NEW YORK (GenomeWeb) – Avalon GloboCare said today that its newly formed, majority-owned subsidiary GenExosome Technologies has acquired 100 percent of the outstanding capital stock of a Chinese exosome technology company called Beijing Jieteng (Beijing GenExosome) Biotech.

The new Avalon-owned GenExosome subsidiary has also closed an asset purchase agreement with the Beijing firm's CEO Yu Zhou, which pertains to Zhou's IP, patents and patent applications for research, development, and commercialization of exosome technologies.

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