Yulong Intends to Develop a Cell Biologics Incubator Lab
CHEYENNE, WY / ACCESSWIRE / September 9, 2020 / Yulong Eco-Materials Limited (OTC PINK:YECO) today announced that it intends to build an incubator laboratory for development of cell and extracellular vesicle (EV) based therapeutics.
Our state-of-the-art molecular and cellular biology lab will be equipped for the development of a series of young new cells (naïve) and bioengineered cell lines including mesenchymal stem cells (MSCs) and other progenitor cells. Isolated MSC-EVs have demonstrated remarkable and distinctive, biological properties that the Company intends to develop into safe and effective clinical therapeutics. The Company is also developing methods to optimize and use the unique biological properties of MSC and progenitor cell-derived EVs for specific clinical applications.
These applications include these new optimized EVs developed into biological drugs seeking FDA approval for several different clinical indications: acute lung injury (eg. COVID-19, influenza, acute respiratory distress syndrome), autoimmune and systemic inflammatory syndromes, osteoarthritis and other degenerative musculoskeletal disease, neurodegenerative conditions and old age (metabolic disease).
CEO Daniel Mckinney, said "we are aggressively developing an R&D program for these biopharmaceuticals along with preparations for submission of the corresponding Investigational New Drug applications "INDs" to the FDA. We will be implementing an innovative ‘outside-the-box' funding platform that will not require the issuance of any shares, thus minimizing dilution of existing shareholders. This new financing model will add tremendous equity and value to the Company".
The Company will be disclosing this new financing model soon.
EV Biologics is currently negotiating with several leading USA based stem cell companies pursuant to an acquisition.
The Company is currently in the process of changing the name of the Company and getting a new trading symbol with FINRA. Our new CUSIP number was issued on August 21st.
About the Company
EV Biologics (formerly Yulong Eco-Materials Limited) is a Wyoming, USA domiciled Biotechnology Company, intent on bringing human mesenchymal "MSC" and other stem cell and cell-derived products to market in the cosmetic and biopharmaceutical spaces. Initially, these novel and unique products will be specifically provided to the international clinical research community including universities and physicians and will be targeted to the aesthetic and regenerative medicine markets. Using proprietary and patentable technologies, the Company is creating exclusive IP and IT inherent in our superior products. Further product development will be focused on investigation of novel stem cell-derived biopharmaceuticals designed for specific clinical conditions.
This press 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 6.21 million shares issued and outstanding with a float of 1,016,375 shares.
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SOURCE: Yulong Eco-Materials Limited
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