FluroTech and nanoComposix Announce Joint Venture SARS-CoV2 Test Method Optimization

CALGARY, Alberta, Nov. 12, 2020 (GLOBE NEWSWIRE) – FluroTech Ltd. (TSXV: TEST) (OTCQB: FLURF), (“FluroTech” or “the Company”) is pleased to announce that has begun optimization of its SARS-CoV2 rapid detection test method with nanoComposix, a highly regarded life science nanotechnology company that specializes in the development and manufacturing of lateral flow rapid tests.

The purpose of optimization is to advance FluroTest’s test method from proof of concept to commercial scale production readiness as it prepares for the U.S. Food and Drug Administration’s review process.  

Founded in 2004, nanoComposix has a multi-disciplinary team of scientists with backgrounds in chemistry, physics, and engineering. nanoComposix has worked with over 100 different clients to develop materials, composites and formulations with tailored optical and physical properties for a wide range of applications including medical devices, nanoparticle drug delivery, optical sensors, and consumer products.

“nanoComposix is a key development partner and has supported us extensively through the process of achieving our successful proof of concept,” noted Dr. Mauricio Arias, R&D Director and Senior Scientist. “We are entering the optimization stage of our test method development having achieved a consistent Limit of Detection (“LOD”) of 1,000 viral particles per milliliter of saliva. Based upon publicly available information for other antigen tests, our test method produces LOD results significantly below any antigen test approved by the United States Federal Drug Administration.   We are highly confident in nanoComposix’s proven optimization capabilities as we move to the commercialization stage of our pandemic defense platform.”

Limit of detection is the minimum amount of target microorganisms that can be reliably detected under optimal conditions and is an essential step in determining the sensitivity of any assay and reducing the false negative results.

“We are excited to be working with FluroTest as a partner in the development of their novel SARS-CoV2 test. Our partnership leverages our core competencies in the development of nanomaterials and lateral flow assay systems to create a unique platform to achieve extremely low limits of detection comparable to that of molecular based testing methods that have become the standard for COVID-19 detection. We are confident of the outcomes we can achieve,” stated Steve Oldenburg, CEO of nanoComposix.

By combining and leveraging the disciplines of robotics automation, biochemistry (antibody labeling and binding), fluorescence detection and cloud computing, FluroTest believes it is creating the first pandemic defense platform (the “Platform”) of its kind, achieving throughput rates of 3,000 tests per hour with results on the mobile device of the test taker in 5 minutes.

FluroTest believes its Platform can benefit organizations serving large, concentrated populations and bearing significant pandemic risk, forcing them to incur consequential business disruptions and closures. Examples include, but are not limited to: colleges and universities, hospitals & large healthcare complexes, athletic stadiums & large performance venues, corporate campus environments, large office buildings & complexes, shopping malls and centers, retail working warehouses, factories, food processing plants, airlines, as well as any public transportation hub such as subway entrances and airport terminals.

Readers are cautioned that, although FluroTest has achieved proof of concept prototype, the testing method and device is still in the early stages of research and development 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. The Platform is currently pending FDA approval. In addition, FluroTest requires additional capital in the near-term to further the development and deployment of its testing device and will be seeking equity investors and is exploring strategic partnerships in connection with the same.

About FluroTech (TSXV: TEST) (OTCQB: FLURF)

FluroTech’s proprietary spectroscopy-based technology allows for the testing and identification of organic and inorganic compounds contained within biological samples for specific applications. Using technology that was first developed at the University of Calgary, FluroTech has created a two-part solution comprised of its CompleTest™ platform technology and consumable testing kits. Its accuracy has been independently validated. FluroTech continues to develop additional applications for the CompleTestTM platform technology. To learn more, visit FluroTech.com

About FluroTest LLC

Unlike firms developing individual tests for the detection of SARS-CoV2, FluroTest is developing a complete system for surge-scale testing of viruses and other pathogens to be deployed in environments where significant numbers of people need to be tested rapidly and frequently. By combining and leveraging the disciplines of robotics automation, biochemistry (antibody labeling and binding), fluorescence detection and cloud computing, FluroTest believes it is creating the first pandemic defense platform of its kind.

FluroTest is seeking additional capital in the near-term and will also be exploring strategic partnerships with manufacturing and distribution companies to advance the deployment of the patent pending platform it is developing. To learn more, visit FluroTest.com

About nanoComposix  

nanoComposix (www.nanocomposix.com) has been providing customers with precisely engineered and highly characterized nanoparticles for more than 15 years, offering hundreds of different variants of material, size, shape, and surface functionalization as stock products. Their multidisciplinary technical teams provide rapid prototyping, characterization, integration, and scale-up solutions to accelerate R&D and commercialization for a wide variety of applications. nanoComposix is committed to helping its customers bring nanotechnology-enabled products to market and executes contract manufacturing on scales ranging from small beakers to thousands of liters. Nanomaterials for medical devices and clinical trials are fabricated in ISO13485 and cGMP compliant cleanroom facilities.