Sona Nanotech Inc.
Sona Achieves Significant Milestone in Covid-19 Test Development
DGAP-News: Sona Nanotech Inc.
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Halifax, Nova Scotia–(Newsfile Corp. – March 18, 2020) – Sona Nanotech Inc. (CSE: SONA) (OTC Pink: LMTCF) (“Sona”) is pleased to provide an update on the development of its rapid-response Covid-19 test. Sona is leading a consortium of diagnostic test developers including GE Healthcare Life Sciences, to create a rapid-response, lateral flow test that will directly identify the Covid-19 virus and provide in-field test results in minutes, without the use of specialized laboratory equipment or technicians. Sona is pleased to report its consortium has achieved a significant milestone in its test development programme by generating an active conjugate which produces a signal when exposed to Covid-19 viral antigens. With the achievement of the positive identification of the viral antigens, the consortium has now commenced development of a functional prototype of the rapid-response test. Sona expects its Covid-19 test to benefit from reduced regulatory and field-testing requirements as announced by several regulatory agencies including in the United States’ FDA. Sona’s Covid-19 test will offer a unique advantage over other lateral flow tests as it detects the presence of the Covid-19 virus. To date, the only competitive lateral flow tests that have been announced for sale are serological assay tests, which are designed to identify IgM and IgG antibodies present post infection. Serological tests are susceptible to producing false positive and false negative results if a patient is suffering from any one of a variety of unrelated infections (I.e. ear or tooth infection, regular flu, etc.). Sona’s test is being developed to indicate a positive result only when the Covid-19 virus is present, allowing for direct and clear interpretation. (For more information on the unique advantages of Sona Covid-19 test over serological tests, see our previous new release dated March 12, 2020) Sona has been approached by and is currently in discussions with health departments of several countries regarding the provision of rapid-response test kits. Simultaneously the company is advancing discussions with manufacturers in several countries in order to facilitate production protocols reflective of their country’s regulatory compliance regime, many of which have been reduced. Some countries are expected to allow manufacturers to move immediately from prototype to sale. Sona will provide further updates on its rapid-response Covid-19 test as warranted. Sona’s Covid-19 rapid-response test development consortium include GE Healthcare Life Sciences, The Native Antigen Company, Bond Digital Health and scientific advisors Fiona Marshall and Sandy Morrison. For More Information About Sona Nanotech Inc. Sona Nanotech Inc. is a nanotechnology life sciences firm that has developed two proprietary methods for the manufacture of rod-shaped gold nanoparticles. The principal business carried out and intended to be continued by Sona is the development and application of its proprietary technology for use in multiplex diagnostic testing platforms that will improve performance over existing tests in the market. Sona’s gold nanorod particles are CTAB (cetyltrimethylammonium) free, eliminating the toxicity risks associated with the use of other gold nanorod technologies in medical applications. It is expected that Sona’s gold nanotechnologies may be adapted for use in applications, as a safe and effective delivery system for multiple medical treatments, pending the approval of various regulatory boards including Health Canada and the FDA. Sona is a publicly listed company on the Canadian Securities Exchange existing under the laws of Nova Scotia, with its operations in Nova Scotia. FORWARD-LOOKING INFORMATION This press release contains forward-looking statements and information that are based on the beliefs of management and reflect the Company’s current expectations. When used in this press release, the words “estimate”, “project”, “belief”, “anticipate”, “intend”, “expect”, “plan”, “predict”, “may” or “should” and the negative of these words or such variations thereon or comparable terminology are intended to identify forward-looking statements and information. This corporate update reflects management’s outlook on current business plans and is based on management’s best information, plans and market factors at the time of writing. No assurances can be provided to the reader that any forward-looking statements will be realized. The reader is cautioned to consider risk factors such as competition, continued spread of the Covid-19 virus and factors such as cures, vaccines, treatments or if the Covid-19 virus will continue to present as a health threat. To view the source version of this press release, please visit https://www.newsfilecorp.com/release/53585 Click on, or paste the following link into your web browser,to view the associated documents http://www.newsfilecorp.com/release/53585News Source: Newsfile
18.03.2020 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG. |
Language: | English |
Company: | Sona Nanotech Inc. |
Canada | |
ISIN: | CA83541C1059 |
EQS News ID: | 1001319 |
End of News | DGAP News Service |