Distribution and Development Agreement Signed Between Sona Nanotech Inc.and Expedeon

Halifax, Nova Scotia–(Newsfile Corp. – October 11, 2018) – Sona Nanotech Inc. (CSE: SONA) today announced the signing of an agreement with global biotech company Expedeon Ltd. (FSE: EXN) for the supply of Sona’s unique gold nanorods for integration into Expedeon’s product range.

Expedeon is a global provider of innovative technologies and services for the life sciences and diagnostics industries. Following evaluation of the quality and sensitivity of Sona’s gold nanorods, Expedeon decided to include their Gemini and Omni products within their complete range of gold nanoparticles and conjugation technologies.

Under the terms of the agreement, signed Oct 3rd 2018, Expedeon has exclusive rights to promote and market the nanorods to life science researchers and diagnostic companies around the world via its extensive distribution network and strong direct sales channels.

The company will invest in R&D to incorporate Sona’s technology into its comprehensive product range coupled with its own proprietary technologies. Both companies are exploring how they can develop the partnership even further to increase the offerings to their customers.

Sona Nanotech CEO Darren Rowles said: “Expedeon has a built a reputation as a world-leading business in the life sciences and diagnostics industries and is considered the go-to company for innovative reagents. We are delighted to have signed this agreement with Expedeon, which will open access to new markets, new technologies and new lateral flow test developers for Sona to collaborate with and develop next generation lateral flow assays. To have our products integrated into the Expedeon product line is a huge milestone for Sona as we continue to work towards our goal of becoming a global life sciences brand.”

Expedeon CEO Heikki Lanckriet said: “We are excited to be incorporating Sona’s technologies into our range of gold nanoparticle technologies. We were really impressed by the quality and sensitivity of their gold nanorods. We believe many of our customers are going to be interested in this innovative technology and the multiplex capabilities, and we are eager to be expanding our offering to new markets.”

About Sona Nanotech Inc.

Sona Nanotech Inc. is a nanotechnology life sciences firm that has developed two proprietary methods for the manufacture of rod-shaped gold nanoparticles. The principal business carried out and intended to be continued by Sona is the research and development of its proprietary technology for use in multiplex diagnostic testing platforms that will improve performance over existing tests in the market.

Sona’s gold nanorod particles are CTAB (cetyltrimethylammonium) free, eliminating the toxicity risks associated with the use of other gold nanorod technologies in medical applications. It is expected that Sona’s gold nanotechnologies may be adapted for use in applications, as a safe and effective delivery system for multiple medical treatments, pending the approval of various regulatory boards including Health Canada and the FDA.

Sona is a publicly listed company on the Canadian Securities Exchange existing under the laws of Nova Scotia, with its operations in Nova Scotia.

About Expedeon

Expedeon is an enabler of exciting advances in medical science and patient care. The Company’s core technologies, innovative products and services are used in research laboratories around the world, enabling scientists to push the boundaries of research and product development, and play an integral part in new diagnostic tools being brought to market. With applications spanning the entire workflows in genomics, proteomics and immunology, Expedeon’s technologies both accelerate and simplify research and make new and cost-effective processes available to biopharmaceutical and diagnostic organisations alike, thereby underpinning its customers’ development and commercialisation objectives. Expedeon’s products are sold through a direct sales force and several distribution partners in Europe, the USA and Asia. Expedeon AG has offices in Germany, Australia Spain, UK, USA and Singapore. The Company is listed on the Prime Standard segment of the Frankfurt Stock Exchange (FSE: EXN) (ISIN: DE000A1RFM03) Revenues have grown from €1.8m in 2016 to expected revenues of €13-14m in 2018.

For More Information

For more information about Stockport, please contact:
Darren Rowles
President and Chief Executive Officer
Telephone: (902) 442-7192
Email: Darren Rowles darren@sonanano.com

Neither Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this release.

FORWARD LOOKING INFORMATION

This press release contains forward-looking statements and information that are based on the beliefs of management and reflect the Company’s current expectations. When used in this press release, the words “estimate”, “project”, “belief”, “anticipate”, “intend”, “expect”, “plan”, “predict”, “may” or “should” and the negative of these words or such variations thereon or comparable terminology are intended to identify forward-looking statements and information. The forward-looking statements and information in this press release includes information relating to the Amalgamation (including the structure of the Amalgamation), the Amalgamation (including shareholder approval, shareholder support, and other terms), the Private Placement (including its completion and the use of proceeds from the Private Placement), the directors and management of the resulting issuer upon completion of the Amalgamation, and the implementation of Sona’s business plan. Such statements and information reflect the current view of the Company with respect to risks and uncertainties that may cause actual results to differ materially from those contemplated in those forward-looking statements and information.

By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, the following risks: risks associated with the completion of the Amalgamation and matters relating thereto; and risks associated with the marketing and sale of securities, the need for additional financing, reliance on key personnel, the potential for conflicts of interest among certain officers or directors, and the volatility of the Company’s common share price and volume. Forward-looking statements are made based on management’s beliefs, estimates and opinions on the date that statements are made and the Company undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change. Investors are cautioned against attributing undue certainty to forward-looking statements.

There are a number of important factors that could cause the Company’s actual results to differ materially from those indicated or implied by forward-looking statements and information. Such factors include, among others, risks related to Sona’s proposed business, such as failure of the business strategy and government regulation; risks related to Sona’s operations, such as additional financing requirements and access to capital, reliance on key and qualified personnel, insurance, competition, intellectual property and reliable supply chains; risks related to Sona and its business generally, such as infringement of intellectual property rights and conflicts of interest. The Company cautions that the foregoing list of material factors is not exhaustive. When relying on the Company’s forward-looking statements and information to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. The Company has assumed a certain progression, which may not be realized. It has also assumed that the material factors referred to in the previous paragraph will not cause such forward-looking statements and information to differ materially from actual results or events. However, the list of these factors is not exhaustive and is subject to change and there can be no assurance that such assumptions will reflect the actual outcome of such items or factors. While the Company may elect to, it does not undertake to update this information at any particular time.

THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS PRESS RELEASE REPRESENTS THE EXPECTATIONS OF THE COMPANY AS OF THE DATE OF THIS PRESS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY OTHER DATE. WHILE THE COMPANY MAY ELECT TO, IT DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME EXCEPT AS REQUIRED IN ACCORDANCE WITH APPLICABLE LAWS.

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES
OR DISSEMINATION IN THE UNITED STATES

Advertisements