CALGARY, AB and MONTRÉAL,
May 13, 2021 /CNW/ - FluroTech
LTD. (TSXV: TEST) (OTCQB: FLURF) and wholly owned subsidiary
FluroTest Diagnostics Systems ("FluroTest" or The
Company), a diagnostics technology leader in high output rapid
antigen testing for the detection of SARS-CoV-2 and other
pathogens, today announces it has signed a strategic Memorandum of
Understanding dated May 6, 2021
("MoU") with SNC-Lavalin (TSX: SNC) to support
pre-deployment, commercialization and operations phases of
FluroTest's high-volume COVID-19 rapid antigen test platform.
Under the terms of the MoU, SNC-Lavalin will provide support to
FluroTest in their mandate to bring its rapid antigen testing
system to market by providing services during regulatory
submission, grant application, business development, robotics/skid
design & assembly, room design/build, site installation,
commissioning & validation as well as program & project
management. SNC-Lavalin may continue thereafter executing site
operations and support of the platform. FluroTest will provide all
necessary technical information and support. Both parties will work
together to deliver FluroTest's solution. The MoU term is for one
year and does not contemplate any financial considerations.
FluroTest's high-volume antigen system is designed to facilitate
very 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 athletic stadiums and
performance venues, airline and cruise ship terminals, corporate
campuses, manufacturing facilities, schools and colleges, hospitals
and large healthcare facilities, transportation and distribution
hubs and other large businesses. The Company is presently engaged
in clinical trials and plans submissions for Emergency Use
Authorization ("EUA") from the U.S. Food and Drug Administration
("FDA") and from Health Canada for an Interim Order
Authorization.
"We are proud to support FluroTest in the deployment of their
innovative solution to help stop the spread of COVID-19 and improve
the health of our communities by leveraging SNC-Lavalin's markets
and global expertise," said Normand
Dubuc, Vice-President, General Manager, Industrial Solutions
at SNC-Lavalin. "We appreciate FluroTest's dedication to provide
this affordable, adaptable and portable solution as an important
step in providing individuals with the information they need to get
back to leading a full and healthy life."
The Life Sciences group of SNC-Lavalin has been designing and
delivering pharmaceutical, biotech and medical device research and
production facilities around the world for over 30 years Their
highly skilled team dedicated to this regulatory environment offers
end-to-end services from design to construction with validation and
quality assurance. They have delivered production sites in
fast-track mode, and supported operations for some of the biggest
names in pharma, while accompanying innovative start-ups through
their journey to commercial manufacturing.
"Partnering with an established company like SNC-Lavalin will
help us expedite commercialization, access vast supply chain
expertise and help establish the FluroTest Pandemic Defense
Platform as the preferred point of access testing solution," said
Bill Phelan, CEO of FluroTest. "As
Canada and the U.S. ramp
up testing to serve vulnerable populations, we look forward to
working with a professional services group known for creative
solutions as we jointly deliver trusted point of access
testing for unpredictable times."
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 FluroTech (TSXV: TEST)
(OTCQB: FLURF)
The goal of FluroTech's research and technology is to develop
detection methods which are high speed, 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 Diagnostics Systems Ltd.
("FluroTest"), the interests in which have been disclosed in
previous press releases, 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.
About FluroTest Diagnostic Systems Ltd.
FluroTest, a diagnostics technology leader in surge-scale rapid
antigen testing for the detection of SARS-CoV2 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 and public
well-being, 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.
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 100% 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 100% 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.
View original content to download
multimedia:http://www.prnewswire.com/news-releases/flurotest-and-snc-lavalin-sign-mou-to-bring-saliva-sample-based-sars-cov-2-testing-solution-system-to-market-in-canada-and-beyond-301290409.html
SOURCE FluroTech Ltd.