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Sona Provides Update on Coronavirus Rapid Screening Test and Announces Scientific Advisors

DGAP-News: Sona Nanotech Inc. / Key word(s): Miscellaneous
06.03.2020 / 13:52
The issuer is solely responsible for the content of this announcement.

Halifax, Nova Scotia--(Newsfile Corp. - March 6, 2020) - Sona Nanotech Inc. (CSE: SONA) (OTC: LMTCF) ("Sona") is pleased to provide an update on its Covid-19 rapid screening test as well as announcing the addition of Fiona Marshall and Sandy Morrison as scientific advisors for the Covid-19 test development.

Fiona Marshall will assist the Sona team with scientific considerations of test development, manufacturing set-up, quality control and regulatory approval. Ms. Marshall is the current CEO of AgPlus Diagnostics Limited and has extensive experience in the lateral flow industry having been responsible for establishing a US based R&D and production facility for the development and manufacture of various lateral flow tests, including tests for class 3 deadly pathogens that served US military contracts. She also oversaw the development of a rapid-response test development program during the 2013 Ebola outbreak as well as other tests for influenza, narcotics and explosives.

Sandy Morrison is the President of Quality Systems Atlantic and has over 30 years of experience in the medical device industry, with leadership roles in manufacturing, quality systems and regulatory affairs. He was involved in obtaining regulatory approval of the first rapid assay for HIV approved by Health Canada and the US FDA. He will be assisting Sona in its ongoing submission for Emergency Use Authorization (EUA) with the FDA.

Darren Rowles, CEO of Sona Nanotech said, "We are very happy to welcome Fiona and Sandy and the invaluable input they will provide us in developing our Covid-19 rapid response test. We are also pleased to report that our initial laboratory work is progressing well and as a result of our collaboration with GE, we expect to accelerate an aggressive pace in the development of this critical test."

Fiona Marshall added, "I am quite familiar with, and happy to join the team Sona has built around the Covid-19 rapid response test. I look forward to working with industry-leading partners like The Native Antigen Company and General Electric Health Care Life Sciences, and in particular working with the highly-sensitive Sona nanoparticles to get this much-needed test to market as quickly as possible."

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

For More Information
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.

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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/53221

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News Source: Newsfile


06.03.2020 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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Language: English
Company: Sona Nanotech Inc.
Canada
ISIN: CA83541C1059
EQS News ID: 991507


 
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