Sona Announces Research Collaboration with University of Toronto's Institute of Biomedical Engineering
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. - November 18, 2021) - Sona Nanotech Inc. (CSE: SONA) (OTCQB: SNANF) (the "Company" or "Sona") is pleased to announce the launch of a new research program to explore the leading attributes of its unique, proprietary gold nanorod technology together with leading experts in the field of bioengineering.
The Company has entered a collaboration with Dr. Warren Chan, distinguished professor, and Canada Research Chair in Nanobioengineering & Director of the Institute of Biomedical Engineering at the University of Toronto. Under the terms of the memorandum of understanding executed with the University of Toronto, Dr. Chan will provide Sona with consultation on the design and execution of appropriate studies to determine the biocompatibility of its gold nanorod technology.
Sona's research collaborations will leverage the expertise and scientific leadership of a group of third-party, respected scientists and entrepreneurs to work with Sona's team, bringing together nanoparticle production technology with advanced physical chemistry techniques and biological studies.
This program will seek to substantiate the biocompatibility of Sona's proprietary, gold nanorod manufacturing processes and provide a foundation for further research programs, with a view to identifying the most promising potential medical applications for Sona's technology.
Dr. Warren Chan, Director of the Institute of Bioengineering at the University of Toronto, commented, "The biocompatibility of nanomaterials will be an important component to the unlocking of new, potentially life-saving, medical nanotechnology applications and so our study will explore Sona Nanotech's gold nanorods as a safe, non-toxic material for use 'in-vivo'."
Sona Nanotech president and Chief Scientific Officer, Darren Rowles commented, "We are delighted to be working with Dr. Chan, one of the most important nanotechnology scientists in the world, and we are excited to explore with him the unique attributes and benefits our technology may bring to enabling new, important biomedical applications."
Investor Relations Contact:
1 604 684 6730 | 1 866 684 6730
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'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 research program, participation in the research program by third-party scientists and entrepreneurs and the potential to identify medical applications for Sona's technology. 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 that Sona may not be successful in identifying biomedical applications for its technology with adequate market potential or at all. 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.
Not for distribution to United States newswire services or for dissemination in the United States.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/104178