EV Biologics Corp, OTC PINK:YECO, today announced that it has succeeded in isolating primary progenitor cells from tissue using a xeno-free process.
The Company has been developing an improved process for isolation of progenitor cells from tissue to generate cell banks for therapeutic nanoparticle production and further cell line development. This Process Development will continue with iterative optimization to improve its standardization and compliance with Good Manufacturing Practice (GMP).
This primary progenitor cell bank will be used in Process Development for therapeutic nanoparticle production. The Company is evaluating cell culture systems and conditions for therapeutic nanoparticle production to enhance the quantitative and qualitative yield. The Company’s goal is GMP-compliant production of its first iteration of nanoparticle therapeutics by Q2, 2023.
The Company is also developing an accelerated process for engineered nanoparticle-producer cell line development. This primary progenitor cell bank and future cell banks, generated with the optimized isolation process, will serve as a pool of precursor cells for further cell line development.
CEO, Daniel Mckinney, said “We are driven to achieve our fiduciary goal of building substantial shareholder value, while remaining focused on our technological objectives of developing a new range of nanoparticle therapeutics to provide a longer and healthier lifespan. We are on the cutting edge of this new science.”
About the Company
EV Biologics (formerly Yulong Eco-Materials Limited) is a Wyoming, USA domiciled Biotechnology Company, developing a range of nanotherapeutics to substantially enhance the intrinsic bioactivity of stem and progenitor cell-derived nanoparticles. The Company is also developing biomanufacturing, bioinformatic and bioengineering innovations to optimize production of nanoparticle therapeutics and biologics. These versatile therapeutic platforms will enable generation of nanotherapeutics targeting a broad range of regenerative medicine and longevity applications.
This news release contains forward-looking statements, particularly as related to, among other things, the business plans of the Company, statements relating to goals, plans and projections regarding the Company’s financial position and business strategy. The words or phrases “plans,” “would be,” “will allow,” “intends to,” “may result,” “are expected to,” “will continue,” “anticipates,” “expects,” “estimate,” “project,” “indicate,” “could,” “potentially,” “should,” “believe,” “think,” “considers” or similar expressions are intended to identify “forward-looking statements.” These forward-looking statements fall within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934 and are subject to the safe harbor created by these sections. Actual results could differ materially from those projected in the forward-looking statements as a result of a number of risks and uncertainties. Such forward-looking statements are based on current expectations, involve known and unknown risks, a reliance on third parties for information, transactions or orders that may be cancelled, and other factors that may cause our actual results, performance or achievements, or developments in our industry, to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from anticipated results include risks and uncertainties related to the fluctuation of local, regional, and global economic conditions, the performance of management and our employees, our ability to obtain financing, competition, general economic conditions and other factors that are detailed in our periodic reports and on documents we file from time to time with the Securities and Exchange Commission. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date, and the Company specifically disclaims any obligation, to update any forward-looking statements to reflect occurrences, developments, unanticipated events or circumstances after the date of such statement.
YECO has 7.22 million shares issued and outstanding with a float of 1,016,375 shares.