TAMPA, FL / ACCESSWIRE / August 15, 2022 / EV Biologics Corp, OTC Pink: YECO, today announced that it has launched Excyte, Inc., a wholly owned subsidiary, with $100 Million valuation.
Excyte has already raised $500,000 of its $2.5 million initial capitalization goal. This funding will initially provide scale-down biomanufacturing process development and important bioanalytical data to advance EV Biologics’ ongoing nanotherapeutic development.
Funds allocated to comparative evaluation of small-scale automated bioreactor platforms will enable development of scalable biomanufacturing of stem cell-derived nanotherapeutics. The remainder of these funds will be allocated to analysis of the biomolecular composition and the biological activity of the composite secretome products and constituent vesicular and non-vesicular nanoparticle fractions produced by mesenchymal stem/stromal cell (MSC) banks already isolated and expanded by EV Biologics.
Excyte is founded on the idea that potent biotherapeutics and a deeper understanding of health, disease and aging can be obtained from living cells. Our mission is to further the understanding of the complex interactions between the multiplex of functional biomolecules that comprise cell-derived nanotherapeutics and the interconnected cellular pathways of biological systems in disease and aging. The Company will be focused on innovation in biomanufacturing, bioengineering, bioanalytics and machine learning toward a versatile platform for on-demand precision nanotherapeutic development for any clinical indication.
CEO, Daniel Mckinney, said “Our audacious goal is to unravel the complex mechanisms of stem cell therapy and apply this understanding to recreate defined regenerative therapeutics. Our innovative approach to longevity will use a multi-functional nanotherapeutic platform to deliver the right bioactive molecules to diseased, damaged, or aging cells to restore health, combat aging and provide a longer health span. Simply put, our goal is the ‘Fountain of Youth'”.
Excyte joins a narrow field of notable biotechnology ventures focused on longevity and extending the human health span, such as Altos Labs (https://www.economist.com/science-and-technology/a-3bn-bet-on-finding-the-fountain-of-youth/21807244) and Retro Biosciences (https://www.biospace.com/article/retro-biosciences-launches-with-180-million-to-increase-healthy-human-lifespan-by-10-years-/?s=89).
Excyte will take a very pragmatic approach to innovation in the longevity space with accelerated development of products and technologies that can be further commercialized in parallel with its primary development pathway. The Company will use virtual infrastructure and collaboration with best-in-class commercial partners to execute its biotechnology innovations and minimize capital requirements and operating costs. Intellectual property, patents, proprietary process and product development will be held by Excyte in support of EV Biologics.
About EV Biologics
EV Biologics (formerly Yulong Eco-Materials Limited) is a Wyoming, USA domiciled Biotechnology Company, developing a range of nanotherapeutics to substantially enhance the intrinsic bioactivity of stem and progenitor cell-derived nanoparticles. The Company is also developing biomanufacturing, bioinformatic and bioengineering innovations to optimize production of nanoparticle therapeutics and biologics. These versatile therapeutic platforms will enable generation of nanotherapeutics targeting a broad range of regenerative medicine and longevity applications.
Excyte, a wholly owned subsidiary of EV Biologics, Inc., is founded on the idea that potent biotherapeutics and a deeper understanding of health, disease and aging can be obtained from living cells. Our mission is to further the understanding of the complex interactions between the multiplex of functional biomolecules that comprise cell-derived nanotherapeutics and the interconnected cellular pathways of biological systems in disease and aging. The Company is focused on innovation in biomanufacturing, bioengineering, bioanalytics and machine learning in support of a versatile platform for on-demand precision nanotherapeutic development for any clinical indication. Our innovative approach to longevity will use a multi-functional nanotherapeutic platform to deliver the right bioactive molecules to diseased, damaged or aging cells to restore health, combat aging and provide a longer health span.
This news 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.
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SOURCE: EV Biologics Corporation