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Sona Nanotech Elects New Board Chair and is Awarded Patent

May 18, 2023 8:41 AM EDT | Source: Sona Nanotech Inc.

Halifax, Nova Scotia--(Newsfile Corp. - May 18, 2023) - Sona Nanotech Inc. (CSE: SONA) (OTCQB: SNANF) (the "Company" or "Sona"), a nanotechnology company developing pre-clinical Targeted Hyperthermia Therapy for colorectal cancer, is pleased to announce the election as chair of the board, Mr. Mark Lievonen, CM, who joined the board of Sona in December 2020. Mr. Lievonen served as president of Sanofi Pasteur Limited from 1999 to 2016, during which time it became a billion-dollar enterprise in Canada, manufacturing over 50 million doses of vaccines for both domestic and international markets. A corporate director and principal of JML Advisory Services, Mr. Lievonen also co-chairs Canada's COVID-19 Vaccine Task Force.

Mr. Lievonen also serves on a number of public companies and not-for-profit boards, and as an advisor to other businesses and institutions. Mr. Lievonen succeeds Mr. Jim Megann, principal of Numus Financial, who will continue to serve as a director of Sona.

"I am pleased to take on this role at Sona as the Company moves towards pre-clinical studies for its important Targeted Hyperthermia Therapy, focusing first on colorectal cancer. I'm energized by Sona's work generating and assembling the pre-clinical study data necessary to secure support from regulators for clinical trials and I look forward to fully contributing towards this goal."

Also, as contemplated in the Company's March 2023 acquisition of Siva Therapeutics, Inc., Leonard Pagliaro, PhD, has been appointed to Sona's board of directors. Dr. Pagliaro has held senior R&D, business development, and management positions for companies including Eurofins and ThermoFisher Scientific following his academic career at the University of Washington and Carnegie Mellon University, and he holds a PhD in cell biology and biochemistry from Wesleyan University.

"We are fortunate to have someone with the life sciences credentials and commercial accomplishments of Mark to step into the role of chair as Sona progresses its development of an important advanced medical therapy. We continue to build a winning team with the skillsets necessary to guide this development, including the recent engagement of a senior medical device product development consultant with significant experience taking such products from inception all the way to commercialization. We are also pleased to benefit from the continued acumen of Jim Megann who has ably served as chair since 2019. On behalf of Sona, thank you to both Mark and Jim for their continuing contributions and welcome to Len Pagliaro, PhD.," Sona's CEO, David Regan, commented.

The Company is also pleased to announce a first territorial patent grant for its proprietary, toxin-free gold nanorod manufacturing process with a registration in South Korea. Patent applications for other major markets are pending.

David Regan, CEO

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 cetyltrimethylammonium ("CTAB") 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.

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This press release includes certain "forward-looking statements" under applicable Canadian securities legislation, including statements the prospects for the granting of patents and the successful development of advanced medical therapies. Forward-looking statements are necessarily based upon a number of assumptions or estimates 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 able to successfully secure animal pre-clinical and human clinical studies, obtain sufficient clinical and other data to submit regulatory submissions, raise sufficient additional capital or develop the envisioned therapy. 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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