Avalon GloboCare Adds Cell Therapy-Based Candidates For Cancer With SenlangBio Acquisition: Highlights

Avalon GloboCare Corp AVCO has agreed to acquire Hebei Senlang Biotechnology, dubbed SenlangBio, a China-based cell therapy company, in an all-stock transaction.
In connection with the transaction, Avalon will issue 81 million shares of its common stock.
The acquisition will add SenlangBio's diverse and broad pipeline covering solid tumors and hematologic malignancies, including both autologous and off-the-shelf cell therapy programs.
The acquisition adds 16,000 square-foot large-scale bio-manufacturing capabilities and capacities, including:
- Five production lines are dedicated to autologous CAR-T with an estimated annual capacity to produce 5,000-unit doses.
- Two universal (off-the-shelf) production lines with an estimated annual output of 10,000-unit doses of CAR-γδT cell therapy products.
An institutional healthcare investor has also agreed to invest approximately $$30 million in exchange for about 15.6% of the equity ownership of SenlangBio in a private placement financing.
Management: David Jin will continue to serve as President and CEO of Avalon GloboCare and co-CEO of the SenlangBio subsidiary.
Jianqiang Li, scientific founder and CSO of SenlangBio, will join the board of directors of Avalon and serve as the CTO of Avalon.
Price Action: AVCO shares are down 2.42% at $1.21 during the market session on the last check Monday.