Avalon, enters MOU with Qi Diagnostics

Avalon (ALBT) GloboCare announced that it entered into a memorandum of understanding, MOE,with Qi Diagnostics Limited), a nanosensor-based diagnostic technologies company, to explore a proposed strategic collaboration to co-develop a VOC (volatile organic compound) nanosensor-based point-of-care cannabis breathalyzer. The MOU provides Avalon with an exclusivity period of 120 days (the “Exclusivity Period”), during which Avalon intends to negotiate with Qi Diagnostics and enter into a definitive agreement regarding the proposed strategic collaboration.