Sona Nanotech Inc. announces collaboration with Soma BioScience to produce new diagnostic tests
Sona Nanotech Inc. Gemini Nanorods to be assessed for increasing performance of marketed lateral flow tests and development of new-to-market lateral flow tests.
Halifax, Nova Scotia, October 17, 2018 –Sona Nanotech Inc. (CSE:SONA)today announced a collaboration with Soma BioScience (Soma) to produce new diagnostic tests.
Under the terms of the agreement Sona Nanotech Inc. (Sona) and Soma will work collaboratively in two projects, one to improve performance in a test in Soma’s current product range and one to improve performance in a new test Soma plans to bring to market.
Sona Nanotech CEO Darren Rowles said: “This agreement is the second this month that expands Sona’s reach in the lateral flow market. Soma sells its products into global territories including Malaysia, Australia, UK and Europe. Integrating Sona’s gold nanorods with Soma’s unique lateral flow platform in existing products offered in the market and their new product pipeline opens up a new market segment (elite sports) for Sona and I’m excited to build on its potential with a trusted partner in Soma.”
Soma BioScience is a UK-based life sciences company that specialises in real-time, saliva-based analytics using lateral flow technology, for professional athletes, sports clubs and associations. Soma operates globally, with distribution in the UK, Belgium, Italy, Malaysia and Australia. It has partnerships with sporting performance bodies across the world, including football performance expert Dr Ryland Morgans and his team at Elite Football Performance, former professional boxer and Olympic medallist Tony Jefferies of Box N Burn and the Japanese Institute of Sports Sciences. It sells a range of products including tests that measure multiple stress biomarkers, cortisol and antibody levels in individuals to assist with athlete training and recovery regimes.
Soma Biosciences MD Joe Dunbar said: “We have been impressed by Sona’s gold nanorods, and our initial assessment is that they will improve the quality and performance of our tests. We are already well established in the sports science sector, but this collaboration has the potential to open up new markets for us and lead to new products and services for both companies in the near future.”
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 Soma Bioscience Ltd.
Soma Bioscience specialises in lateral flow technology for point of care solutions. Based in Oxfordshire, England, the company also offers contract development, contract manufacturing and laboratory testing of samples.
For More Information
For more information about Sona, please contact:
President and Chief Executive Officer
Telephone: (902) 442-7192
Email: Darren Rowles firstname.lastname@example.orgFORWARD LOOKING INFORMATION
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