Sona Nanotech - President and CEO, Darren Rowles
President and CEO, Darren Rowles
Source: Inkwood Research
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Sona Nanotech (CSE:SONA) has engaged leading scientific research organisation MRIGlobal to help evaluate its COVID-19 antigen tests
  • MRIGlobal will perform analytical and valuation studies on Sona Nanotech’s COVID-19 antigen test prototype 
  • Sona will then use the studies in the test’s application to Health Canada, as well as its Emergency Use Authorisation application to the US Food and Drug Administration
  • Thus far, the company has signed non-binding letters of intent to supply up to 4.7 million tests but stressed the product is still an unvalidated prototype
  • Sona Nanotech (SONA) is up 1.9 per cent and is currently trading at $1.60 per share

Sona Nanotech (CSE:SONA) has engaged leading scientific research organisation MRIGlobal to help evaluate its COVID-19 antigen tests.

MRIGlobal will perform analytical and valuation studies on Sona Nanotech’s COVID-19 antigen test. The studies will be part of Sona Nanotech’s application to Health Canada.

MRIGlobal’s studies will also be used in Sona Nanotech’s application to US Food and Drug Administration for Emergency Use Authorisation.

The studies will be performed at MRIGlobal’s Kansas laboratories and will using a live version of the SARS-CoV-2 virus.

Previously, Sona Nanotech’s evaluated its test against an attenuated virus and saw positive results.

Sona Nanotech CEO, Darren Rowles, believes the deal with MRIGlobal is another step forward for the company.

“We are delighted to be moving into the final validation process and looking forward to the potential of a test that can tangibly advance the safety and quality of life for our communities.

“Our lab team, in particular, deserves credit for their tremendous work in significantly progressing our antigen test prototype in a short period of time,” he said.

Thus far, the company has signed non-binding letters of intent to supply up to 4.7 million tests.

Sona Nanotech expects to begin receiving deposits and evaluating other expressions of interest, once the validation results are published.

However, the company did point out that, at this point, the technology remains unvalidated.

Due to increased interests in its COVID-19 antigen tests, the company’s market share has risen more than 1000 per cent in recent months.

Sona Nanotech (SONA) is up 1.9 per cent and is trading at $1.60 per share at 9:55am EDT.

More From The Market Herald

" BetterLife (CSE:BETR) files a comprehensive patent for BETR-001 and other LSD derivatives

BetterLife Pharma (BETR) filed a PCT patent application and a U.S. application for lysergic acid diethylamide (LSD) derivatives, including 2-bromo-LSD.

" Hemostemix (TSXV:HEM) appoints Dr. Ernst von Schwarz to its Scientific Advisory Board

Hemostemix (HEM) has appointed Dr. Ernst von Schwarz, MD, Ph.D., FESC, FACC, FSCAI to its Scientific Advisory Board.

" Mindset Pharma (CSE:MSET) signs intellectual property license with Cybin (NEO:CYBN)

Mindset Pharma (MSET) announced a licensing agreement allowing Cybin (CYBN) to acquire intellectual property rights for a subset of Mindset’s preclinical compounds.