18:46:32 EST Tue 28 Nov 2023
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Sona Nanotech Inc
Symbol SONA
Shares Issued 95,095,360
Close 2023-09-01 C$ 0.19
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Sona Nanotech forms partnership with EXCITE

2023-09-05 13:42 ET - News Release

Mr. David Regan reports


Sona Nanotech Inc. has partnered with EXCITE International, a global network of senior specialist physicians, payors, health systems and end-users, to help guide the development of Sona's targeted hyperthermia therapy. Through this partnership with EXCITE, Sona will gain access to EXCITE's global network to help it align preclinical and clinical trial design and regulatory strategy with the interests of specialist practitioner and potential payor groups.

The work to be completed by EXCITE, which is a not-for-profit entity made up of a global network of senior medical practitioners and payors, will include an early technology review and multiple panel discussions to be facilitated among content area experts to gain feedback on Sona's proposed therapy and commercialization strategy. The EXCITE panel is expected to be made up of senior medical practitioners from top-tier hospitals and universities in the United States and Canada.

Sona chief executive officer, David Regan, commented: "EXCITE will put us in front of leading oncologists and medical coverage insurance providers to give Sona early feedback to help ensure that the therapy we are developing is done in a way that is what patients, practitioners and payors will value, prescribe and pay for, respectively. EXCITE is known for attracting leading physicians and representatives from payor organizations, and we look forward to working with these individuals to gain their guidance over the next few months with the aim to de-risk our approach and speed our time to market."

Founder and chief executive officer of EXCITE, Dr. Leslie Levin, explained the network's process and how it impacts adoption: "EXCITE offers early direct engagement with experts and payers through early technology review, protocol development and clinical trial execution. This allows companies to anticipate and meet the downstream expectations of these important stakeholders. EXCITE is selective in only taking on potentially impactful technologies that offer improved patient outcomes and/or health system efficiencies. Sona Nanotech's 'targeted hyperthermia therapy' clearly offers promise across this spectrum."

EXCITE recognizes the current process of evidence development late in the life cycle is responsible for high payor rejection rates of Food and Drug Administration-cleared technologies. The EXCITE process addresses this issue through early engagement. Dr. Levin stated: "Offering these early insights continues to provide companies with an understanding of expectations of key stakeholders early enough to allow them to develop strategies that meet their expectations and, in so doing, mitigate the risk of downstream rejection. The EXCITE approach also derisks investments into technology development."

Dr. Levin has experience in cancer immunology, biochemistry research, practice experience as an academic medical oncologist and has participated in numerous cancer-related clinical trials, published over 60 original papers, and led the development of evidence at the policy interface with EXCITE.

About Sona Nanotech Inc.

Sona Nanotech, a nanotechnology life sciences company, is developing targeted hyperthermia, a photothermal cancer therapy, which uses therapeutic heat to treat solid cancer tumours. The heat is delivered to tumours by infrared light that is absorbed by Sona's gold nanorods in the tumour and re-emitted as heat. Therapeutic heat (44 degrees) stimulates the immune system, shrinks tumours, inactivates cancer stem cells and increases tumour perfusion -- thus enabling drugs to reach all tumour compartments more effectively. The size, shape and surface chemistry of the nanorods target the leaky vasculature of solid tumours, and the selective thermal sensitivity of tumour 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's initial clinical target is colorectal cancer.

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.

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