October 26, 2023 (Source) — FendX Technologies Inc. (CSE: FNDX) (OTCQB: FDXTF) (FSE: E8D) (the “Company” or “FendX“) a nanotechnology company developing surface protection coatings, is pleased to announce that the Company and nanoComposix, LLC (“nanoComposix“), a Fortis Life Sciences Company, have signed a Master Services Agreement (the “Agreement“) and a first work order dated October 25, 2023 for scale-up development of FendX’s spray nanotechnology.
Dr. Carolyn Myers, CEO of FendX states, “We are pleased with the development progress we are making with our spray nanotechnology formulation with McMaster since licensing it in May 2023 and are now ready to commence the next phase of scale-up development work which includes the involvement of a third-party manufacturer. Working with an experienced nanomaterials company like nanoComposix will provide us with the expertise to further our development milestones and advance the spray formulation with the aim of producing larger-scale batches for testing.” Dr. Myers continues, “We are committed to advancing our spray-on coating nanotechnology, which we believe is an important part of our pipeline of products under development, as a potential spray product could be easier to apply to many surfaces and expand our potential market applications.”
FendX’s spray-on coating nanotechnology under development is a protective surface coating that has demonstrated not only repelling properties the same as for our REPELWRAP™ film, but also has been shown to kill residual pathogens. Both our film and spray nanotechnology have been shown to prevent the adhesion of pathogens, bacteria and viruses, reducing their transmission on surfaces prone to contamination. The spray nanotechnology was licensed from McMaster University pursuant to a license agreement dated May 16, 2023.
Founded in 2004, nanoComposix is a Fortis Life Science company headquartered in San Diego, CA, USA. nanoComposix was built with the mission of providing precisely engineered and highly characterized nanomaterials to a global customer base. Our product portfolio contains hundreds of different variants of materials, size, shape, and surface backed by extensive technical documentation and support. Contract manufacturing is performed on scales that range from beakers to thousands of liters. Nanomaterials for medical devices and clinical trials are produced in ISO 13485 and cGMP compliant cleanrooms. Development services are provided by a technical team with extensive expertise in nanotechnology, biology, chemistry, physics, and optics. Utilizing a unique library of nanomaterials, nanoComposix helps bring nanotechnology-enabled products from conception to commercialization.
About FendX Technologies Inc.
FendX is a Canada-based nanotechnology company focused on developing products to make people’s lives safer by reducing the spread of pathogens. The Company is developing both film and spray products to protect surfaces from contamination. The lead product under development, REPELWRAP™ film, is a protective surface coating film that, due to its repelling properties, prevents the adhesion of pathogens and reduces their transmission on surfaces prone to contamination. The spray nanotechnology is a bifunctional spray coating being developed to reduce contamination on surfaces by repelling and killing pathogens. The Company is conducting research and development activities using its nanotechnology in collaboration with industry-leading partners, including McMaster University. The Company has an exclusive worldwide license to its technology and IP portfolio from McMaster, which encompass both film and spray coating nanotechnology formulations.
ON BEHALF OF THE BOARD
Chief Executive Officer and Director
Dr. Carolyn Myers, CEO and Director
Alyssa Barry, Investor Relations
Neither the Canadian Securities Exchange nor the Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains certain forward-looking statements within the meaning of Canadian securities legislation, including with respect to: the plans of the Company; statements regarding the spray formulation and development efforts; the Company’s statements regarding development work with nanoComposix to advance the spray technology, production of larger-size batches and testing of its spray-on nanotechnology; statements regarding the Company’s beliefs that the spray technology is an important part of its pipeline of products under development as a potential spray product which could be easier to apply to many surfaces and expand its potential market applications; and products under development and any pathogen reduction benefits related thereto. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are statements that are not historical facts; they are generally, but not always, identified by the words “expects,” “plans,” “anticipates,” “believes,” “intends,” “estimates,” “projects,” “aims,” “potential,” “goal,” “objective,” “prospective,” and similar expressions, or that events or conditions “will,” “would,” “may,” “can,” “could” or “should” occur, or are those statements, which, by their nature, refer to future events. The Company cautions that forward-looking statements are based on the beliefs, estimates and opinions of the Company’s management on the date the statements are made and involve several risks and uncertainties. Consequently, there can be no assurances that such statements will prove to be accurate and that actual results and future events could differ materially from those anticipated in such statements.
Important factors that could cause future results to differ materially from those anticipated in these forward-looking statements include: product candidates only being in formulation/reformulation stages; limited operating history; research and development activities; dependence on collaborative partners, licensors and others; effect of general economic and political conditions; and other risk factors set forth in the Company’s public filings which are available on SEDAR+ at www.sedarplus.ca. Accordingly, the reader is urged to refer to the Company’s such filings for a more complete discussion of such risk factors and their potential effects. Except to the extent required by applicable securities laws and the policies of the Canadian Securities Exchange, the Company undertakes no obligation to update these forward-looking statements if management’s beliefs, estimates or opinions, or other factors should change.