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XPhyto Therapeutics Launches Rapid Test for COVID-19, Zacks Research Initiates Coverage

XPhyto Therapeutics Corp. (CSE: XPHY | OTCQB: XPHYF | FSE: 4XT) (“XPhyto”) is a bioscience company with a focus on innovating, accelerating and commercializing, disruptive, disease diagnostic and drug delivery technologies. Some examples are diagnostics (COVID-19 testing and  biosensors) and new thin-film drug delivery methods. The company is also developing new active pharmaceutical ingredient manufacturing processes. XPhyto’s specialty is speed to market of commercial innovative medical products.

XPhyto has international expertise with headquarters in Vancouver and operations out of Germany. The Company is currently focused on regulatory approval and commercialization of medical products for European markets.

A summary of XPhyto Therapeutics Corp.’s bioscience accelerator business

Source: XPhyto company presentation

Rapid COVID-19 PCR test launched

On September 8, XPhyto announced the successful  launch into a growing market demand of its 25-minute COVID-19 PCR test (called ‘Covid-ID Lab test’) in Berlin, Germany. This event followed on news announced on March 18, 2021 that XPhyto’s rapid 25-minute COVID-19 PCR test had gained European approval.

XPhyto stated:

“In parallel to the pilot project, we are developing further approaches and services with our partners to offer modular testing and hygiene solutions for larger events, such as concerts, sporting events and conferences……Given our competitive pricing, we are in a strong position to accelerate sales growth in the near term.”

The XPhyto Covid-ID Lab test has great potential for (25 minute) rapid testing at airports, cruise ship terminals, border testing, schools, medical centers, government agencies, public venues and job sites markets. With over 84 million people, Germany is a very important and potentially lucrative market for XPhyto.  XPhyto plans to expand through Europe to service its 748 million people.

Biosensor test for oral disease launched

On August 30, XPhyto announced the launch of its first commercial biosensor test for oral disease. The biosensor test, in the form of a thin-film tab, dissolves on the tongue and if it turns turns bitter after five minutes it is an indication of the presence of ‘oral inflammation.’  The test has been successfully registered with the appropriate German authorities and is ready for partnering with wholesale distribution partners and market launch.

The announcement stated:

“(XPhyto and partner 3a-diagnostics GmbH) successfully registered their first biosensor test in oral inflammation with the German authorities (cosmetic products notification). The easy at-home self-check can be performed without the need for specific medical knowledge or training, analytical equipment or even a power supply. When placed on the tongue, the thin film dissolves and, after 5 minutes, the biosensor releases a bitter taste in case of oral inflammation. The biosensor functions as a quick test for heightened levels of certain bacteria and viruses to check whether a doctor’s visit and further tests are necessary.”

XPhyto believes that biosensors in general, and 3a’s innovative biosensor system in particular, are a promising and reliable platform technology for accurate, early screening and diagnosis of diseases. XPhyto has signed an acquisition agreement with 3a which means XPhyto will acquire all of the outstanding shares of 3a for EUR 3.9 million with a planned closing on or around October 31, 2021. You can read more details about 3a-diagnostics GmbH here.

XPhyto coverage by Zacks Research

On September 28, 2021, Zachs Research gave an initiated coverage on XPhyto and concluded:

“The company is optimistic about the prospects for the COVID19 test and other products in its pipeline, as noted. While it is difficult to know the revenue arc for XPHYF at this early stage, just based on the sizable need for COVID testing, we believe the current share price of about $1.10 does not reflect the fundamental value of the company’s pipeline and prospects and would anticipate upside if the company continues to advance its candidates. We believe the substantial size of the company’s target markets and the company’s view of the competitive advantages of its diagnostic and delivery platforms suggest strong revenue growth if the company successfully executes its strategy.

……we believe the average pricetosales multiple of companies in this comparison of 14x provides a valuation benchmark for XPHYF. Therefore, applying a 14x multiple to our $8 million to $14 million 2025E revenue forecast and discounting back at 3% results in a present value of nearly $102 million to $179 million for XPHYF, or a mean value of about $2.00 per share.”

XPhyto’s buy and build strategy showing past acquisitions timeline

Source: XPhyto company presentation

Closing remarks

New bioscience companies need to move quickly and work hard to establish a market share into niche products that can rapidly lead to revenues. To do this the company first needs to spot a strong trend or need, such as COVID-19 rapid testing, and then move fast with a great product to get ahead of competitors.

XPhyto is doing a good job so far of innovating and bringing, in-demand, pharmaceutical products rapidly into the marketplace. Its next step will be to see how quickly the products can achieve a strong uptake and strong revenues.

XPhyto Therapeutics Corp. trades on a market cap of C$95 million with the 3a-diagnostics acquisition due to finalize very soon. This acquisition looks to be the best so far and with COVID-19 testing and the biosensor market doing well it should only boost XPhyto’s near term prospects. Stay tuned.




Patient Heal Thyself.

Many, many years ago I worked in the crude oil marketing business with a gentleman (and I use that term loosely) who had a drawer full of “marketing mints”. The so called “mints” ranged from antacids to Tylenol to Advil and various assorted other over the counter remedies for just about anything that ails you. He had a quote that I still use today, “better living through modern chemistry”. Medical science has come a long way over whatever time frame you want to compare and continues to marvel and astound with every new innovation and improvement. Society as a whole is very fortunate for all the really smart people who work hard every day to make our lives better and more comfortable.

Along those lines, today we are going to discuss a bioscience accelerator focused on next-generation drug delivery, diagnostic, and new active pharmaceutical ingredient investment opportunities. XPhyto Therapeutics Corp. (CSE: XPHY | OTCQB: XPHYF) is a next generation bioscience company whose business activities include: precision transdermal and oral dissolvable drug formulations; rapid, low-cost infectious disease and oral health screening tests; and standardization of emerging active pharmaceutical ingredients for neurological applications, including psychedelic compounds and cannabinoids. It’s like a health and wellness ETF all in one stock.

Similar to many of its peers in this new age of a global pandemic, XPhyto was able to adapt some of its existing IP and pivot towards the development of a rapid point of care COVID-19 RT-PCR diagnostic test. However, the key differentiator for XPhyto is that this 25-minute test is a PCR test, not your typical rapid test. The PCR test is accurate and reliable, and has become the gold standard test for diagnosing COVID-19. In March of this year, the Company’s test was approved and registered within the European Union as a commercial in vitro diagnostic test. This in turn led to an agreement with an established German pharmaceutical wholesaler and service provider for the distribution, storage and logistics of XPhyto’s diagnostic products in Germany. By the end of May, they had begun the sale of its 25-minute SARS-CoV-2 RT-PCR test system in Germany. And in late June XPhyto announced that ten COVID-19 test centers in Berlin, Germany had taken delivery of approximately 1,000 tests for the summer and high travel season.

For many countries, only polymerase chain reaction (PCR) tests are accepted to travel making XPhyto’s decentralized testing model critical to yield faster results and more versatile test center options. Processing will occur directly at the sample collection site representing a significant shift from conventional PCR testing models whereby samples are collected and then shipped to large centralized and automated labs for processing. So now instead of trying to track down a test facility before your flight home and hoping you get the result before you head out to the airport, all you have to do with XPhyto’s test is get to the airport half an hour early and you’re good to go.

This is the meat and potatoes stuff going on at XPhyto which could help achieve near term revenue and hopefully help finance the more interesting and exciting developments they have on the go. Those exciting things include the latest announcement by the Company regarding the launch of their first biosensor test. This test for oral inflammation is an easy at home self-check that can be performed without the need for specific medical knowledge or training, analytical equipment or even a power supply. When placed on the tongue, the thin film dissolves and, after 5 minutes, the biosensor releases a bitter taste if oral inflammation exists. The biosensor functions as a quick test for heightened levels of certain bacteria and viruses to check whether a doctor’s visit and further tests are necessary.

In fact, this is the second biosensor announcement in a month. At the end of July, XPhyto and its soon to be acquired partner 3a-diagnostics reported the breakthrough identification of COVID-19 biosensor candidates. It’s the first saliva activated biosensor molecules identified to diagnose COVID-19 infection using XPhyto’s oral dissolvable delivery platform. These enzyme-activated biosensors are developed for real-time, low cost and easy to use oral screening applications for the rapid detection of infectious diseases at home or at the point of care. XPhyto, via 3a, has developed a pipeline of molecular biosensor screening tests for bacterial and viral infectious diseases which include stomatitis, periimplantitis, periodontitis, group A streptococcus, and influenza A. Pretty fascinating stuff, even if I don’t know what half of the things they can readily identify even are.

These are just some of the activities going on at XPhyto, other pursuits include work in the psychedelic space with an exclusive development deal with a Canadian University for industrial scale synthesis of pharmaceutical grade Mescaline and an exclusive development deal with German University for industrial scale biotech production of pharmaceutical grade Psilocybin. The Company has a letter of intent for cooperation in the field of development, production, and distribution of new cannabis infused beverages and products with renowned German brewery Oettinger Brauerei GmbH. Through its wholly owned subsidiary, Vektor Pharma TF GmbH, it’s planning to build a new commercial drug manufacturing facility in Germany. Hence the ETF comment earlier.

The Company should be well funded for the time being as there were 3.1 million in the money warrants exercised for $2.5 million prior to the July 31st expiry date. Combined with the $1.6 million in cash available at the end of Q2 should provide enough liquidity to get to the next quarterly results which will hopefully show some revenue from the rapid COVID-19 PCR tests. The warrant exercise takes the shares outstanding to approximately 72.9 million making for a market cap of roughly $120 million based on yesterday’s close of $1.65. Let’s see if XPhyto Therapeutics provides us with a better living via their modern chemistry.




Hugh Rogers on the European approval of the XPhyto Therapeutics point-of-care SARS-CoV-2 (COVID-19) RT-PCR test system

In a recent InvestorIntel interview, Peter Clausi spoke with Hugh Rogers, CEO and Director of XPhyto Therapeutics Corp. (CSE: XPHY | OTCQB: XPHYF) about the European approval of XPhyto’s point-of-care SARS-CoV-2 (COVID-19) RT-PCR test system (“Covid-ID Lab”). Covid-ID Lab is now registered within the European Union as a commercial in vitro diagnostic (CE-IVD) test.

In this InvestorIntel interview, which may also be viewed on YouTube (click here to subscribe to the InvestorIntel Channel), Hugh went on to say that the company went from concept to commercial approval in less than 12 months which is “unheard of in the biotech world.” With a sample collection to result time of 25 minutes, “Covid-ID Lab combines the speed of a rapid screening test with the accuracy of a PCR diagnostic”. Providing an update on the sales activities for XPhyto’s RT-PCR test system Hugh said that the company is developing partnerships in Israel to pursue market access in the country and has recently commenced a pilot project in Germany with a well-known pharmacy currently running a COVID-19 test center.

To watch the full interview, click here

About XPhyto Therapeutics Corp.

XPhyto Therapeutics Corp. is a bioscience accelerator focused on next-generation drug delivery, diagnostic, and new active pharmaceutical ingredient investment opportunities, including: precision transdermal and oral dissolvable drug formulations; rapid, low-cost infectious disease and oral health screening tests; and standardization of emerging active pharmaceutical ingredients for neurological applications, including psychedelic compounds and cannabinoids. The Company has research and development operations in North America and Europe, with an operational focus in Germany, and is currently focused on regulatory approval and commercialization of medical products for European markets.

To learn more about XPhyto Therapeutics Corp., click here

Disclaimer: XPhyto Therapeutics Corp. is an advertorial member of InvestorIntel Corp.

This interview, which was produced by InvestorIntel Corp. (IIC) does not contain, nor does it purport to contain, a summary of all the material information concerning the Company” being interviewed. IIC offers no representations or warranties that any of the information contained in this interview is accurate or complete. 

This presentation may contain “forward-looking statements” within the meaning of applicable Canadian securities legislation.  Forward-looking statements are based on the opinions and assumptions of management of the Company as of the date made. They are inherently susceptible to uncertainty and other factors that could cause actual events/results to differ materially from these forward-looking statements. Additional risks and uncertainties, including those that the Company does not know about now or that it currently deems immaterial, may also adversely affect the Company’s business or any investment therein.

Any projections given are principally intended for use as objectives and are not intended, and should not be taken,  as assurances that the projected results will be obtained by the Company. The assumptions used may not prove to be accurate and a potential decline in the Company’s financial condition or results of operations may negatively impact the value of its securities. Prospective investors are urged to review the Company’s profile on www.Sedar.com and to carry out independent investigations in order to determine their interest in investing in the Company.

If you have any questions surrounding the content of this interview, please email info@investorintel.com.




XPhyto Therapeutics is looking to hit a home run with their innovative medical products and therapies

New therapies and diagnostics in the pharmaceutical and medical industries can be a very lucrative area. To be successful a company has to outmaneuver the large established drug companies, or focus on niche areas. Today’s company is working on doing just that with their focus on disruptive and innovative solutions in the medical and pharmaceutical space. Two areas they are progressing rapidly are rapid COVID-19 PCR testing and psychedelics therapies for neurodegenerative and other diseases.

XPhyto Therapeutics Corp. (CSE: XPHY | OTCQB: XPHYF | FSE: 4XT) (‘XPhyto’) is a bioscience accelerator focused on next-generation drug delivery, diagnostic, and new active pharmaceutical ingredient investment opportunities. XPhyto is on the cusp of two major commercial milestones related to their rapid point-of-care COVID-19 PCR test system, with expected ISO certification and CE-IVD approval pending.

XPhyto’s Covid-ID Lab 25 minute COVID-19 PCR Test

On February 24, 2021 XPhyto announced their first order for their 25-minute COVID-19 RT-PCR tests, from their exclusive diagnostic development partner, 3a-diagnostics GmbH (‘3a’). The order was for 9,600 individual tests with delivery of the first order expected by mid-March 2021. These tests will be primarily used to supply prospective distribution partners and licensees and their respective government regulators with test samples for review and evaluation. XPhyto’s PCR test advantage over others is its rapid speed (25 minute results) and portability, as well as ease of use. They are ideal to be used for pop-up testing sites in any location. They can be done as either a nasal swab test or an oral swab test making it easy to administer.

XPhyto CEO Hugh Rogers stated:

“We are confident that Covid-ID Lab, as a 25-minute PCR test with minimal technical and personnel requirements, will be a stand-out product in the COVID-19 test market.”

If this proves to be correct we could potentially expect large product orders to start rolling in during 2021. Subject to the various regulatory approvals being successful, XPhyto expects to hold a European sales launch in April 2021. XPhyto is also currently in discussions with potential distribution and wholesale partners in Europe and the Middle East.

Assuming success in the above steps, XPhyto should be looking at potential revenues beginning in 2021.

XPhyto’s Point-of-Care rapid and portable diagnostic PCR test for COVID-19

Source

XPhyto’s psychedelics therapies for neurodegenerative diseases

On February 3, 2021 XPhyto announced a Psychedelic Pharmaceutical Production Agreement with Applied Pharmaceutical Innovation (‘Applied’) for the synthesis of pharmaceutical grade psychedelic compounds and the parallel development of the standard operating procedures necessary to obtain regulatory approval for the respective commercial production process. Applied is a not-for-profit institution at the University of Alberta created to support translational drug development for industry and innovators. This adds to XPhyto’s 2020 development agreement for the industrial production of psilocybin with a leading German university, as well as the addition of mescaline production. XPhyto plans to expand its psychedelic programs in 2021, including scalable production of pharmaceutical grade compounds, drug formulations, and clinical evaluation.

XPhyto state: “Psychedelic compounds are a highly promising new class of drugs with strong potential for the treatment of mental health related medical conditions such as depression, anxiety, addiction, and trauma-related stress disorder.” They are also said to be useful for pain management and palliative care. Psychedelics are legal in the Netherlands and recently Canada approved 17 healthcare professionals to possess and use the psychedelic active ingredient psilocybin to conduct professional training in psilocybin therapy. Data Bridge Market Research forecasts that the global psychedelics market will grow from USD 2.077B in 2019 to USD 6.859B by 2027.

Other areas for XPhyto

Also of interest is that XPhyto and 3a are developing a portfolio of oral biosensor screening tests for detection of bacterial and viral infectious diseases. Additional pandemic-focused biosensors are in development. XPhyto is planning the commercial launch of its first biosensor product in the second half of 2021. This looks to be a very exciting area with huge potential.

The other area XPhyto is active in is innovative drug delivery methods such as transdermal patches and oral dissolvable films designed for efficient and affordable delivery of approved neurological medications. Again another innovative area where there is a significant need.

Closing remarks

Innovation in the medical world can have an exponential impact on smaller companies if they have a big success. XPhyto has a reasonable chance to hit a home run – Perhaps from their leading portable 25 minute COVID-19 PCR test, from psychedelics therapies, from their oral biosensor products or from their innovative drug delivery products.

XPhyto Therapeutics Corp. certainly has a lot going on and trades on a market cap of C$171M.




XPhyto Therapeutics Hugh Rogers on the fastest and most portable PCR test available

In a recent InvestorIntel interview, Peter Clausi spoke with Hugh Rogers, CEO and Director of XPhyto Therapeutics Corp. (CSE: XPHY | OTCQB: XPHYF) about XPhyto’s rapid point-of-care COVID-19 PCR test system which is very close to commercialization.

In this InvestorIntel interview, which may also be viewed on YouTube (click here to subscribe to the InvestorIntel Channel), Hugh went on to speak on the different types of COVID-19 tests out of which, he said, “PCR test is the gold standard of diagnostics.” He added that XPhyto’s PCR test is less invasive as it is oral and requires minimal equipment and training. The test has been optimized for speed and portability. “What we have designed is we believe to be the fastest and most portable PCR test available…”

To watch the full interview, click here

About XPhyto Therapeutics Corp.

XPhyto Therapeutics Corp. is a bioscience accelerator focused on next-generation drug delivery, diagnostic, and new active pharmaceutical ingredient investment opportunities, including precision transdermal and oral dissolvable drug formulations; rapid, low-cost infectious disease and oral health screening tests; and standardization of emerging active pharmaceutical ingredients for neurological applications, including psychedelic compounds and cannabinoids. The Company has research and development operations in North America and Europe, with an operational focus in Germany, and is currently focused on regulatory approval and commercialization of medical products for European markets.

To learn more about XPhyto Therapeutics Corp., click here

Disclaimer: XPhyto Therapeutics Corp. is an advertorial member of InvestorIntel Corp.




XPhyto Therapeutics moving forward from successful prototype testing of saliva virus test

Non-invasive test can detect viral RNA in asymptomatic patients

XPhyto Therapeutics Corp. (CSE: XPHY | OTCQB: XPHYF | FSE: 4XT) (“XPhyto”) is a next generation bioscience company with a rapid pathogen screening systems division, including a new, non-invasive coronavirus saliva test. This is an important addition to rest of their businesses which includes advanced drug delivery systems (Vektor Pharma) and cannabis investments (Vektor Pharma & Bunker).

XPhyto’s core business is drug delivery, diagnostic, and cannabis investment opportunities focused on European markets, especially Germany.

Source: Company presentation

XPhyto’s rapid pathogen screening systems

XPhyto is focused on developing rapid, low-cost, screening tools for pandemic threats. The company, along with their diagnostic partner 3a-Diagnostics GmbH (“3a”), has recently become better known for their COVID-19 RNA testing. The XPhyto team is developing a rapid, disposable, point-of-screening test to detect COVID-19 viral RNA from patient saliva as well as more traditional nasal and throat swabs. On July 6, 2020, XPhyto announced successful validation of its working test prototype. The test, as observed and reported by clinicians and scientists in peer reviewed publications, demonstrated a detection limit capable of identifying viral RNA in the saliva of symptomatic, pre-symptomatic, and asymptomatic patients. Subject to fast track certification by the German government, XPhyto and 3a are targeting Q1 2021 for European regulatory approval and commercial sales.

Being able to detect coronavirus early in patients with no symptoms has been identified as a key factor in halting the spread. A saliva-based test is another huge advantage due to the ease of testing compared to the current nasal swab testing, which can range from uncomfortable to painful.

The technology behind the new test will also be suitable for other types of coronaviruses in the long term. XPhyto and 3a are also in the process of developing rapid screening tests for other pandemic threats, including H1N1 (swine flu) and H5N1 (avian flu), with a specific focus on identifying early pre-symptomatic stages of infection.

XPhyto’s advanced drug delivery systems

XPhyto owns Vektor Pharma, a German narcotics manufacturer, importer and researcher. Vektor Pharma is a decade-long leader in design, testing and manufacture of thin film drug delivery systems including transdermal patches, oral dissolvable film (ODF), sub-lingual (oral) strips for the clinical management of pain, and an ODF biosensor delivery platform. Vektor Pharma currently holds numerous narcotics import and manufacturing licenses, including cannabis imports and authorizations related to conventional and cannabis-related prescription medications.

XPhyto’s cannabis investments

XPhyto also 100% owns Bunker. Bunker has a unique German cannabis cultivation and extraction license for scientific purposes. Subject to BfArM (the Federal Institute for Drugs and Medical Devices) security requirements, the license authorizes cultivation and extract of 70 different strains of Cannabis Sativa and Cannabis Indica for scientific purposes.

XPhyto also has an exclusive LOI and standstill agreement for cooperation in the field of development, production, and distribution of new cannabis-infused beverages and products with the famous German brewery Oettinger. Oettinger beer is not only one of the best selling beers in Germany, it is also internationally recognized as one of the largest brewery groups in the world.

XPhyto Therapeutics Corp. is well-placed in key emerging industries

Source: Company presentation

Closing remarks

XPhyto is an innovator in the increasingly important fields of virus detection and drug delivery systems, including the vital area of  mass rapid pathogen screening testing. Added to that, it has some exciting cannabis related investments, particularly with Bunker in Germany. XPhyto also has R&D collaborations with the technical University of Munich and the University of Alberta.

For investors, XPhyto Therapeutics Corp. trades on a market cap of C$165m and the stock is up an impressive 132% in the past  year. While a non-invasive COVID-19 saliva test that can detect the virus in both symptomatic and asymptomatic patients would have immediate and obvious benefits, it could also have long-term applicability to other pathogens going forward. Added to XPhyto’s carefully curated suite of other diagnostic, drug delivery and cannabis licenses, it makes it a company to watch.




Rapid and accurate testing the key to a return to normalcy

And here are three companies working on it.

Imagine a global pandemic caused by a new virus. Apparently it has been around for 6, 8 or 10 months and may or may not have come from China (depending on which expert is talking on any given day).

The symptoms are multiple (and variable and inconsistent between infected people, or so it seems) and the test for it is a long nasal swab inserted into your body that is uncomfortable at best but usually quite painful.

Then imagine that the test results (none of which may be accurate) take 2-6 days and may come back as:

  • Positive
  • Negative
  • False Positive
  • False Negative

Oh, and apparently, there is also a blood test for antibodies which would tell you if you had the virus… but actually there are many (unreliable) blood tests that may produce the same range of four results as above.

Exhausted yet? We all are, as the current pandemic has set the world on its ear, crippled the global economy and created an undeniable environment of fear.

However, there are glimmers of hope for accurate testing which would allow the world to get back to an almost pre-virus life. Instead of waiting days for suspect results, companies are focusing on technology using quick, accurate, inexpensive and technologically proven procedures that do not require highly trained staff or expensive equipment.

Three Canadian public companies are at the forefront of developing these new, non-invasive, technology driven coronavirus tests that will be accurate, eliminate (mostly) the need for that sketchy nasal swab, and provide nearly instant, accurate results.

Sixth Wave Innovations Inc. (CSE: SIXW | OTCQB: ATURF)

The newest entrant in the public markets, Sixth Wave began trading in February 2020 after a previous merger with another public company and subsequent financings, etc.  Current market capitalization is approximately C$26 million.

Sixth Wave is a development stage nanotechnology company with patented technologies that focus on extraction and detection of target substances at the molecular level using highly specialized Accelerated Molecularly Imprinted Polymers (AMIPs). Since every substance has a unique size, shape and chemical properties, these attributes can be utilized at the individual molecule level to create highly efficient adsorption/detection media to solve problems that cannot be solved with conventional means.

What does this mean? In simple terms, they can detect anything at the molecular level and this technology has already been successfully deployed in both the cannabis and gold mining industries. In practical terms, by using AMIPs, Six Wave’s technology could be used to detect COVID-19 in airborne, water and wastewater environments. Further, successful development of their technology could also be rolled out to provide accurate, almost immediate testing for the coronavirus in individuals.

Sixth Wave (along with its partners) recently received approval from the Natural Sciences and Engineering Research Council of Canada to advance virus detection technology testing using AMIP. Successful testing could optimistically be completed before year-end with an available product possible for market in early 2021. A publicly available product could be as simple as a face mask that changes colour if positive for COVID-19.

Sona Nanotech Inc. (CSE: SONA | OTCQB: SNANF)

Sona Nanotech is a well-established public company whose technology development of gold nanorods started back in 2013. The company went public in 2018 and has a current market capitalization of approximately C$677 million, although this has jumped dramatically since February 2020 as a result of the coronavirus pandemic.

Gold nanorods have multiple uses, but the potential for providing near-instant results has very much excited the market. Using lateral flow assay technology testing (comparable to a home pregnancy test), a positive or negative test for coronavirus can be determined without the need for specialist lab equipment or operators. In April 2020, Sona tested a working prototype of the test in a hospital laboratory environment with live, COVID-19 patient samples, achieving positive results. Further testing is underway and of course government approvals will be required

The company’s analytical test still requires the dreaded nasal swab for the evaluation source material, but results should be more accurate and available in minutes.

XPhyto Therapeutics Corp. (CSE: XPHY | OTC: XPHYF | FSE: 4XT)

Originally created for the cannabis industry, Xphyto Therapeutics has subsidiaries in Alberta and in Germany. Established in late 2017, the company went public in mid-2019 and has a current market capitalization of approximately C$190 million. The company had a strong share price prior to the coronavirus pandemic due to its other products, but application of related technology has caught the market’s attention.

Since starting in the cannabis space, the company has branched out in Germany with strategic acquisitions/development agreements in diagnostics and therapeutic films. In part due to the arrival of the coronavirus pandemic, the company first initiated an infectious diseases program in February 2020 which was directly transferable to developing a low-cost, “real time” oral pathogen screening platform for COVID-19 in March 2020. By July, the company had confirmed successful function of its proprietary COVID-19 RNA probes and its universal coronavirus RNA probes in prototype lateral flow assay testing. Visual confirmation of test results was observed in five to seven minutes.

Short of an actual vaccine, rapid and accurate testing continues to be the Holy Grail in the world-wide response to COVID-19 and the key to a return to economic and social normalcy. These are among the companies to watch with innovative testing technologies.