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Ai Technology Group and AVM Biotechnology Provide Merger and Operational Update
Globenewswire· 2026-01-12 14:08
Core Viewpoint - The proposed merger between Ai Technology Group Inc. and AVM Biotechnology Inc. is progressing, with funding timelines being extended to facilitate corporate growth and financial audits in 2026 [2] Group 1: Merger and Funding - The Company is funding the proposed merger with AVM on an exclusive basis and is extending funding dates to accommodate the merger and financial audit timelines [2] - The planned merger is expected to enhance the corporate growth of the combined entities [2] Group 2: Clinical Trials and Drug Development - AVM has resumed its FDA Phase 2 Clinical Trial for relapsed and refractory Non-Hodgkins Lymphoma, known as the OPAL Trial, for its drug AVM0703, with plans to enroll an additional 7-10 patients [3] - AVM0703 has been administered in cycles of 3-4 weeks for up to 9 repeat infusions without cumulative safety concerns, with promising survival data accumulating from 30 subjects over almost four years [3] - AVM also runs an FDA Expanded Access Program for various solid tumors and blood cancers, with over 19 repeat infusions administered and follow-up extending beyond 5 years [4] Group 3: Funding and Grants - More than 92 patients have received over 297 total infusions of AVM0703 without safety concerns, yielding exciting outcomes [5] - AVM has secured an additional US$2 million NCI SBIR grant, bringing total government grant funding to US$6.4 million [5]
AI Technology Group Signs Definitive Agreement to Acquire AVM Biotechnology
Globenewswire· 2025-10-10 22:40
Core Viewpoint - AI Technology Group Inc. has announced an agreement to acquire AVM Biotechnology Inc., which will result in AVM becoming a wholly owned subsidiary, pending customary closing conditions [1] Company Overview - AI Technology Group is a Nevada corporation that will be subject to ongoing SEC reporting requirements upon the effectiveness of its Form 10 [6] Acquisition Details - The acquisition involves a newly formed subsidiary of AI Technology Group merging with AVM Biotechnology, with plans to change the corporate name and ticker symbol post-closing [1] AVM Biotechnology Overview - AVM Biotechnology is commercializing AVM0703, a small-molecule drug designed to treat various cancers through a one-hour outpatient infusion that reactivates the body's immune system [2] - AVM0703 is currently in Phase 2 human trials for relapsed/refractory non-Hodgkin lymphoma and has applications for autoimmune diseases and infectious diseases [2][3] Clinical Development - A total of 90 patients have been treated in the Phase 1b/2 clinical trial, with no cumulative toxicity observed across multiple infusions [3] - The drug has shown no safety signals in 90 subjects treated, even with repeat dosing up to 19 cycles [2][3] Leadership and Expertise - AVM is led by Dr. Theresa Deisher, an expert in stem-cell and immunology with over 30 years of experience in drug development and a significant patent portfolio [4] Financing - AI Technology Group is conducting a private financing round aiming to raise at least $14 million at a price of $2.50 per share to support AVM's clinical development [5]