EV Biologics Corp (OTCMKTS:YECO) Isolates Primary Cells for Production of Nanoparticles, Along with Sped Up Cell Line Development
EV Biologics Corp (OTCMKTS:YECO) has been actively involved in developing an improved process for isolation of progenitor cells from tissue. It has announced on April 12, 2022 that it has successfully isolated primary progenitor cells from tissue using a xeno-free process. The purpose is to generate cell banks for therapeutic nanoparticle production and further cell line development.
Market Stats
On Tuesday, YECO stock ended flat at $0.60 with 290 shares, compared to its average volume of 878 shares. The stock moved within a range of $0.6002 – 0.6002 after opening trading at $0.60.
The company is also creating an accelerated process for engineered nanoparticle-producer cell line development. This primary progenitor cell bank and future cell banks, generated with the optimized isolation process, will be the pool of precursor cells for further cell line development.
The Process Development of generating cell banks will continue with iterative optimization to enhance its standardization and compliance with Good Manufacturing Practice (GMP). As of now, the primary progenitor cell bank is to be used in Process Development for therapeutic nanoparticle production.
The company is assessing culture systems and conditions for therapeutic nanoparticle production to boost both quantitative and qualitative yield. Its goal is GMP-compliant production of its first iteration of nanoparticle therapeutics by the 2nd quarter of 2023.
CEO, Daniel Mckinney states that they remain committed to technological objectives of developing a new range of nanoparticle therapeutics to provide a longer and healthier lifespan, while focusing on attaining the fiduciary goal of building substantial shareholder value at the same time.
Key Quote
CEO, Daniel Mckinney, said “We are driven to achieve our fiduciary goal of building substantial shareholder value, while remaining focused on our technological objectives of developing a new range of nanoparticle therapeutics to provide a longer and healthier lifespan. We are on the cutting edge of this new science.”
Traders Corner
YECO stock is trading below the 20-Day and 50-Day Moving averages of $0.72 and $0.76 respectively. Moreover, the stock is trading below the 200-Day moving average of $2.11.
