EXCLUSIVE: Avalon's Lab Services MSO Poised To Commercialize FDA-Registered External Male Catheter Device

On Wednesday, Avalon GloboCare Corp. ALBT announced that Laboratory Services MSO, LLC has begun manufacturing the GeeWhiz External Condom Catheter, a patented, FDA-registered, in-market, male incontinence device.

Avalon owns a 40% interest in Laboratory Services MSO.

Laboratory Services MSO plans to launch its sales of the GeeWhiz External Condom Catheter in the third quarter of 2024.

According to Grand View Research, the global male urinary incontinence market size was valued at $6.37 billion in 2022 and is anticipated to grow at a compound annual growth rate (CAGR) of 5.87% from 2023 to 2030.

“We are thrilled to introduce the GeeWhiz External Condom Catheter to the market in the anticipated upcoming launch,” stated David Jin, President and Chief Executive Officer of Avalon GloboCare.

“The GeeWhiz External Condom Catheter represents a significant advancement in managing male incontinence. Not only is this device FDA-registered and approved for reimbursement by Medicare, but it is also supported by several private insurance providers.”

Recently, Avalon GloboCare’s Laboratory Services MSO launched a direct-to-consumer and noninvasive DNA test in the U.S. to test for potential predisposition to opioid dependence.

DNA4Addiction offers a convenient home testing kit for customers to collect and send a DNA sample for analysis.

Earlier this year, Avalon extended its exclusive distribution agreement with Qi Diagnostics Limited to distribute the KetoAir, a breathalyzer device, and related accessories in key regions, including North America, South America, the United Kingdom, and the European Union.

Price Action: At the last check on Wednesday, ALBT stock was trading 3.33% higher at $0.26 during the premarket session.

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