Halifax, Nova Scotia--(Newsfile Corp. - October 12, 2021) - Sixth Wave Innovations Inc. (CSE: SIXW) (OTCQB: SIXWF) (FSE: AHUH) ("Sixth Wave", "SIXW" or the "Company") is pleased to provide an update on the patent of newly developed Molecularly Imprinted Polymer ("MIP") intellectual property resulting from its collaboration with York University.
As cited by Grandview Research, the global COVID-19 diagnostics market size was estimated at USD 84.4 billion in 2020 is expected to expand at a compound annual growth rate (CAGR) of 3.1% from 2021 to 2027. The market is driven by rising government mandates for the implementation of mass testing. COVID-19 diagnostic products for COVID-19 will grow exponentially due to the easing of lockdowns across the globe.
Moreover, accurate and inexpensive testing devices that Sixth Wave is developing will enable a broad swath of governmental, health care, manufacturing, educational, and travel industries to resume normal operations that are desperately needed to meet global service and supply chain demands.
The company filed U.S. Patent Application No. 63/249,369 with the U.S. Patent and Trademark Office (USPTO) on September 28, 2021. The patent application Title: MOLECULARLY IMPRINTED POLYMER COATINGS AND SENSORS FOR BIODETECTION, covers the intellectual property generated in collaboration with York University and focuses on the synthesis and processing of MIPs containing detection elements for viruses and bacteria. The patent will be solely in the name of Sixth Wave, who will have exclusive ownership of the IP, subject to a reasonably agreed-upon license fee.
The work with York University is an expansion of Sixth Wave's efforts with the AMIP product line and focuses on detecting both viral and bacterial-based pathogens in fluid samples. The work is a prelude to integration with detectors into microfluidic devices and "lab-on-a-chip designs" to handle screening of multiple pathogens with a single test.
The Company continues to progress through R&D milestones toward the development of a wide range of AMIPs Virus/Bacteria rapid detection devices. Prospective products will include SIXW's Smart Mask™ (see SIXW Press Release dated May 15, 2020), in addition to smart clothing, PPE applications, airborne sensors, breathalyzers, ELISA-based technologies, cartridge/lateral flow designs, and others.
As previously reported, SIXW previously filed two patents regarding the AMIPs™ technology and its application to specific products that can utilize AMIPs™. The Company does not make any express or implied claims that its current AMIPs™ product has the ability to eliminate, cure, contain, or detect, at a commercial level, COVID-19 (or SARS-2 coronavirus) at this time.
For more information on the AMIPs™ and associated molecular imprinting technology, please visit: https://www.amips.com
About Sixth Wave
Sixth Wave is a nanotechnology company with patented technologies that focus on extraction and detection of target substances at the molecular level using highly specialized Molecularly Imprinted Polymers (MIPs). The Company is in the process of a commercial rollout of its Affinity™ cannabinoid purification system and IXOS®, a line of extraction polymers for the gold mining industry. The Company is in the development stages of a rapid diagnostic test for viruses under the Accelerated MIPs (AMIPs™) label.
Sixth Wave can design, develop, and commercialize MIP solutions across a broad spectrum of industries. The Company is focused on nanotechnology architectures that are highly relevant for the detection and separation of viruses, biogenic amines, and other pathogens, for which the Company has products at various stages of development.
For more information about Sixth Wave, please visit our website at: www.sixthwave.com
ON BEHALF OF THE BOARD OF DIRECTORS
"Jonathan Gluckman"
Jonathan Gluckman, Ph.D., President & CEO
For information, please contact the Company:
Phone: (801) 582-0559
E-mail: info@sixthwave.com
Cautionary Notes
This press release includes certain statements that may be deemed "forward-looking statements" including statements regarding the planned use of proceeds and performance of the AMIPs™ technologies. All statements in this release, other than statements of historical facts, that address future events or developments that the Company expects, are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual events or developments may differ materially from those in forward-looking statements. Such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause the Company's actual performance and financial results in future periods to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. In particular, successful development and commercialization of the AMIPs™ technology are subject to the risk that the AMIPs™ technology may not prove to be successful in detecting virus targets effectively or at all, the uncertainty of medical product development, the uncertainty of timing or availability of required regulatory approvals, lack of track record of developing products for medical applications and the need for additional capital to carry out product development activities. The value of any products ultimately developed could be negatively impacted if the patent is not granted. The Company has not yet completed the development of a prototype for the product that is subject of its patent application and has not yet applied for regulatory approval for the use of this product from any regulatory agency.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/99208
