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Nanotech Stock News: Sona Nanotech Inc. (CSE: SONA) Partners with GE Healthcare Life Sciences to Complete #Coronavirus Rapid Screening Test

 

Halifax, Nova Scotia - March 3, 2020 (Newsfile Corp.) (Investorideas.com Newswire) Sona Nanotech Inc. (CSE: SONA) ("Sona") and GE Healthcare Life Sciences will jointly complete test development of the Sona Covid-19 Coronavirus rapid response lateral flow test, and will use GE Healthcare Life Sciences' Fast Flow High Performance Membrane (FFHP) in production of the test. Sona will retain all commercial rights to the resulting test.

The companies will work in parallel to complete the test prior to field testing. GE Healthcare Life Sciences will support Sona through their studies as they work to get their rapid-response Covid-19 lateral flow test introduced into markets as quickly as possible.

The Sona Covid-19 lateral flow test will utilize GE Healthcare Life Sciences' FFHP Membrane, which is specifically designed to allow for multiple optimization techniques (potentially allowing the test to become market ready sooner) and fast flow performance (potentially allowing for faster individual test results).

Darren Rowles, CEO of Sona Nanotech, said, "It is exciting to work with a best-in-class partner like GE Healthcare Life Sciences, drawing on their expertise and to use the new FFHP Membrane. With their help, we will be able to accelerate our work and hopefully bring this critical test to the market quicker."

Klaus Hochleitner, Global Lead, Technology Product Specialist GE Healthcare Life Sciences, said, "This collaboration all started when Darren and I connected following my social media post offering to collaborate on a Covid-19 diagnostic. This ties in to our daily mission of advancing and accelerating therapeutics, by supporting the global scientific community working tirelessly to address the Covid-19 outbreak."

Sona expects to provide near-term updates on the development of its rapid-response Covid-19 test.

For more information about Sona, please contact:

Darren Rowles
President and Chief Executive Officer
Telephone: (902) 442-0653
Email: Darren Rowles, darren@sonanano.com

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 GE Healthcare Life Science

GE Healthcare Life Sciences helps therapy innovators, researchers and healthcare providers accelerate how precision diagnostics and therapies are invented, made and used. Our products enable biological analysis, research, development and the manufacture of advanced therapies and vaccines. Life Sciences is part of the $19.9 billion healthcare business of GE (NYSE: GE). With over 100 years of experience in the healthcare industry and more than 50,000 employees globally, GE Healthcare helps efficiently improve outcomes for patients, healthcare providers, researchers, and life sciences companies around the world. Visit our website https://www.gelifesciences.com/about-us for more information.

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.

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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