CHEYENNE, WY / ACCESSWIRE / September 14, 2020 / Yulong Eco-Materials Limited (OTC PINK:YECO) today announced that it will focus its energies into building an incubator laboratory in Nashville,TN for the development of cell and extracellular vesicle (EV) based therapeutics.
Dr. Jason Sanders recently relocated to Nashville and the Company is now negotiating lab space near the Vanderbilt University area. EV Biologics will develop a new biotechnology laboratory to advance its state-of-the-art cell culture, EV isolation and nano-scale bioanalytical methods. Laboratory innovation will focus on enhancement of the natural biological properties of MSCs as well as the purification and standardization of the EVs they produce. This R&D incubator lab will provide the framework for novel biopharmaceutical development to treat life-threatening clinical conditions and will be the site for initial production of our first EV drugs.
CMO Dr. Jason Sanders said: 'The reality is that our technology is far superior to anything currently on the market. We will be far better off focusing on the development of our own innovative products in our lab. We will do so through the optimization of EVs produced by a series of natural and bioengineered cell lines designed to enhance the remarkable intrinsic biological properties of mesenchymal stem cells (MSCs) and other progenitor cells.'
Disease-specific EVs produced by these types of optimized cell lines will be developed into biological drugs seeking FDA approval for several different clinical indications: acute lung injury (eg. COVID-19, influenza, acute respiratory distress syndrome), autoimmune (lupus, multiple sclerosis, rheumatoid arthritis, etc) and systemic inflammatory syndromes, osteoarthritis and other degenerative musculoskeletal disease, neurodegenerative conditions, metabolic diseases and other age-related conditions.
CEO Daniel Mckinney, said 'we have selected Nashville as our lab site for numerous reasons, one being the excellent EV science being fostered at Vanderbilt. There we will focus on our R&D program for biopharmaceuticals along with preparations for submission of the corresponding Investigational New Drug applications ‘INDs' to the FDA.'
The Company is implementing an innovative funding platform that will not require the issuance of any shares, thus minimizing dilution of existing shareholders. This new financing model is now being finalized and will be announced soon. This model will add tremendous equity and value to the Company'.
The Company applied on September 11th for a USPTO Trademark and is currently in the process of changing the name of the Company to EV Biologics 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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