00:27:39 EDT Tue 30 Apr 2024
Enter Symbol
or Name
USA
CA



Sona Nanotech Inc
Symbol SONA
Shares Issued 99,145,361
Close 2024-04-05 C$ 0.45
Market Cap C$ 44,615,412
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Sona Nanotech receives $24,894 funding grant

2024-04-08 13:16 ET - News Release

Mr. David Regan reports

SONA NANOTECH SECURES GRANT FUNDING TO SUPPORT INTELLECTUAL PROPERTY STRATEGY AND DEVELOPMENT

Sona Nanotech Inc. has been approved for funding totalling approximately $40,000 to support the development of its intellectual property portfolio.

The Company is receiving advisory services and up to $24,894 in funding from the National Research Council of Canada Industrial Research Assistance Program ("NRC IRAP") IP Assist program to support the development of an intellectual property strategy for Sona's proprietary gold nanorods for novel targeted drug delivery concepts with a view to securing new patents.

The Company was also approved for funding of approximately $15,000 by Springboard Atlantic under its Atlantic IP Advantage program to implement its IP strategy. Springboard Atlantic is designed to grow Atlantic Canada's innovation economy through collaboration among post-secondary institutions and industry. This funding will support the final drafting and filing of a provisional patent for a novel targeted drug delivery concept being developed by the Company.

Sona CEO David Regan commented, "We appreciate the support of both NRC IRAP and Springboard Atlantic under its Atlantic IP Advantage program. This funding will support the Company in its work developing intellectual property around the significant investments it is making locally in the research and development of cancer applications for our proprietary, uniquely biocompatible gold nanorod manufacturing technology."

Contact:David Regan, CEO+1-902-536-1932 david@sonanano.com

About Sona Nanotech Inc.Sona Nanotech, a nanotechnology life sciences company, is developing Targeted Hyperthermia(TM), a photothermal cancer therapy, which uses therapeutic heat to treat solid cancer tumors. The heat is delivered to tumors by infrared light that is absorbed by Sona's gold nanorods in the tumor and re-emitted as heat. Therapeutic heat (41-48degreeC) stimulates the immune system, shrinks tumors, inactivates cancer stem cells, and increases tumor perfusion - thus enabling drugs to reach all tumor compartments more effectively. The size, shape, and surface chemistry of the nanorods target the leaky vasculature of solid tumors, and the selective thermal sensitivity of tumor tissue enables the therapy to deliver clean margins. Targeted Hyperthermia promises to be safe, effective, minimally invasive, competitive in cost, and a valuable adjunct to drug therapy and other cancer treatments.

Sona has developed multiple proprietary methods for the manufacture of gold nanoparticles which it uses for the development of both cancer therapies and diagnostic testing platforms. Sona Nanotech's gold nanorod particles are cetyltrimethylammonium ("CTAB") 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, subject to the approval of various regulatory boards, including Health Canada and the FDA.

We seek Safe Harbor.

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