Initial Prototypes of the Portable, Disposable Devices for the Lateral Flow COVID-19 Test Have Been Produced
NEW YORK, NY and SAN DIEGO, CA, July 28, 2020 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Aegea Biotechnologies, Inc. (“Aegea”) ( www.aegeabiotech.com),a biotechnology company focused on the development and commercialization of next generation nucleic-acid diagnostic technologies, announces progress on the development of its Point-of-Care (“POC”) COVID-19 diagnostic test. As described in a previous announcement, Aegea is currently developing two different COVID-19 diagnostic tests. Each applies technology from different issued Aegea patents. One is a PCR-based SARS-CoV-2 test (the “SARS-CoV-2 Test”), and the other is a POC test that is designed to be widely accessible by providing results within 30 minutes using a small, portable device, without the requirement for complex instrumentation (“Lateral Flow COVID-19 Test”). These COVID-19 diagnostic tests are being developed under the collaboration agreement with Tauriga Sciences Inc. (OTCQB: TAUG) (“Tauriga”).
Aegea has produced the initial prototypes of the portable, disposable devices for the Lateral Flow COVID-19 Test. Initial testing of the device has been successful. The Lateral Flow COVID-19 Test device is designed to collect saliva samples directly into a small disposable unit and to use microfluidics to automatically move the sample and reagents into a central processing chamber within the device to perform the capture and isothermal amplification of certain nucleic-acid targets associated with the SARS-CoV-2 virus (COVID-19). The results are planned to be read-out visually within about 30 minutes.
Importantly, to continue to expedite the development and commercialization of the Lateral Flow COVID-19 Test, Aegea has hired Dr. George Maltezos as Chief Engineer. Dr. Maltezos is a PhD electrical engineer and entrepreneur. He previously served as Director of the California Institute of Technology (“Caltech”) Global Health Initiative where he helped secure $4.5 Million of funding from the Bill & Melinda Gates Foundation (“Gates Foundation”) under their Grand Challenges Program for a Point-of-Care Clinical Diagnostics Solution for Developing Countries. Previously, Dr. Maltezos was Founder & Chief Engineer of Helixis, Inc. and launched the Eco real-time PCR device, enabling accessible, best-in-class, nucleic acid amplification. Helixis was acquired in 2010 by Illumina Inc. for $105 million. Dr. Maltezos is an inventor or co-inventor on 19 issued US patents, and he earned his Ph.D. in Electrical Engineering from the California Institute of Technology and his BS from Columbia University.
“We are very pleased with the progress we are making on our point of care, lateral flow coronavirus test,” said Lyle Arnold, Ph.D., Aegea’s President and CEO. “Our isothermal, lateral flow test can be transformational because it should make coronavirus testing significantly more accessible and convenient by utilizing saliva samples combined with very simple devices for amplification and detection. Furthermore, Dr. Maltezos has the ideal knowledge and experience to lead the development of this point-of-care test.”
Tauriga’s CEO, Mr. Seth Shaw, states, “Tauriga is delighted with Aegea’s progress and innovation. We have already received strong interest regarding the lateral flow coronavirus test, and we believe the test will address an urgent market need and potentially be a tool for helping to control disease spread.”
ABOUT AEGEA BIOTECHNOLOGIES, INC.
Aegea Biotechnologies, Inc., located in San Diego, California, is a biotechnology company focusing on the development and commercialization of next generation nucleic acid technologies. A primary focus for the company is nucleic acid technology innovations that embrace molecular diagnostic assays, qPCR technologies, sequencing methods including both Sanger and NGS, and rapid point-of-care COVID-19 testing.
ABOUT TAURIGA SCIENCES INC.
Tauriga Sciences, Inc. (TAUG) is a revenue generating, diversified life sciences company, engaged in several major business activities and initiatives. The company manufactures and distributes several proprietary retail products and product lines, mainly focused on the Cannabidiol (“CBD”) and Cannabigerol (“CBG”) Edibles market segment. The main product line, branded as Tauri-Gum™, consists of a proprietary supplement chewing gum that is both Kosher certified and Vegan formulated (CBD Infused Tauri-Gum™ Flavors: Mint, Blood Orange, Pomegranate) & (CBG Infused Tauri-Gum™ Flavor: Peach-Lemon). The Company’s commercialization strategy consists of a broad array of retail customers, distributors, and a fast-growing E-Commerce business segment (E-Commerce website: www.taurigum.com). Please visit our corporate website, for additional information, as well as inquiries, at www.tauriga.com
Complementary to the Company’s retail business, are its two ongoing biotechnology initiatives. The first one relates to the development of a Pharmaceutical grade version of Tauri-Gum™, for nausea regulation (specifically designed to help patients that are subjected to ongoing chemotherapy treatment). On March 18, 2020, the Company announced that it filed a provisional U.S. patent application covering its pharmaceutical grade version of Tauri-Gum™. The Patent, filed with the U.S.P.T.O. is Titled “MEDICATED CBD COMPOSITIONS, METHODS OF MANUFACTURING, AND METHODS OF TREATMENT”. The second one relates to a collaboration agreement with Aegea Biotechnologies Inc. for the co-development of a rapid, multiplexed, Novel Coronavirus (COVID-19) test with superior sensitivity and selectivity.
The Company is headquartered in New York City and operates a regional office in Barcelona, Spain. In addition, the Company operates a full time E-Commerce fulfillment center located in LaGrangeville, New York.
DISCLAIMER -- Forward-Looking Statements
This press release contains certain “forward-looking statements” as defined by the Private Securities Litigation Reform Act of 1995 which represent management’s beliefs and assumptions concerning future events. These forward-looking statements are often indicated by using words such as “may,” “will,” “expects,” “anticipates,” believes, “hopes,” “believes,” or plans, and may include statements regarding corporate objectives as well as the attainment of certain corporate goals and milestones. Forward-looking statements are based on present circumstances and on management’s present beliefs with respect to events that have not occurred, that may not occur, or that may occur with different consequences or timing than those now assumed or anticipated. Actual results may differ materially from those expressed in forward looking statements due to known and unknown risks and uncertainties, such as are not guarantees of general economic and business conditions, the ability to successfully develop and market products, consumer and business consumption habits, the ability to consummate successful acquisition and licensing transactions, fluctuations in exchange rates, and other factors over which Tauriga has little or no control. Many of these risks and uncertainties are discussed in greater detail in the “Risk Factors” section of Tauriga’s Form 10-K and other filings made from time to time with the Securities and Exchange Commission. Such forward-looking statements are made only as of the date of this release, and Tauriga assumes no obligation to update forward-looking statements to reflect subsequent events or circumstances. You should not place undue reliance on these forward-looking statements.