Sixth Wave Updates on Earlier Press Release
Vancouver, British Columbia--(Newsfile Corp. - April 6, 2020) - Sixth Wave Innovations Inc. (CSE: SIXW) (OTC: ATURF) (FSE: AHUH) ("Sixth Wave" or the "Company") is pleased to provide further information regarding its news release originally issued Friday, April 3, 2020, at the request of IIROC.
The Company notes that it has not yet completed development of a prototype for the product that is the subject of its patent application and that it has not yet applied for regulatory approval for the use of this product from any regulatory agency. Internal research and development are ongoing and being conducted by Sixth Wave's scientific team.
One of the core elements and advantages to the Company's proposed approach is that, unlike other Rapid Detection Systems, the AMIPs technology proposes to identify the virus without having to wait for the development of antibodies, antigens or other biological markers for the virus for either development or identification. The AMIPs technology can additionally be developed using molecular proxies for the virus, without the need for handling live viruses during the product testing and development stages. This approach allows the Company to proceed through many phases of the development before it needs to engage a qualified laboratory for validation testing. The Company maintains research connections with major US universities and national laboratories and will engage these and other experts and research facilities at the appropriate time in the development process. As the engagement of third parties has not yet been required, external expenditure on the development of the AMIPs technology has been minimal to date.
The AMIPs approach is consistent with the Company's overall approach to the development of MIPs and is embodied in the Company's other existing and pending patents. These techniques, which are being extended to the AMIPs technology for virus detection also allow the Company more straightforward pathways to large scale manufacture as using artificial imprint molecules allow the Company to produce its polymer and products at larger scale, faster, and without risk of exposure to the active virus. With this in mind, the Company notes that testing has not yet commenced on the specific Covid-19 virus or its proxies, activities which will be incorporated into the AMIPs development process.
ON BEHALF OF THE BOARD OF DIRECTORS
Jonathan Gluckman, Ph.D., President & CEO
For information, please contact the Company:
Phone: (801) 582-0559
This press release includes certain statements that may be deemed "forward-looking statements" including statements regarding the planned features, capacity and performance of the AMIPs technology. All statements in this release, other than statements of historical facts, that address future events or developments that the Company expects, are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual events or developments may differ materially from those in forward-looking statements. Such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause the Company's actual performance and financial results in future periods to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. In particular, successful development and commercialization of the AMIPs technology are subject the risk that the AMIPs technology may not prove to be successful in detecting virus targets effectively or at all, uncertainty of medical product development, uncertainty of timing or availability of required regulatory approvals, lack of track record of developing products for medical applications and the need for additional capital to carry out product development activities. The value of any products ultimately developed could be negatively impacted if the patent is not granted.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/54170