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. - April 22, 2021) - Sona Nanotech Inc. (CSE: SONA) (OTCQB: SNANF) (the "Company" or "Sona") a developer of rapid, point-of-care diagnostic tests is pleased to announce that it has received research ethics board approval for its clinical trial of the Sona Saliva C-19 Rapid Test. The trial, which will seek to test up to 500 emergency room patients suspected of having COVID-19, is expected to commence next week. The Company will update the market with results from the trial upon completion.
As previously announced in the Company's news release dated April 12, 2021, the trial will occur in partnership with the Humber River Hospital in Toronto, with the objective to determine the clinical performance of the test when compared to RT-PCR, in symptomatic patients. After a successful completion of the study, third party analytical validation studies would be commissioned to generate the appropriate additional data to support any future regulatory submissions.
Clinical trial principal investigator, Dr. David Jacobs of Humber River Hospital, comments, "With the third wave now upon us, frequent rapid testing is crucial to identify COVID-19, limit spread, and decrease hospitalizations. This clinical trial is an important step in exploring the use of devices that are both more comfortable for the patient and safer for those administering the tests to ensure rapid and accurate diagnosis. Our primary concern will always be the proper care and treatment of our patients, and the safety of our front-line emergency room staff."
The Company is not making any express or implied claims that its product has the ability to eliminate, cure or contain the COVID-19 virus (or SARS-2 Coronavirus) at this time. Regulatory approvals for the product will be required before sales for clinical use may be permitted.
Investor Relations Contact:
Arlen Hansen
1 604 684 6730 | 1 866 684 6730
arlen@kincommunications.com
About Humber River Hospital
About Humber River Hospital Humber River Hospital (HRH) is North America's first digital hospital and the first hospital to implement a Command Centre with a focus on patient flow and patient safety. As one of Canada's largest acute care hospitals, HRH also operates one of the country's busiest emergency departments. Committed to compassionate, professional and respectful care Humber River Hospital serves a vibrant and culturally diverse community of more than 850,000 residents in the northwest Greater Toronto Area. HRH operates 722 acute inpatient beds with 3,400 staff, approximately 700 physicians, and over 1000 volunteers. The hospital has formal affiliations with medical schools at University of Toronto and Queen's University.
About Sona Nanotech Inc.
Sona Nanotech is a nanotechnology life sciences firm that has developed multiple proprietary methods for the manufacture of various types of gold nanoparticles. The principal business carried out and intended to be continued by Sona is the development and application of its proprietary technologies for use in multiplex diagnostic testing platforms that will improve performance over existing tests in the market. Sona Nanotech'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 Nanotech's gold nanotechnologies may be adapted for use in applications, as a safe and effective delivery system for multiple medical treatments, subject to the approval of various regulatory boards, including Health Canada and the FDA.
NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE CANADIAN SECURITIES EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This press release includes certain "forward-looking statements" under applicable Canadian securities legislation, including statements regarding Sona's development of a rapid antigen test for COVID-19 and plans to complete a clinical trial for this test. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements, including the risk of the failure of the Company to complete the clinical trial as proposed on a timely basis or at all, the failure of the Company to obtain confirmatory results in the clinical trial as compared to the Company's internal research and results to date, Sona may not be successful in obtaining additional data necessary for regulatory approvals, or in obtaining required approvals once additional data is available, that potential customers may not adopt its products, that Sona's saliva test technology may not prove to deliver the same level of testing accuracy and sensitivity as its nasopharyngeal swab-based test, that Sona may not re-submit to the FDA and Health Canada, and that regulatory requirements may change. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Sona disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
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