Sixth Wave Continues Phase 2 Rapid COVID Test Development and Receives Funding from Nova Scotia COVID-19 Response Council
Halifax, Nova Scotia--(Newsfile Corp. - October 27, 2020) - Sixth Wave Innovations Inc. (CSE: SIXW) (OTCQB: ATURF) (FSE: AHUH) ("Sixth Wave", "SIXW" or the "Company") is pleased to announce that it has received a $250,000 contribution from the Nova Scotia COVID-19 Response Council ("NSCRC") for the development of its proposed AMIPs™ technology for the rapid detection of viruses such as SARS-CoV-2 ("SARS-CoV-2" or the "Virus"). AMIPs™ is based on Sixth Wave's patented and patent-pending molecularly imprinted polymer systems.
Under the terms of the Agreement, dated October 22, 2020, Sixth Wave will continue to develop an Accelerated Molecularly Imprinted Polymer (the "AMIPs™") specifically for the purpose of quickly and selectively binding to the Virus. The proposed technology also contemplates the rapid delivery of a visual and/or electronic response upon the detection and verification of the Virus. The Company's intention is to incorporate the AMIPs™ technology into a several rapid-detection products, including rapid virus test kits, SmartMask™, as well as air and water monitoring systems. The ability to have the AMIPs™ detection and reporting directly integrated into devices such as Personal Protective Equipment (PPE's) will seamlessly provide the detection and the ability to automatically disseminate results for use in outbreak tracking and contact tracing (as may be implemented by appropriate Government agencies). The development of the air monitoring technology is the subject of the Company's previously approved and announced (June 15, 2020) collaboration with York University and Centre Technologique des Residus Industriels which has received support from the Natural Sciences and Engineering Research Council of Canada ("NSERC").
This Project represents the first outside funding in the development of the Company's proposed AMIPs™ virus detection technology, and expands the SIXW footprint in Nova Scotia. As previously announced (May 15, 2020), SIXW has already engaged Neocon International Inc., a premier manufacturing company in Dartmouth to commercialize the SmartMask™ product. Moreover, SIXW has executed a Memorandum of Understanding with Dalhousie University to explore near term opportunities to establishing a research and development presence in the Province.
"Our sincere appreciation to the Province of Nova Scotia for its participation in this project," said Dr. Jon Gluckman, CEO of Sixth Wave. "Sixth Wave has a substantial history of delivering similarly complex MIP based solutions within limited timelines, as evidenced by our explosives detection wipes and bacterial pathogen diagnostic tools. We welcome this opportunity to once again prove the utility of molecular imprinting as a detection and diagnostic tool, especially in circumstances of such importance to public health and security."
"MIP technology is well documented in the scientific literature as being a comparatively fast and reliable diagnostic tool," said Garrett Kraft Ph.D., head of the Sixth Wave project. "MIP-based analytical technologies are also known for their flexibility, durability and accuracy. Polymer substrates demonstrate resilience under adverse conditions, and do not require climate-controlled storage as many antibody based tests do. They can therefore be readily applied to a host of materials, fabrics and other test media. These attributes along with low cost and production scalability have the potential to set AMIPs™ apart from traditional PCR and immunoassay tests."
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-2 coronavirus) at this time. AMIPs tests produced for personal use or point of care use will be subject to regulatory approval.
The Project has a number of objectives, culminating in the development of a Molecularly Imprinted Polymer ("MIP") formulation with measurable binding of inactivated SARS-CoV-2 in a buffer solution with limits of detection less than 15,000 virus particles / mL (comparable to several other commercially available diagnostic technologies) and a basic colorimetric response using protein labeling chemistry. Clinically relevant viral loads have been determined to be approximately 15,000 virus particles / mL. Although a MIP for the detection of SARS-CoV-2 has not previously been developed, other virus imprinted polymers have demonstrated detection limits as low as 105 virus particles / mL.
Overall, the Company's objectives for the COVID-selective AMIPs™ include:
- Flexibility - The ability to analyze a significant variety of field samples such as specimens garnered from bodily fluids, breath, air, waste streams, and contact surfaces;
- Speed - The ability to detect and to communicate an electronic or visual signal almost immediately upon positive diagnosis;
- Ease Of Use - The ability to integrate with a variety of devices not requiring specialized training, and
- Low Cost - enabling widespread and frequent testing that will allow for safe return to daily activities and outbreak management.
The Company's COVID-19 Project represents the first step in the development of a flexible platform which can be adapted to detect virtually any virus. For more information on the proposed AMIPs™ technology and associated fundamental and device-related patent applications, see: www.amips.com.The overall budget for this Project totals $770,000, of which $250,000 will be funded through the contribution by the NSCRC.
The Company's molecularly imprinted polymer technology is also being commercialized in the mining and cannabis sectors.
About Sixth Wave
Sixth Wave is a nanotechnology company with patented technologies that focus on extraction and detection of target substances at the molecular level using highly specialized Molecularly Imprinted Polymers (MIPs). The Company is in the process of commercial roll out of its Affinity™ cannabinoid purification system, as well as, IXOS®, a line of extraction polymers for the gold mining industry. The Company is in the development stages of a rapid diagnostic test for viruses under the Accelerated MIPs (AMIPS™) label.
Sixth Wave can design, develop and commercialize MIP 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 use of proceeds and performance of the AMIPs™ technologies. 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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