NEW YORK, June 23, 2020 /PRNewswire/ -- Under current conditions, many companies in various industries have had to find a niche from which to benefit. In fact, social distancing and disinfecting have become elevated to necessities in several industries, which previously may not have had strong growth prospects. For example, health technology device companies are benefiting from testing kits and other devices necessary to treat or diagnose patients. Meanwhile, several biotechnology companies are anticipated to have results on potential new vaccines. And companies manufacturing disinfecting and sanitizing products have largely benefited from the recent spike in demand. Hand sanitizers were growing in popularity even before the events of this year, however consumers around the world are now taking up more stringent preventive measures to control outbreaks of various diseases. Sanitizers can be an effective tool for disinfecting hands when not near washing facilities, as the high concentration of alcohol can also kill virus particles. And according to data published by Allied Market Research, the global hand sanitizer market size was valued at USD 919 Million in 2016 and is expected to reach USD 1,755 Million by 2023 all the while expanding at a CAGR of 9.9% from 2017 to 2023. Mag One Products Inc. (OTC: MGPRF) (CSE: MDD), iBio, Inc. (NYSE: IBIO), Aytu BioScience, Inc. (NASDAQ: AYTU), OPKO Health, Inc. (NASDAQ: OPK), Vaxart, Inc. (NASDAQ: VXRT)
While biotech companies report work on vaccines and possible treatments and medical device companies progress on patient monitoring, many others have been working on improving testing options. For example, back in April, Rutgers University researchers had received U.S. government clearance for the first saliva test to help diagnose the virus, which is a new approach that could help expand testing options and reduce the risks of infection for healthcare workers. According to a report by the Associated Press, Andrew Brooks, who directs the Rutgers lab that developed the test, explained that the test "prevents health care professionals from having to actually be in the face of somebody that is symptomatic." The Rutgers lab can currently process 10,000 patient samples per day, according to Brooks. It is important to note that in the authorization letter to Rutgers, the FDA specified that the test should only be performed "in a health care setting under the supervision of a trained health care provider." As of right now, the FDA did not approve any tests for use at home, yet several companies have reported that such tests are being developed.
Mag One Products Inc. (OTC: MGPRF) (CSE: MDD) just announce breaking news that, "It has signed a Consulting agreement with MiAnna Consulting & Design Inc (MiAnna)
MiAnna will be leading and responsible for the for the following deliverables:
- Rebrand Vera Clean products for the North American Market;
- Lead and manage all logistics for the delivery, production and sales of all Vera Clean
products in North America; - Lead and manage all regulatory requirements for the production, sale and distribution of
Vera Clean products in North America; - additional services as may be mutually agreed by the Contractor and the Company in
writing.
The term of this Agreement shall be thirty- six months from the effective date (July 1, 2020) hereof with automatic annual renewal unless otherwise stated in writing 30 days prior to anniversary date. Unless the contracted tasks are completed and a mutually agreed upon termination is executed.
MiAnna will receive three million common shares of the Company issued in advance for the term of the contract.
The execution of the contract and engagement is subject to the completion of the MOPI's due diligence and signing of the Master Licensing / Distribution Agreement with Vera Clean Products."
About MiAnna Consulting and Design
MiAnna Consulting and Design provides marketing, rebranding, logistics, and other business related services. MiAnna has the expertise and experience to quickly step the Vera Clean product line through the various regulatory requirements in Canada and the US.
Tony Louie, President and CEO of Mag One, said the following: "We are excited to be working with MiAnna. We are confident in MiiAnna and its ability to successfully guide the plant based, eco-friendly Vera Clean product line through the regulatory requirements in Canada and the US. We want consumers to have access to safe and effective disinfectants and hand sanitizers in the fight against all the viral and bacterial agents that the Vera line addresses."
About Vera Clean - VERA produces safe, multi-purpose highly potent plant-based disinfectants, sanitizers, concentrates and other solution formulations with a unique paramagnetic efficacy that both cleans and starves bacteria from multiplying on surfaces
The Transformative Cleaning power of VERA products cleans soiled and dirty surfaces, including fabrics, through its deep penetrating cleansing action that dissolves and purges soiling and contaminants.
Effective cleaning with VERA products offers 99.9% of hygiene requirements and is most suited in quelling the transmutation of bacteria into superbugs that host viruses that have been increasingly occurring in today's world and environment https://www.veraclean.com.au/
On behalf of the Board, "Tony Louie", President & CEO, Mag One Products Inc.
About Mag One Products Inc. - Mag One Products Inc. is a technology, processing & production company. Mag One Products aims to be the most environmentally friendly & sustainable producer of Industrial Products. For further information or questions respecting the Company kindly contact the Company via email at: info@MagOneProducts.com. Additional information can be found on the Company's website at www.MagOneProducts.com or by viewing the Company's filings at www.sedar.com. "
iBio, Inc. (NYSE: IBIO) announced back in April this month the signing of two Master Services Agreements and a Memorandum of Understanding with the Infectious Disease Research Institute ("IDRI") in support of iBio's SARS-CoV-2 Virus-Like Particle ("VLP") vaccine development. Under the MSAs, IDRI will support pre-clinical development and provide clinical trial oversight, while iBio will provide process development and manufacturing services to IDRI, as needed. Additionally, the MoU calls for iBio and IDRI to establish a separate, additional agreement within the next 60 days if the Company opts to include one of IDRI's novel adjuvants in the vaccine development program ("IBIO-200"). The MSAs and the MoU integrate IDRI into iBio's collaboration with the Texas A&M University System to create a strong partnership that brings deep experience and advanced technologies and capabilities to the task of moving IBIO-200 into the clinic.
Aytu BioScience, Inc. (NASDAQ: AYTU) announced earlier this month that the U.S. Food and Drug Administration (the "FDA") has published data from the National Cancer Institute's (NCI) Frederick National Laboratory for Cancer Research, and its evaluation of the a Rapid Test distributed by the Company. A well-characterized panel of 30 confirmed SARS-CoV-2 antibody positive, and 80 SARS-CoV-2 antibody-negative samples collected prior to 2020 were tested in an independent validation study performed by the NCI. 96.7% and 100% sensitivity were estimated for IgG and IgM, respectively. 97.5% and 100% specificity were estimated for IgG and IgM, respectively. Furthermore, combined sensitivity and specificity were 100% and 97.5%, respectively.
OPKO Health, Inc. (NASDAQ: OPK) announced in April that it will continue to prioritize testing for hospital inpatients and critically ill patients around the country. "Our goal is to maintain the current 24-hour turnaround time for these patients," said Jon R. Cohen, M.D., Executive Chairman of BioReference Laboratories. "Nothing is more important than getting a timely result back to the medical personnel on the front lines making treatment decisions on a minute-to-minute basis." "Multiple types of hospitals, for-profit, not-for-profit, large health systems, individual hospitals, academic medical centers, and community hospitals have all reached out to get their results in a timely fashion. We have now tested almost 200,000 patients and will continue to grow our capacity from 20,000 tests/day to 35,000 tests/day within the next week. While prioritizing hospital patients, at the same time we will continue to strive to keep our current turnaround time for non-hospital patients at 2-3 days from the time we receive the specimen," said Dr. Cohen.
Vaxart, Inc. (NASDAQ: VXRT) a clinical-stage biotechnology company developing oral recombinant vaccines that are administered by tablet rather than by injection, announced back in May that it has selected its lead vaccine candidate and has contracted with KindredBio to manufacture bulk vaccine under cGMP to complement the manufacturing capacity of partner Emergent BioSolutions. Sean Tucker, Ph.D., chief scientific officer of Vaxart. "In a phase 2 efficacy study that was recently published in the Lancet Infectious Diseases, we have demonstrated that our oral H1 flu tablet vaccine protected against influenza infection after just one dose. Based on these results, we believe our vaccines are ideal to protect against mucosal respiratory viruses such as SARS-CoV-2."
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