-- Conditional Approval Makes Quick, Precise
Test for Presence of Antibodies to
SARS-CoV-2 Available in the US --
TORONTO, March 3, 2022 /CNW/ - SQI Diagnostics Inc. ("SQI"
or the "Company") (TSXV: SQD) (OTCQB: SQIDF), leaders in the
science of lung health, announced today that New York State Department of Health (NYSDOH)
has given conditional approval to its diagnostic testing partner,
KSL Diagnostics, Inc. in Buffalo
NY, for the EXACT COVID-19 Antibody Test.
"The EXACT COVID-19 Antibody Test is the next generation of
tools in the fight against COVID-19. It gives peace of mind because
it can detect an immune response in both vaccinated and previously
COVID-19 infected people. It also has the potential to give
the health care system key insights and data into the relationship
between antibody levels and breakthrough infections and
reinfections," says Andrew Morris,
CEO of SQI Diagnostics. "We're bringing these tests to market now
because we are determined to do our part to end the pandemic."
NYSDOH, under the Clinical Laboratory Evaluation Program,
evaluates and authorizes lab-developed tests for use in
New York State certified clinical
laboratories, which are subject to requirements equal to or more
stringent than the Clinical Laboratory Improvement Amendments of
1988 (CLIA). "KSL is proud to partner with SQI in delivering this
test and is licensed to test specimens from anywhere in
the United States," says
Kevin Lawson, President and CEO of
KSL.
Access to the EXACT COVID-19 Antibody Test will now be available
to physicians and their patients in the
United States through AZOVA Inc, a telemedicine testing
company that makes healthcare accessible and affordable to
Americans through innovative solutions.
The EXACT COVID-19 Antibody Test is an advanced COVID-19
antibody test that provides semi-quantitative measurements of six
distinct antibodies produced by the immune system in response to
exposure to the SARS CoV-2 virus or to COVID-19 vaccination. The
small volume blood sample can be collected in a home or office
setting with a fingerstick. A positive test result could indicate
the presence of antibodies arising from a prior COVID-19 infection
or COVID-19 vaccination.
"The EXACT COVID-19 Antibody Test is a key part of SQI's growing
ability to offer unparalleled clinical insight through varied and
improved COVID-19 testing," said Morris. "We currently sell Health
Canada-approved testing kits for SARS-CoV-2 RT-PCR molecular
testing and point of care antigen testing products, which enable
rapid serial testing of asymptomatic populations. We have also
filed with Health Canada — for review under the Interim Order
—SQI's RALI-Dx IL-6 test, a hospital-based respiratory triage test
for COVID-19 positive patients."
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 AZOVA
AZOVA is a globally connected Digital
Health System providing telehealth and digital health services
through globally connected provider, pharmacy, and laboratory
networks. AZOVA provides innovative COVID testing and
vaccination solutions for employers, schools, government entities,
airlines, the travel industry, and the consumer. AZOVA has
created the world's first truly connected global laboratory network
to enable travelers to access COVID testing anywhere in the
world. For more information, visit azova.com.
About KSL Diagnostics
KSL (www.ksldx.com) operates
New York State Department of
Health / CLIA certified clinical laboratories licensed throughout
the US, including Beutner Laboratories and the Robert Guthrie
Laboratory. The rapidly expanding menu integrates standard of care
tests and novel assays, developed at KSL and through partnership
with innovative diagnostic companies. KSL provides superlative
regulatory compliance and industry-leading standards of
service.
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
these forward-looking statements, and our assumptions may prove to
be incorrect. Readers are cautioned not to place undue reliance on
these forward-looking statements. The Company undertakes no
obligation to publicly update or revise any forward-looking
statements either as a result of new information, future events or
otherwise, except as required by applicable laws.
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
within the United States or to
U.S. persons unless registered under the U.S. Securities Act and
applicable state securities laws or an exemption from such
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policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.
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SOURCE SQI Diagnostics Inc.