Companies Plan to Commercialize
Breath-Based Detection of Lung Infection and
Transplant Rejection
TORONTO, Jan. 24, 2022 /CNW/ - SQI Diagnostics Inc. ("SQI"
or the "Company") (TSXV: SQD) (OTCQB: SQIDF), leaders in the
science of lung health who develop and manufacture respiratory
health and precision medicine tests, is pleased to announce a
Memorandum of Understanding ("MOU") between SQI and Owlstone
Medical to work together on the discovery, development and
commercialization of breath-based biomarkers relating to
invasive aspergillus lung infection and lung
transplant rejection.
Owlstone Medical, the global leader in Breath Biopsy®
for applications in early disease detection and precision medicine,
is a Cambridge, UK company with
the vision to save 100,000 lives by realizing the enormous promise
of breath-based diagnostics.
Fungal lung infection is a large risk for certain vulnerable
people such as transplant patients, where one-year survival
rates for invasive aspergillosis following lung transplant is only
59 per cent. This is largely because antifungal therapies are not
appropriate for patients who are on immunosuppressants, and so
early and reliable diagnosis of fungal infection is critical.
The current gold-standard diagnostic procedures for lung
transplant rejection require the regular collection of tissue
samples from the lung, which is invasive, expensive and can lead to
serious complications. There is therefore a clear need for a better
solution. Owlstone Medical's non-invasive Breath Biopsy platform
represents a better approach to current methods, which alongside
SQI's deep experience in lung transplant diagnostics will be used
to identify and deploy novel breath-based biomarkers that can
indicate early rejection of organs in lung transplant patients.
"With SQI's strategic interest in lung transplant biomarkers,
we're excited to collaborate with Owlstone in applying the
discovery, development and commercialisation of biomarkers of acute
cellular rejection and perhaps chronic rejection," said
Andrew Morris, President and CEO of
SQI Diagnostics. "This MOU can help further establish SQI's
leadership in commercialising diagnostic testing for healthcare
professionals and patients as we extend SQI's diagnostics across
the continuum of care for organ transplant patients."
Highlights of the MOU include:
- Owlstone Medical is conducting independent clinical trials to
validate breath-based volatile organic compounds to diagnose
Invasive Aspergillosis with high levels of performance.
- SQI and Owlstone Medical will agree on the most appropriate
regulatory strategy for the tests and, as necessary, liaise with
the appropriate regulatory authorities to seek approval of the
breath collector as a medical device and/or the approval of the
lung transplant rejection in vitro diagnostic test (IVD).
- Owlstone Medical will own and patent any inventions arising
from the lung transplant rejection discoveries and offer an
exclusive, worldwide license to SQI to commercialise the biomarkers
for clinical use. SQI will undertake reasonable commercial efforts
to develop and commercialise the lung transplant rejection
test.
This non-binding MOU is intended to be used for negotiation
purposes only, and to express the present intention of the parties
with respect to the terms and conditions of a proposed relationship
between the parties. The MOU does not constitute a binding
commitment, or an offer to enter a binding
commitment.
About SQI Diagnostics
SQI Diagnostics are leaders in
the science of lung health. We develop and manufacture respiratory
health and precision medicine tests that run on SQI's fully
automated systems. Our tests simplify and improve COVID19 antibody
monitoring, Rapid Acute Lung Injury testing, donor organ transplant
informatics, and immunological protein and antibody testing.
We're driven to create and market life-saving testing technologies
that help more people in more places live longer, healthier
lives. For more information, please visit
www.sqidiagnostics.com.
About Owlstone Medical (www.owlstonemedical.com)
Owlstone Medical's vision is to save 100,000 lives by realizing the
enormous promise of breath-based diagnostics through the
development and application of Breath Biopsy®. The
Breath Biopsy platform includes ReCIVA®, a proprietary
sample collection device that can take stable breath samples
anywhere, the world's only commercial Breath Biopsy Laboratory
located in Cambridge, U.K. with
support through our office in Research
Triangle Park, NC, USA, and the development of the world's
largest Digital Breath Biobank matched to patient phenotype.
Owlstone Medical is deploying the platform to address some of
the key challenges of 21st century healthcare. The focus is on the
development of Tests and RUO Panels for the early detection of
disease with an emphasis on cancer, and on precision medicine with
liver and respiratory disease of particular importance. The Breath
Biopsy OMNI (Owlstone Medical Novel Insights) Assay is Owlstone
Medical's comprehensive solution for end-to-end breath sample
collection and VOC analysis, which is being deployed with large
pharma including AstraZeneca, Actelion Pharmaceuticals (a J&J
company), and GlaxoSmithKline, and leading academic institutions.
Owlstone Medical's technology is currently in use at over 100 sites
worldwide.
Contact:
Morlan
Reddock
Chief Financial Officer
437-235-6563
mreddock@sqidiagnostics.com
FORWARD-LOOKING INFORMATION
This news release contains certain forward-looking
statements, including, without limitation, statements containing
the words "will", "may", "expects", "intends", "anticipates" and
other similar expressions which constitute "forward-looking
information" within the meaning of applicable securities laws.
Forward-looking statements reflect the Company's current
expectation and assumptions, and are subject to a number of risks
and uncertainties that could cause actual results to differ
materially from those anticipated. The forward-looking statements
in this news release include without limitation, statements with
respect to the Private Placement, the Debenture Repayment and the
use of proceeds of the Private Placement. These forward-looking
statements are qualified in their entirety by the inherent risks
and uncertainties surrounding future expectations. Important
factors that could cause actual results to differ materially from
expectations include, but are not limited to, risks related to the
failure to obtain necessary regulator and stock exchange approvals
for the Private Placement, general economic and market factors,
competition, the development and commercialization of the Company's
diagnostics tests, the effect of the global pandemic and consequent
economic disruption, and the factors detailed in the Company's
ongoing filings with the securities regulatory authorities,
available at www.sedar.com.
Although the forward-looking statements contained herein are
based on what we consider to be reasonable assumptions based on
information currently available to us, there can be no assurance
that actual events, performance or results will be consistent with
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be incorrect. Readers are cautioned not to place undue reliance on
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This news release does not constitute an offer to sell or a
solicitation of an offer to sell any of the securities in
the United States. The securities
have not been and will not be registered under the U.S. Securities
Act or any state securities laws and may not be offered or sold
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SOURCE SQI Diagnostics Inc.