NEW YORK, Oct. 20, 2020 /PRNewswire/ -- The pandemic continues to take a toll on the world's economy, and as a result, effective and cheap mass testing is needed to properly implement preventive measures. Since the pandemic has begun, three companies have gained authorization from the Food and Drug Administration (FDA) to sell antigen testing instruments to labs or clinics. Additionally, a fourth company, Abbott Laboratories, has also been granted approval to market a specific USD 5 rapid test administered by a health care professional. Yet, there are no tests that were approved to be sold directly to consumers. In addition, due to increasing awareness amongst consumers on hygiene and preventive healthcare, the global surface disinfectant market is anticipated to grow significantly in the coming years. And, according to MarketsandMarkets, the global infection control market is expected to reach USD 21.06 Billion by 2022 from USD 15.35 Billion in 2017 while at a CAGR of 6.5%. The research indicates that the increasing use of e-beam sterilization, rising importance of single-use medical nonwovens and medical devices are further increasing the demand for disinfection and sterilization products and services. PCT Ltd. (OTC: PCTL), Vystar Corp. (OTC: VYST), RELIEF THERAPEUTICS Holding AG (OTC: RLFTF), iBio Inc. (NYSE: IBIO), Oragenics, Inc. (NYSE: OGEN)
MarketsandMarkets also indicates that most chemical disinfectants currently available in the market have toxic properties. For example, sodium hypochlorite is an effective treatment against blood-borne pathogens but is also highly corrosive and a respiratory irritant, which makes it dangerous to cleaning personnel and building occupants, damaging to many surfaces, and toxic when released into the environment. This is where new technologies come into play. For instance, earlier last month, based on its recent analysis of the global healthcare room disinfection devices market, Frost & Sullivan recognized Xenex with the 2020 Global Company of the Year Award for being at the frontline of the fight against the virus with its LightStrike Germ-Zapping Robots. Frost & Sullivan indicates that the robots are powered by a patented technology that sends intense UV light across the entire germicidal spectrum (200 to 315 nanometers), the LightStrike destroys even the most challenging pathogen in a 5-minute cycle.
PCT Ltd. (OTC: PCTL) just announced breaking news that, "it has received $400,000 in funding from California based RB Capital Partners, Inc. ("RB Capital"). RB Capital has provided funding to the Company in the form of two 12-month premium-to-market convertible notes. The notes accrue interest at 5% per annum, are convertible at a rate of $0.20 per share and do not include any ratchet clauses or warrant coverage. The entire $400,000 investment has been received by the Company as of October 16, 2020.
The proceeds will be used for further development, increased production, and distribution of a suite of technologies and products aimed at the prevention and treatment of infectious disease including but not limited to the coronavirus. The Company's patented systems and safe fluid products are providing hospitals and the healthcare industry at large with cutting edge disinfecting and decontaminating solutions that combat microbial infection.
PCT Ltd. CEO, Gary Grieco, stated, 'We are incredibly pleased to announce our funding partnership with RB Capital. They are the long-term funding partner we have been looking for which will enable us to execute on both our short- and long-term goals.' Grieco further comments, 'Now we are able to get ahead of the orders we're receiving by purchasing the necessary inventory to serve our distributors, their customers and our U.K. partners, building our equipment inventory to more quickly meet demand.'
About PCT Ltd: PCT LTD ("PCTL") focuses its business on acquiring, developing and providing sustainable, environmentally safe disinfecting, cleaning and tracking technologies. The company acquires and holds rights to innovative products and technologies, which are commercialized through its wholly-owned operating subsidiary, Paradigm Convergence Technologies Corporation (PCT Corp). Currently trading on OTC:PINK, "PCTL" is actively engaged in applying for listing its common stock to the OTC QB market. The Company established entry into its target markets with commercially viable products in the United States and now continues to gain market share in the U.S. and U.K."
Vystar Corp. (OTCQB: VYST) reported in August that it has engaged Strategic Link Assoc. to manage the supply chain, logistics and manufacturing of Vystar's Rx3000®, a hybrid ultraviolet (UV) light and HEPA filter air purification system that is FDA certified as a Class II Medical Device, designed for use in healthcare facilities. The relationship with Strategic Link and its supply and manufacturing network enables significantly increased production capacity to meet the growing demand for RXair® purification products that reduce airborne viruses and bacteria, such as coronavirus strains, influenza and pneumonia. "As facility managers work to ensure the air in their facilities is safe, we are fielding requests for far more Rx3000 units than we could produce in-house," stated Steve Rotman, CEO of Vystar. "Strategic Link has brought together high quality, experienced suppliers and manufacturers who are considered essential businesses and have continued operations during the COVID shutdown. This will enable us to have a reliable supply chain and a top quality finished product that is 'Made in the USA'."
RELIEF THERAPEUTICS Holding AG (OTCQB: RLFTF) reported last week topline results from 45 patients assessed in an open-label prospective study where 21 patients admitted to an intensive care unit (ICU) with critical COVID-19 and respiratory failure were treated with RLF-100™(aviptadil) and compared to 24 control patients treated in the same setting. All patients had severe comorbidities that rendered them ineligible for the ongoing randomized controlled phase 2b/3 trial being conducted to ascertain safety and efficacy of RLF-100™, and all patients were deteriorating despite treatment with approved therapies for COVID-19. "We are encouraged by these initial results in highly comorbid patients with COVID-19 respiratory failure, and we are pleased that the majority of these patients have returned safely to their families. We look forward to the upcoming results from the randomized, double-blind, prospective trial in less severely comorbid patients for confirmation of these results," said Jihad Georges Youssef, MD, section chief of General Academic Pulmonary Medicine at the Houston Methodist Hospital, who serves as the study's principal investigator at Houston Methodist and also serves as national co-chair for the ongoing randomized controlled trial.
iBio Inc. (NYSE: IBIO) reported earlier last month that it has selected IBIO-201, its LicKM™-ubunit vaccine, as its leading candidate for the prevention of SARS-CoV-2 infection. iBio previously announced that preclinical immunization studies with IBIO-200 and IBIO-201, combined with select adjuvants from the Infectious Disease Research Institute ("IDRI"), induced anti-SARS-CoV-2 antibodies. Additional data from cell-based pseudovirus neutralization assay testing demonstrate that IBIO-201 induced the production of more anti-spike neutralizing antibodies than IBIO-200 in immunized mice. "Our decision to evaluate IBIO-200 and IBIO-201 in tandem, and in combination with multiple adjuvants, proved beneficial given the results observed with IBIO-201 in preclinical studies," said Tom Isett, Chairman & CEO of iBio. "While IBIO-201 produced significantly higher anti-spike neutralizing antibody titers than IBIO-200, we are still encouraged by the potential of IBIO-200."
Oragenics, Inc. (NYSE: OGEN) announced back in July that the National Institutes of Health (the "NIH") created stabilized pre-fusion spike protein (CoV-2 S-2P) licensed by the Company has generated neutralizing antibodies in mice during immunization against SARS-CoV-2, the virus that causes COVID-19. The NIH's preclinical study shows that this spike protein, adjuvanted with the TLR-4-agonist Sigma Adjuvant System (a TLR-4 agonists that induces T cell activation), generates neutralizing antibody titers in both a pseudovirus neutralization assay and a plaque reduction neutralization titer (PRNT) assay. In addition, this immunization produced a balanced Th1/Th2 response. "We are delighted that our licensed SARS-CoV-2 spike protein has been shown to hold promise in the creation of a COVID-19 vaccine, and believe this research affirms our development strategy with the Company's lead vaccine candidate, Terra CoV2," said Alan Joslyn, Ph.D., President and Chief Executive Officer of Oragenics. Dr. Joslyn continued, "We are particularly pleased to see a balanced Th1/Th2 response, which is one of the most critical parameters used to assess both safety and efficacy of this vaccine candidate. TerraCoV2 is currently undergoing development and we anticipate conducting Phase 1 human clinical studies in early 2021."
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