CALGARY, AB, May 4, 2021 /CNW/ - FluroTech Ltd. (TSXV:
TEST) (OTCQB: FLURF) and subsidiary FluroTest Diagnostics Systems
("FluroTest" or The Company), a first-mover in surge-scale
rapid antigen testing for the detection of SARS-CoV-2 and other
pathogens, are pleased to announce based on the data collected to
date that the FluroTest platform will be capable of detecting the
primary variants of concern now spreading across North America and fueling serious outbreaks
around the world.
Many of the variants of concern are mutations that alter the
viral structure through the spike ("S") protein found on the
molecular surface. FluroTest's antigen immunoassay detects the
nucleocapsid ("N") protein, which is found deep within the virus'
structure and, so far, remains relatively unaffected by major
mutations in the main variants of concern. FluroTest works
with the world's leading reagent suppliers of the antibody pairs
that are used in the Pandemic Defense Platform Immunoassay.
Additionally, they have confirmed that the antibody pairs FluroTest
uses can detect the UK, South African and Brazilian variants and
they continually collect data on emerging variants of concern.
"We are pleased to work with suppliers that have extensive
biologics experience to give us the confidence that we will be able
to detect the variants of concern," said FluroTech R&D Director
and Senior Scientist, Dr. Mauricio
Arias. "As new variants emerge at an increasing pace,
testing will become much more important worldwide. I believe many
countries will follow the UK's strategy of fast, frequent and easy
testing."
Variants of the SARS-CoV-2 virus first identified in the UK,
South Africa, and Brazil appear to be more transmissible than
the original wild viral strain first identified in 2019. The
increased frequency and spread of these variants of concern has
solidified the importance of widespread screening and surveillance,
two of many uses for the FluroTest Pandemic Defense Platform.
Leaders from FluroTest's target industries have openly stated that
vaccine passports alone will not be sufficient. Accurate and
verifiable testing is also extremely important to reopening the
economy.
"The most common consensus is that vaccines alone will not be
enough to end the pandemic in light of the rapid mutations of
SARS-CoV-2," added Danny
Dalla-Longa, CEO of FluroTech. "By identifying people
who are actively contagious and preventing them from entering
sports stadiums, airplanes, cruise ships and schools, we can
actively return to normal pre-pandemic life safely. This can only
be done with strict restrictions in addition to vaccination, or by
fast and frequent testing. Just as with 9-11 and airport
security, international pathogen safety protocols will be evolving.
FluroTest believes that we are that next evolution."
FluroTest's system is designed to facilitate fast and accurate
point-of-access testing of individuals by leveraging the
disciplines of robotics automation, biochemistry, fluorescence
detection and cloud computing. High-risk pandemic environments
supported will include schools and colleges, hospitals and large
healthcare facilities, athletic stadiums and performance venues,
airline and cruise ship terminals, corporate campuses, shopping
centers, manufacturing facilities, transportation and distribution
hubs and other large business and retail locations.
Readers are cautioned that, although FluroTest has achieved
proof of concept prototype, the testing method and device is still
in the pre-approval stage and accordingly FluroTest is not
currently making any express or implied claims that the technology
can, or will be able to, accurately detect the COVID-19 virus.
About FluroTest Diagnostic Systems
FluroTest, a first mover in surge-scale rapid antigen testing
for the detection of SARS-CoV-2 and other pathogens, is developing
a pandemic defense and economic recovery system purpose-built for
businesses and special-needs populations requiring fast and highly
accurate testing for significant numbers of people. Unlike
individual or low-throughput tests, FluroTest's system is designed
to be well-suited for high-traffic, high-risk pandemic environments
including schools and colleges, hospitals and large healthcare
facilities, athletic stadiums and performance venues, airline and
cruise ship terminals, corporate campuses, shopping centers,
manufacturing facilities, transportation and distribution hubs and
other large business and retail locations. Created to support
executive business continuity efforts, the system combines and
leverages the disciplines of robotics automation, biochemistry,
fluorescence detection and cloud computing -- processing thousands
of tests per hour while delivering accurate, digitally verifiable
results to a test taker's mobile device within 5 minutes. To learn
more, visit FluroTest.com
About FluroTech (TSXV: TEST) (OTCQB: FLURF)
FluroTest is a subsidiary of FluroTech. The goal of FluroTech's
research and technology is to develop detection methods which are
sensitive, specific and easy-to-use. By combining FluroTech's
proprietary spectroscopy-based technology with laboratory robotics
automation and cloud computing, FluroTech, through the application
of its technology and investment in FluroTest, has created a unique
solution addressing the current and future pandemics. Using
technology that was first developed at the University of Calgary, the FluroTest SARS-CoV-2
test is designed to identify patients with active virus infection;
this is not necessarily the case for most of the currently approved
tests that are meant to identify patients with SARS-CoV-2 nucleic
acid. FluroTech's laboratory is led by Dr. Elmar Prenner, the original developer of the
technology. Dr. Prenner serves as senior science advisor of
FluroTech and brings over 28 years of expertise in fluorescence
spectroscopy. To learn more, visit FluroTech.com
Cautionary Statement Regarding Forward-Looking
Information
This news release contains "forward-looking information" within
the meaning of Canadian securities legislation. Forward-looking
information generally refers to information about an issuer's
business, capital, technology or operations that is prospective in
nature, and includes future-oriented financial information about
the issuer's perspective financial performance or financial
position. The forward-looking information in this news release
includes disclosure about the ability of the Company's testing
devices to accurately and quickly detect COVID-19 and to process
large numbers of samples in short time frames, the benefits of and
demand for the Company's testing devices, its efforts to obtain
approval of the FDA and Health Canada, its potential partnership
with a major U.S. based healthcare system and finalizing plans to
conduct clinical trials and its intent to amalgamate with FluroTest
Diagnostics Systems Ltd which owns a 95% interest in FluroTest LLC.
The Company made certain material assumptions, including but not
limited to prevailing market conditions and general business,
economic, competitive, political and social uncertainties, the
ability to obtain FDA and Health Canada approvals, the demand for
its COVID-19 testing devices and their ability to perform as
expected, its potential partnership with a major U.S. based
healthcare system and finalizing plans to conduct clinical trials
and its intent to amalgamate with FluroTest Diagnostics Systems Ltd
which owns a 95% interest in FluroTest LLC and to obtain the
regulatory approvals required in connection with the same, to
develop the forward-looking information in this news release. There
can be no assurance that such statements will prove to be accurate,
as actual results and future events could differ materially from
those anticipated in such statements. Accordingly, readers should
not place undue reliance on forward-looking statements.
Actual results may vary from the forward-looking information in
this news release due to certain material risk factors described in
the Corporation's Annual Information Form under the heading "Risk
Factors", the failure to develop and commercialize its testing
devices in a timely manner or at all, the failure to recognize the
anticipated benefits from the devices, the failure to obtain FDA or
Health Canada approval for its products, the risk that regulatory
approvals will not be received and the risk that changing
circumstances will result in the decrease in demand for FluroTest's
products. The Company cautions that the foregoing list of material
risk factors and assumptions is not exhaustive.
The Company assumes no obligation to update or revise the
forward-looking information in this news release, unless it is
required to do so under Canadian securities legislation.
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 of this
release.
This news release does not constitute an offer to sell or a
solicitation of an offer to buy any of the securities. The
securities described herein have not been and will not be
registered under the United States Securities Act of 1933, as
amended, or the securities laws of any state and may not be offered
or sold within the United States
or to or for the benefit or account of U.S. persons, absent such
registration or an applicable exemption from such registration
requirements.
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SOURCE FluroTech Ltd.