Sixth Wave Updates on Patent Portfolio
Halifax, Nova Scotia--(Newsfile Corp. - October 16, 2020) - Sixth Wave Innovations Inc. (CSE: SIXW) (OTCQB: ATURF) (FSE: AHUH) ("Sixth Wave" or the "Company") is pleased to provide an update on the Company's growing patent portfolio.
The Company received an Issue Notification from the U.S. Patent and Trademark Office (USPTO) for patent application No. 15/747,858. The patent application was for the Company's molecularly imprinted polymer beads for the extraction of metals and uses thereof. The aforementioned patent will issue on October 27, 2020 as U.S. Patent No. 10,814,306. With the issue of this patent the Company has broadened the Company's already registered patent No. 9,504,988 which is also for the use of the Company's molecularly imprinted polymer beads for the extractions of metals and uses thereof.
The Company has already completed the development and productization of its IXOS® product line for the extraction of gold and silver which represents the first of its embodiments of the aforementioned patents.
In addition to the Company's registered and patent pending patent portfolio covering the extraction of metals and uses there of the Company has filed applications for patents pertaining to its other technology applications as summarized below:
On April 3, 2020, the Company announced that it had filed Patent Application Number 63000977 - "The Use of Molecularly Imprinted Polymers for the Rapid Detection of Emerging Viral Outbreaks" with the US Patent and Trademark Office. This application covered the use of molecularly imprinted polymers for the detection of emerging viral strains such as SARS-CoV-2 and marked the Company's entrance in the virus detection sector. Further patent protection was applied for on April 17, 2020 with the filing of Patent Application Number 63010244. This second application covered application devices which would incorporate the proposed viral detection technology in a variety of applications, including the company's proposed Smartmask™.
The Company is not making any express or implied claims that its product has the ability to eliminate, cure, or contain the COVID-19 (or SARS-CoV-2 coronavirus) at this time. The Company has completed the first phases of development of virus detection polymer embodied in this set of patents under the Accelerated Molecularly Imprinted Polymers (AMIPS™) brand name.
On March 12, 2020, the Company filed Patent Application Number PCT/US2020/022427 for the use of molecularly imprinted polymers for extraction of cannabinoids and uses thereof. This patent application covers the Company's Affinity™ molecularly imprinted polymer technology that is being used in the Company's Affinity™ Cannabinoid extraction systems. The Affinity™ product line is in the final phases of commercialization and optimization with the expected delivery of its first fully functional revenue generating system before the end of the year with full roll out in first quarter 2021.
As noted by Dr. Jonathan Gluckman, President and CEO of SIXW, "The Company is developing a strong history of being awarded patent protection worldwide as evidenced in part with this new issuance. It remains a core priority for the Company to continue to develop new intellectual property to reflect the growing commercial needs for extraction, diagnostic, and purification solutions. Reduction to practice and commercial sales of products utilizing the Company's patents add significant value to the shareholders and helps solidify the Company's position as a leader in this field of nanotechnology."
The Company further reports that it has implemented an employee equity participation plan. The plan, which is voluntary, permits employees to receive compensation in the form of common shares of the company in lieu of a portion, or all, of the employee's cash compensation. The Company has issued a total of 2,016,240 common shares at a price of $0.30 per share representing significant participation by management and key employees. The Company further reports that is has granted a total of 1,150,000 options to directors, employees, advisory board members, and consultants. The options are exercisable at a price of $0.35 per share and will expire on October 16, 2025. One third of the options will vest after six months, with a further third vesting every six months thereafter. Lastly, the company has issued 2,000,000 Deferred Share Units under its Deferred Share Unit Plan.
About Sixth Wave
Sixth Wave is a development stage nanotechnology company with patented and patent-pending technologies that focus on extraction and detection of target substances at the molecular level using highly specialized Accelerated Molecularly Imprinted Polymers (AMIPs™). The Company is in the process of commercializing its Affinity™ cannabinoid purification system, as well as, IXOS®, a line of extraction polymers for the gold mining industry.
Sixth Wave can design, develop and commercialize AMIP solutions across a broad spectrum of industries. The company is focused on nanotechnology architectures that are highly relevant for detection and separation of viruses, biogenic amines and other pathogens, for which the Company has products at various stages of development.
For more information about Sixth Wave, please visit our web site at: www.sixthwave.com
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 and the planned Air Monitoring System. 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. The Company has not yet completed development of a prototype for the product that is subject of its patent application and has not yet applied for regulatory approval for the use of this product from any regulatory agency.
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