EV Biologics Corp (OTC PINK:YECO) today announced that it has signed a director’s loan agreement to secure funding of up to $5 million to start generation of a novel exosome-producer cell line and production of therapeutic exosomes for preclinical research.
The Company has finalized its preparation and is ready to begin generation of a novel exosome-producer master cell bank to enable manufacturing of therapeutic exosomes with improved intrinsic bioactivity at a commercially relevant scale. Our internal research indicates that this producer cell line and its derivatives will produce exosomes with native bioactivity superior to those manufactured using common producer cells, such as mesenchymal stem cells isolated from bone marrow, adipose tissue or umbilical cord, or exosomes found naturally in amniotic fluid.
This internal funding will finance immediate generation of this master cell bank, which will serve as a versatile platform for production of exosomes with a broad scope of potential clinical applications. These funds will also enable immediate production of research-grade exosomes from induced pluripotential stem cells (iPSCs) and their derivatives for evaluation of native exosome bioactivity and further bioengineering. This research will inform and expedite our ongoing effort to engineer exosomes optimized for specific clinical applications.
CEO Daniel Mckinney, said “we have set an aggressive timeline to produce our own optimized cell line and exosomes, and with this funding we will achieve it. Our ultimate audacious goal is to conquer incurable diseases and to revolutionize modern medicine.”
The director’s loan will be repaid in cash after the intended security token sale later this summer. No shares will be issued pursuant to any future funding.
EV Biologics is building a world-class team of exosome biotechnology experts specializing in molecular biology, biochemical engineering, biomanufacturing, cellular biochemistry, bioinformatics and computational biology.
Please visit our website: www.evbiologics.com/about
EV Biologics was previously a NASDAQ-listed company and intends to up-list to a mainboard exchange again before the end of 2021.
Exosomes are nano-sized vesicles that serve as mediators for cell-to-cell communication. With their unique nucleic acids, proteins, and lipids cargo compositions that reflect the characteristics of producer cells, exosomes can be utilized as cell-free therapeutics. – Cells, 2020
The intrinsic properties of exosomes in regulating complex intracellular pathways has advanced their potential utility in the therapeutic control of many diseases, including neurodegenerative conditions and cancer. Exosomes can be engineered to deliver diverse therapeutic payloads, including short interfering RNAs, antisense oligonucleotides, chemotherapeutic agents, and immune modulators, with an ability to direct their delivery to a desired target. – Science, 2020
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 7.22 million shares issued and outstanding with a float of 1,016,375 shares.