TAMPA, FL / ACCESSWIRE / October 2, 2023 / EV Biologics Corp, (OTC Pink:YECO), today announced that it has closed a $500,000 interest-free loan from a related party.
This funding will provide for further development of exosome - and other nanoparticle-enriched biological products, as well as optimization of their scalable, cGMP-compatible, biomanufacturing process. The funds will be also used for comprehensive product analysis by several leading independent laboratories.
The Company has already begun sales of some of its regenerative products through its agents in Asia for pre-clinical use and testing and expects to start sales in South America by November this year. The Company filed an application for a trademark under the product name: EcoCura with the U.S. Trademark Office on September 22, 2023.
As reported in the August 7, 2023 press release, the Company is moving with audits and the filing with FINRA for the name and symbol change. Furthermore, our Director of Corporate Finance, William Bossung is heading up our efforts to re-apply to up-list to Nasdaq.
CEO, Daniel Mckinney, said "Our audacious goal is to revolutionize modern medicine by harvesting the healing power naturally produced by living cells to develop versatile therapeutics and enable safe and effective treatment of a wide range of clinical conditions for better health & longevity.
To minimize capital requirements, Excyte is developing essential product and process technologies in parallel with its primary therapeutic development pathway through collaboration with best-in-class commercial partners. 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.
About Excyte
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.
Forward-Looking Statements
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 10.22 million shares issued and outstanding with a float of 1,016,375 shares.
Contact:
Dennis Burns
Investor Relations
Tel (567)237-4132
SOURCE: EV Biologics Corporation
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