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Sona, GE to complete coronavirus screening test
SONA.c
2020-03-03 15:01 ET - News Release
Mr. Darren Rowles reports
SONA PARTNERS WITH GE HEALTHCARE LIFE SCIENCES TO COMPLETE CORONAVIRUS RAPID SCREENING TEST
Sona Nanotech Inc. 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's 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 its studies as it works to get its 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's 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, chief executive officer 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."
Zenderflask wrote: There is a lot of money out there looking for this type of initiative. You can have a vaccine, but you need to be able to test and know where and to whom it needs to be focused at. BR11, you are 100% right...having a market leading partner with the ability to get this progressed and moved to market is a big deal. And not just that, the spotlight that this provides Sona with is attention that you just can't buy. Consider if 10% of the worlds population were to utilize a $50 rapid screen test in a 365 day window of time...nice revenue. This company would be bought out in a heart beat if it is successful going to market with this. bigreturn11 wrote: You can have the best technology or IP in the world, but without a licensing agremeent or partnership with a giant, many of the greatest ideas never have a chance. Shooting for another big jump tomorrow once the world clues in on the opportunity?
bigreturn11 wrote: This is a big deal with one of the largest, and most connected companies in the world. GE has the ability to fast track commercial development and has all the international sales connections that could be literally begging for this service. This arrangement has multi-billion $$ opportunity now and in the future if it is ready to go and accepted globally as a rapid test method. This won't be the last flu like this, expect mutation after mutation of this virus. Loads of opportunity.....
Imagine an airport, where travellers cannot wait four hours for the current test results. A 30 minute test could be applicable to every airport, hospital, public arena, school etc in the world
Zenderflask wrote: It would seem like a possibility to break a buck. There was over 3/4 of a million shares traded in the half hour from the release to market close and that's limited time for news to permeate the market.