(MENAFN Editorial) 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.
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:
President and Chief Executive Officer
Telephone: (902) 442-7192
Email: Darren Rowles
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