Avalon globocare and qi diagnostics enter into memorandum of understanding for proposed co-development of real-time cannabis breathalyzer for detecting potential impaired driving

Freehold, n.j., oct. 25, 2024 (globe newswire) -- avalon globocare corp. (“avalon” or the “company”) (nasdaq: albt), a developer of innovative precision diagnostics and laboratory services, today announced that it entered into a memorandum of understanding (the “mou”) with qi diagnostics limited (“qi diagnostics”), 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.
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