cost per test as compared to the standard diagnostic tests. We look forward to offering this new TB test to healthcare providers nationwide.”
About Avalon GloboCare Corp.
Avalon GloboCare Corp. (NASDAQ: ALBT) is a commercial stage company dedicated to developing and delivering innovative, transformative, precision diagnostics and clinical laboratory services. Avalon is establishing a leading role in the innovation of diagnostic testing, utilizing proprietary technology to deliver precise, genetics-driven results. The Company also provides laboratory services, offering a broad portfolio of diagnostic tests including drug testing, toxicology, and a broad array of test services, from general bloodwork to anatomic pathology, and urine toxicology. For more information about Avalon GloboCare, please visit www.avalon-globocare.com.
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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 LSM. 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.
Avalon GloboCare Corp.
4400 Route 9, Suite 3100
Freehold, NJ 07728
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Tel: (212) 671-1020 Ext. 304
Released August 30, 2023