Nanotechnology Stock News: Sona (CSE: SONA) announces key partner for Coronavirus Rapid Screening Test
Halifax, Nova Scotia - February 13, 2020 (Newsfile Corp.) (Investorideas.com Newswire) Sona Nanotech Inc. (CSE: SONA) ("Sona") has secured an agreement with The Native Antigen Company ("Native") to supply biologics for the recently announced Covid-19 Coronavirus rapid screening test, currently in development by Sona (See Sona news release dated February 10, 2020).
Native is a leading supplier of native and recombinant antigens for emerging and endemic infectious diseases. Native is one of the first recognised suppliers to release biological materials for use in diagnostic tests specific to the Covid-19 strain of the coronavirus virus.
Antigens specific to this strain of Coronavirus have been produced at Native's Oxford facility using their proprietary mammalian, VirtuE expression system. This system can introduce protein folding and post-translational modifications to recombinant proteins, which are essential for full biological and antigenic activity. Covid-19 was recently announced as the official name of the current strain of the Coronavirus by WHO Chief Tedros Adhanom Ghebreyesus. This strain differs from existing coronavirus strains such as SARS or MERS, due to the spike, membrane and envelope proteins present on the surface of the virus. Consequently, current commercial sources of biological materials associated with SARS and MERS would not be ideal for use in a diagnostic or screening test. They would not be specific to Covid-19, and would therefore result in poor overall test performance, and a high likelihood of mis-diagnosed patients.
Darren Rowles, CEO of Sona Nanotech said, "Rapid screening tests are commonly used in the field as a front-line triage test. This is often the best way to determine which individuals require more medical attention, and which show no sign of infection and therefore may not require immediate medical care and quarantine, thus allowing the medical community to focus their resources as efficiently as possible. Rapid screening tests make the most impact when they are as accurate as possible. The Sona test will use our best-in-class nanoparticle technology alongside Native's best-in-class biologics to produce a highly effective rapid screening test for the Covid-19 virus."
Andrew Lane, Commercial Director, Native Antigen Company said that "Native has long been a global leader in the development of biologics for rapid screening tests. We are pleased to partner with a lateral flow test development company like Sona whose gold nanoparticles offer leading functionality so together we can respond quickly to a global health emergency like the Covid-19 virus, with a best-in-class quick response screening device."
When complete, the Sona Covid-19 rapid screening test could be ideal for use in a variety of scenarios, such as:
- An in-home test and monitoring
- To identify if patients require further testing or treatment in a clinical setting
- To verify if patients are ready for release from quarantine
- To screen individuals prior to entering closed public venues such as cruise ships and airplanes
For More Information
For more information about Sona, please contact:
President and Chief Executive Officer
Telephone: (902) 442-0653
Email: Darren Rowles, firstname.lastname@example.org
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.
About The Native Antigen Company
The Native Antigen Company based in Oxford, UK, is a leading supplier of native and recombinant viral and bacterial antigens, antibodies and immunoassays, alongside bespoke custom and contract services. Their infectious disease reagents are widely adopted by pharmaceutical, in-vitro diagnostics and vaccine manufacturers, as well as leading edge academic groups focusing on cutting edge research. They pride themselves on being an ethical and sustainable organisation and endeavour to build long-term partnerships with their customers.
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.
There are several important factors that could cause the Company's actual results to differ materially from those indicated or implied by forward-looking statements and information. Such factors include, among others, risks related to Sona's proposed business, such as failure of the business strategy and government regulation; risks related to Sona's operations, such as additional financing requirements and access to capital, reliance on key and qualified personnel, insurance, competition, intellectual property and reliable supply chains; risks related to Sona and its business generally, such as infringement of intellectual property rights and conflicts of interest. The Company cautions that the foregoing list of material factors is not exhaustive. When relying on the Company's forward-looking statements and information to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. The Company has assumed a certain progression, which may not be realized. It has also assumed that the material factors referred to in the previous paragraph will not cause such forward-looking statements and information to differ materially from actual results or events. However, the list of these factors is not exhaustive and is subject to change and there can be no assurance that such assumptions will reflect the actual outcome of such items or factors. While the Company may elect to, it does not undertake to update this information at any time.
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