Avant Technologies and Austrianova Sign Joint Venture, Licensing Agreement to Advance Klotho-Based Therapies
Rhea-AI Summary
Avant Technologies (OTCQB: AVAI) and Austrianova have formed a joint venture called Klothonova, Inc. to develop cell-based therapies using encapsulated Klotho-producing cells. The 50/50 partnership combines Austrianova's proprietary cell-encapsulation technology and expertise with Avant's capital and resources.
The venture aims to develop treatments for Alzheimer's disease, heart disease, cancer, kidney disease, and age-related conditions. Austrianova brings significant expertise backed by over 50 peer-reviewed publications and global partnerships, while focusing on the therapeutic properties of Klotho, an 'anti-aging' protein discovered in 1997 that plays a crucial role in modulating aging and various physiological functions.
Positive
- Formation of a strategic 50/50 joint venture with an established biotech leader
- Access to Austrianova's proprietary cell-encapsulation technology and extensive research portfolio
- Exclusive license to develop treatments for multiple major diseases and conditions
- Targeting large market opportunities in Alzheimer's, cancer, heart disease, and anti-aging therapies
Negative
- Early-stage venture with no immediate revenue generation potential
- Development and commercialization timeline uncertainties
- Significant capital requirements for multiple treatment programs
- Regulatory approval risks for novel cell-based therapies
News Market Reaction
On the day this news was published, AVAI gained 4.17%, reflecting a moderate positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
Under the terms of the agreement, Klothonova will leverage Austrianova's proprietary cellencapsulation technology to develop and commercialize treatments targeting Alzheimer's disease, heart disease, cancer, kidney disease, other age-related conditions, and longevity promotion. Austrianova, renowned for its expertise in cell biology, GMP-grade cell products, and encapsulation technologies - backed by over 50 peer-reviewed publications and partnerships with global pharmaceutical and biotech companies - will contribute its intellectual property and 'know-how' to the venture. Avant will provide capital, along with additional resources, to support Klothonova's formation and operations.
Klothonova will operate as a 50/50 joint venture, with ownership equally split between Avant and Austrianova. The company will be focusing on developing innovative treatments through the over expression of the Klotho protein, encapsulated using Austrianova's cutting-edge technology. This exclusive license will enable Klothonova to address critical medical needs and explore longevity-enhancing solutions across global markets.
"We are thrilled to partner with Austrianova, whose world-class expertise in cell encapsulation and GMP manufacturing complements our vision for advancing transformative healthcare solutions," said Chris Winter, Chief Executive Officer (CEO) at Avant Technologies.
"Klothonova represents a significant step toward addressing some of the most pressing medical challenges of our time."
Austrianova's CEO, Brian Salmons, added, "This joint venture with Avant Technologies allows us to combine our proprietary technologies with Avant's resources to accelerate the development of Klotho-based therapies. We are excited about the potential to improve patient outcomes and promote healthier, longer lives."
Klotho is regarded as an 'anti-aging' protein, known for its crucial role in modulating aging and supporting diverse physiological functions. Discovered in 1997, it is primarily produced in the kidneys and brain and has been linked to improved cognitive function, cardiovascular health, and kidney function, while also showing potential in combating age-related diseases such as Alzheimer's, cancer, and heart disease. By leveraging Klotho's therapeutic properties through advanced cell encapsulation technology, Klothonova is poised to become a leader in the biotech industry, with a mission to develop and commercialize innovative treatments that enhance quality of life and promote longevity
Klothonova will prioritize the development of treatments for major indications, with each program independently managed to ensure focused progress. This strategic collaboration positions Klothonova to lead in the rapidly evolving field of cell-based therapeutics.
About Avant Technologies Inc.
Avant Technologies Inc. is an emerging
About Austrianova (SGAustria Pte. Ltd.)
Austrianova, based in
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Forward-Looking Statements
Certain statements contained in this press release may constitute "forward-looking statements." Forward-looking statements provide current expectations of future events based on certain assumptions and include any statement that does not directly relate to any historical or current fact. Actual results may differ materially from those indicated by such forward-looking statements because of various important factors as disclosed in our filings with the Securities and Exchange Commission located at their website (http://www.sec.gov). In addition to these factors, actual future performance, outcomes, and results may differ materially because of more general factors including (without limitation) general industry and market conditions and growth rates, economic conditions, governmental and public policy changes, the Company's ability to raise capital on acceptable terms, if at all, the Company's successful development of its products and the integration into its existing products and the commercial acceptance of the Company's products. The forward-looking statements included in this press release represent the Company's views as of the date of this press release and these views could change. However, while the Company may elect to update these forward-looking statements at some point in the future, the
Company specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing the Company's views as of any date after the date of the press release.
Contact:
Avant Technologies Inc.
info@avanttechnologies.com
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SOURCE Avant Technologies Inc.
FAQ
What is the new joint venture between Avant Technologies (OTCQB: AVAI) and Austrianova?
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