Therma Bright and Orpheus Medica Advance CoviSafe(TM) Rapid Saliva Test to Formal Product Developmental Phase
Successful Completion of the feasibility Studies followed by engagement of nanoComposix to accelerate the development of CoviSafe(TM)
Toronto, Ontario--(Newsfile Corp. - October 21, 2020) - Therma Bright Inc. (TSXV: THRM) ("Therma" or the "Company"), a progressive medical device technology company, and its co-development partner, Orpheus Medica Inc. ("Orpheus") are pleased to announce the successful completion of the initial feasibility studies with its polypeptide detection candidates for CoviSafe™.
Therma & Orpheus are also pleased to announce the engagement of nanoComposix Inc. ("nanoComposix") to complete the development of CoviSafe™. NanoComposix is uniquely positioned to begin final development of CoviSafe™ and to assist Therma & Orpheus with defining optimal reagents and chemistries necessary to make CoviSafe™ an ultrasensitive, rapid, saliva-based, point of care lateral flow test for SARS-CoV-2.
NanoComposix is a global supplier of the widest variety of precisely engineered, highly characterized nanoparticles and provides full-service lateral flow assay development solutions for its medical device customers. nanoComposix has more than a decade of experience building precisely engineered and highly characterized nanomaterials for thousands of customers worldwide.
Therma & Orpheus will retain the commercial rights to the resulting CoviSafe™ rapid saliva test. The companies will work in parallel to complete development of the test prior to clinical testing for submission to Health Canada, FDA and to attain European CE marking to introduce CoviSafe™ into markets as quickly as possible.
Rob Fia, CEO Therma Bright, commented, "We are pleased to complete the feasibility study and advance to next steps in the development of CoviSafe™. It is exciting to work with such a proactive and experienced team at nanoComposix. nanoComposix will assist Therma & Orpheus to fast track the development of CoviSafe™."
Saied Babaei, CEO of Orpheus, commented, "With the help of nanoComposix, we will be able to accelerate our work and bring this critical test to the market quicker. We are impressed by nanoComposix's expertise in working with Orpheus' biological candidates to enhance sensitivity and specificity of the CoviSafe™ rapid test. We feel the addition of this strong technical team will further de-risk and accelerate the regulatory process and clinical validation of our saliva-based rapid test."
About Therma Bright Inc.
Therma Bright is a progressive medical device technology company focused on providing consumers and medical professionals with quality medical devices that address their medical and healthcare needs. The Company's initial breakthrough proprietary technology delivers effective, non-invasive and pain-free skincare. Therma Bright received a Class II medical device status from the FDA for its platform technology that is indicated to relieve the pain, itch, and inflammation of a variety of insect bites or stings. The Company received clearance for the above claims from the US FDA in 1997.Therma Bright and Orpheus are not making any express or implied claims that its product, CoviSafe™, has the ability to eliminate or cure COVID-19 (or SARS-CoV-2 virus).
About Orpheus Medica Inc.
Orpheus Medica is a fully integrated research-driven Canadian biotech company focused on the development and commercialization of innovative diagnostic and therapeutics for unmet medical needs. Orpheus, with its fully integrated R&D infrastructure, provides strategic partners and collaborators access to its proven and proprietary discovery and development of novel biopharmaceutical products. Our team has over 15 years of proven and validated computational capabilities for analysis and optimization of single-domain antibodies and other polypeptides.
NanoComposix is a San Diego, California company with the world's largest variety of metal nanoparticles for biomedical applications in life science, diagnostics, and therapeutics. GMP and ISO13485 compliant manufacturing methods produce precisely engineered and highly characterized nanoparticles that provide high levels of consistency and performance. Through the establishment of open and collaborative relationships, we rapidly generate innovative solutions to our clients' most challenging R&D problems. NanoComposix markets their products directly and through distributors and licensing partners worldwide.
For further information, please contact:
Rob Fia, CEO
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Saeid Babaei, Chairman & CEO
FORWARD LOOKING STATEMENTS
Certain statements in this news release constitute "forward-looking" statements. These statements relate to future events related to the development of CoviSafe™ as described in the news release. All such statements involve substantial known and unknown risks, uncertainties and other factors which may cause the actual results to vary from those expressed or implied by such forward-looking statements. Forward-looking statements involve significant risks and uncertainties, they should not be read as guarantees of future performance or results, and they will not necessarily be accurate indications of whether or not such results will be achieved. Actual results could differ materially from those anticipated due to a number of factors and risks. Although the forward-looking statements contained in this news release are based upon what management of the Company believes are reasonable assumptions on the date of this news release, the Company cannot assure investors that actual results will be consistent with these forward-looking statements. The forward-looking statements contained in this press release are made as of the date hereof and the Company 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 under applicable securities regulations.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.
This press release is not an offer of the securities for sale in the United States. The securities have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an exemption from registration. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful.
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