Avalon GloboCare Corp (NASDAQ:ALBT) announced that it has signed an agreement with Qi Diagnostics Limited for exclusive distribution rights to market Qi’s KetoAir breathalyzer device and related accessories, including current and future models, in North America, South America, the UK, and the European Union.
The developer of innovative cell-based technology, cellular therapy and precision diagnostics said the commercialization-ready KetoAir functions as companion diagnostic and monitoring device for ketogenic dietary management and will initially target the diabetes reversal and weight management markets.
“KetoAir is the first breathalyzer on the market that uses an artificial intelligence (AI) nutritionist bundled with the nanosensor-based breathalyzer for ketogenic health management,” Avalon GloboCare CEO David Jin said in a statement.
“It can detect and quantify acetone levels in the breath and monitor the ketosis state, while also providing 24/7 nutritional advice,” Jin added.
Avalon noted that KetoAir has been approved by the United States Food and Drug Administration (FDA).
As well, the company stated that it intends to collaborate with Qi-Diagnostics to co-develop a breathalyzer device for potential screening and early detection of lung cancer and will have joint ownership of any and all intellectual property arising from or generated in the co-development of a lung cancer breathalyzer product(s).
Avalon GloboCare added that the parties intend to enter into a definitive agreement regarding the final terms and pricing but there can be no assurance that such agreement will be entered into on terms acceptable to Avalon or at all.
Avalon GloboCare develops innovative, transformative cellular therapeutics, precision diagnostics, and clinical laboratory services.
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