VANCOUVER, BC / ACCESSWIRE / January 6, 2023 / Gemina Laboratories Ltd. (CSE:GLAB)(FRA:8I7) (the "Company" or "Gemina") is pleased to announce the completion of its influenza A/B rapid test prototype. The Company announced its intention to develop an influenza diagnostic in Q2 of 2022, using Gemina's unique chemistry platform.
Demand for tests for influenza and other common illnesses has been growing significantly as health care providers seek to distinguish between diseases with common symptoms. In the post-pandemic era, consumers are also demanding greater control over their health status, creating substantial global demand for low-cost diagnostic tools that can be self-administered.
After an extensive antibody screening program, Gemina Laboratories, in partnership with RAPIvD, has completed the development of an influenza A/B rapid test prototype (the Gemina Benchmark Test) for internal benchmarking studies to further demonstrate the performance improvements imparted by the Gemina chemistry platform.
The Gemina Benchmark Test is designed using the traditional Lateral Flow Assay ("LFA") format commonly found in the rapid COVID tests used throughout the pandemic. The Gemina Benchmark Test has been shown to reliably detect multiple strains of whole influenza A and influenza B viruses in artificial nasal fluid-spiked samples on a single test strip with no cross-reactivity between flu A and B. The Benchmark will now enter the optimization phase, followed by pre-clinical performance evaluation with patient samples.
Once performance evaluation is complete, the Gemina Benchmark Test will be put through a series of head-to-head performance evaluation studies against the same test built using Gemina's proprietary immobilization chemistry. This will be a true direct comparison between our proprietary LFA design and the industry standard LFA design. The resultant data will provide a direct measure of the improvements imparted by the Gemina technology in comparison to standard LFAs.
Indeed, preliminary comparative studies utilizing the Gemina immobilization chemistry indicate the potential to reduce antibody usage by 6-8 times, while maintaining equivalent sensitivity to the traditional design. Since the majority of LFA tests use expensive antibodies to capture the virus and allow for detection on the test strip, this potential large reduction in antibody use represents a substantial benefit in terms of both cost reduction and improved supply chain security.
The next steps for the further integration of the Gemina chemistry platform into our panel of upcoming diagnostic products will be provided in the CEO's strategy update to be released this month.
Brian Firth, Gemina CEO, commented "This is a very significant milestone for our company because the successful completion of this prototype confirms Gemina's chemistry platform can support rapid test development for a range of respiratory diseases. The course is now set for Gemina to make a major contribution to the management of the burden of global respiratory health challenges."
The Company is also pleased to announce that it has entered into an investor relations agreement with Bristol Capital Ltd. ("Bristol") to provide investor relations and communication services. Bristol has been retained for an initial term of twelve (12) months, with automatic renewal, subject to early termination under certain circumstances. The Company will pay between $7,000 and $14,000 per month, depending upon the level of service provided during the service period.
On Behalf of the Board of Directors
Gemina Laboratories Ltd.
About Gemina Laboratories Ltd.
Gemina Labs is a biosensor and diagnostic company with a transformative, patented, proprietary chemistry that powers next-generation testing platforms for a wide range of pathogens that affect human health and wellness. Our technology drives testing platforms that are fast, affordable and accurate, and easily self-administered. Our development pipeline includes platforms for the rapid testing of COVID-19, influenza and other viruses. Additional information on the Company can be found at www.geminalabs.com.
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this Release.
Forward Looking Statements
This news release includes forward-looking information and statements, which may include, but are not limited to, information and statements regarding or inferring the future business, operations, financial performance, prospects, and other plans, intentions, expectations, estimates, and beliefs of the Company. Such statements include statements regarding the anticipated terms of any proposed transaction or engagement. Information and statements which are not purely historical fact are forward-looking statements. Forward-looking information and statements involve and are subject to assumptions and known and unknown risks, uncertainties, and other factors which may cause actual events, results, performance, or achievements of the Company to be materially different from future events, results, performance, and achievements expressed or implied by forward-looking information and statements herein. Although the Company believes that any forward-looking information and statements herein are reasonable, in light of the use of assumptions and the significant risks and uncertainties inherent in such information and statements, there can be no assurance that any such forward-looking information and statements will prove to be accurate, and accordingly readers are advised to rely on their own evaluation of such risks and uncertainties and should not place undue reliance upon such forward-looking information and statements. Furthermore, the Company is presently unable to fully quantify the impact that the Covid-19 pandemic will have on its operations and recognizes that certain eventualities may affect planned or assumed performance moving forward. As such, any forward-looking information and statements herein are made as of the date hereof, and except as required by applicable laws, the Company assumes no obligation and disclaims any intention to update or revise any forward-looking information and statements herein or to update the reasons that actual events or results could or do differ from those projected in any forward looking information and statements herein, whether as a result of new information, future events or results, or otherwise, except as required by applicable laws.
For more information regrading the Company, please contact:
Brian Firth, CEO
SOURCE: Gemina Laboratories Ltd.