This news release constitutes a "designated news release" for the purposes of the Company's prospectus supplement dated April 9, 2021 to its short form base prospectus dated March 31, 2021
Halifax, Nova Scotia--(Newsfile Corp. - September 23, 2021) - Sona Nanotech Inc. (CSE: SONA), (OTCQB: SNANF) (the "Company" or "Sona"), a developer of rapid, point-of-care diagnostic tests and owner of proprietary biocompatible gold nanorod ("GNR") technology, is pleased to provide an update on its strategy and on the progress of its concussion and bovine tuberculosis rapid test development programs.
Sona leverages on its core GNR manufacturing technology, scientific experience, and laboratory asset to focus on two strategic priorities for its business: the development of rapid diagnostic tests and biologic reagents, and the advancement of its GNR intellectual property towards important medical in vivo applications.
For its GNR IP advancement strategic priority, Sona is undertaking an R&D program to enhance its understanding of its proprietary biocompatible, GNR manufacturing technology with the goal of identifying the most promising advanced biomedical applications for it to pursue. To accomplish this, Sona plans to partner with leaders in the bioengineering and nanotechnology fields to conduct a series of experiments and studies to better understand the effects of using its GNRs in medical therapies to gain insights into which would be best to pursue.
This is an important priority given that Sona's biocompatible GNRs address the primary concern in the development and adoption of medical therapies involving the use of GNRs within the body, or 'in vivo'. That concern is for the toxicity associated with the preparation of other GNRs, and potential negative health impacts. The manufacture of Sona's GNRs, meanwhile, uniquely does not involve the use of CTAB (cetrimonium bromide), a substance well-known to be toxic. Continuing to strengthen Sona's IP is a key element in its ambition for the leadership position for its GNRs for in vivo medical applications.
For its test and reagent development business, Sona will continue to develop proprietary rapid diagnostic tests and associated biologic reagents for the medical and other industries. The Company also intends to begin offering the same services to third parties. Providing this service is an important addition as it is highly complementary to the laboratory-based work for Sona's proprietary development business and is expected to be undertaken on a 'fee for service' basis, which has the potential to generate revenue in the near-term. The Company aims to use its network and reputation for quickly developing rapid diagnostic test prototypes and reagents to secure profitable business opportunities.
Sona's concussion test for mild traumatic brain injury ("mTBI") will aim to detect a series of biomarkers enabling the test to be used to screen for mild concussions. After a study of multiple alternatives, three such biomarkers that correlate with concussions have been selected to be used in the test. Sona's test is intended to work by first identifying the presence or absence of one key biomarker, that, if present, indicates the patient may be suffering from something more severe than a mild concussion. If this marker is absent, yet a second or third biomarker is present, this would indicate that the patient may be suffering from a mild concussion and further medical help should be sought. These biomarkers have been carefully selected and the corresponding antibody pairings and antigens have been acquired. The next phase of the project will take up to six months and include initial screening of the antibody pairings, performance assessment against various antigens and the creation of a multiplexed prototype device.
Sona's bovine tuberculosis ("bTB") test, which is being developed with a consortium of companies as part of a Canada/UK industrial research and development program, has been advanced with the identification of multiple biomarkers that can not only be used to detect the presence of bTB bacteria, but, as set, are able to differentiate whether the bacteria is present due to an ongoing infection or as a result of vaccination. The biomarkers that have been identified to be used in the assay have been synthesised into two different antigens which will be used to develop the polyclonal and monoclonal antibodies for use in a multiplex lateral flow assay. Our research has confirmed the presence of the biomarkers in both blood and milk and further assessment will be required to determine the final assay matrix, while antibody development is concurrently pursued over the next 4-6 months.
CEO, David Regan, commented: "Sona has made good progress across its portfolio of rapid tests and we are excited to begin exploring the potential of Sona's proprietary, biocompatible GNR manufacturing technology for biomedical applications. The experiments and studies to be conducted under this long-term R&D effort have the potential to open new, important medical markets for our innovative technology and add value to the business."
Investor Relations Contact: Arlen Hansen
1 604 684 6730 | 1 866 684 6730
arlen@kincommunications.com