In after-hours trading on Thursday, Avalon GloboCare Corp. (NASDAQ: AVCO) gained 9.24% to $0.77 after significant patent approval. The stock of AVCO gained 25.85% to $0.70 at the end of the last trading session.
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What approvals has AVCO received?
Avalon GloboCare (AVCO) released an update yesterday about its QTY protein code intellectual property portfolio.
Upon receipt of a Notice of Allowance from the United States Patent and Trademark Office (USPTO), Avalon GloboCare’s QTY fusion water-soluble receptor protein platform has been approved. In addition to seven claims related to the technology, a patent was filed with Dr. Shuguang Zhang of the Massachusetts Institute of Technology (MIT).
- In addition to its patent application, AVCO also filed a patent application with Dr. Shuguang Zhang of MIT related to its QTY glucose transporter technology.
- QTY glucose transporters are deregulated in many tumor types and could be an important cancer treatment target.
- In a breakthrough technology, the “QTY Code,” a transmembrane receptor protein that is water insoluble can be transformed into a soluble protein, enabling potential clinical applications, such as drug development.
- AVA-Trap is a proprietary technology developed by AVCO which transforms receptor molecules into antibody-like decoy receptors by using artificial intelligence (AI) enhanced QTY Code technology.
- In pathological conditions, such as COVID-19 and cancer metastasis, cytokines and chemokines are excessively produced, and these receptors are able to mop up the excess.
- Through the development of its novel QTY code protein design technology, Avalon GloboCare has further strengthened its IP portfolio, which could generate significant clinical advancements in cellular immunotherapy and immune-oncology.
- MIT’s QTY Code technology, which is AI-enhanced for protein design, was developed with Dr. Zhang.
- This platform is capable of producing water-soluble proteins that can be used in a variety of biomedical applications, including designing and building new targets for cellular immunotherapy.
What will be the next step for AVCO?
The USPTO has also received a new patent application from Avalon GloboCare (AVCO) pertaining to QTY glucose transporters, an important cancer therapy target. By using QTY technology, AVCO will be able to better understand these proteins and develop antibodies to treat them.