Oakville, Ontario--(Newsfile Corp. - August 13, 2024) - FendX Technologies Inc. (CSE: FNDX) (OTCQB: FDXTF) (FSE: E8D) (the "Company" or "FendX"), a nanotechnology company developing surface protection coatings is pleased to announce the publication of results from research conducted at McMaster University demonstrating that its AI-enhanced nanotechnology detects bacterial contamination at 96.7% accuracy on surfaces. This data was peer reviewed and accepted for publication on July 30, 2024 in "Advanced Functional Materials"1.
Carolyn Myers, President and CEO of FendX, stated, "This AI-enhanced pathogen detection nanotechnology is derived from of our current nanotechnology licensed from McMaster." Dr. Myers continues, "This technology demonstrated reliable identification of pathogen contamination and with further development may prove beneficial for infection prevention and control in healthcare settings by enabling early contamination detection."
This nanotechnology is an enhancement of FendX's licensed spray formulation covered under the license agreement announced on May 17, 2023, and the collaborative research agreement announced on July 20, 2023. This surface coating, which incorporates bromothymol blue and bromocresol green, transitions from blue to green-yellow to indicate bacterial biofilm formation. For precise contamination detection, it employs AI machine learning that demonstrates 100% sensitivity and 95% accuracy.
The Company also announces the resignation of Andrea Mulder as COO effective August 30, 2024. The Company would like to thank Ms. Mulder for her service and wishes her well in her future endeavors.
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 exclusive worldwide licenses to its technology and IP portfolio from McMaster, which encompass both film and spray coating nanotechnology formulations.
ON BEHALF OF FENDX TECHNOLOGIES INC.
"Carolyn Myers" Carolyn Myers Chief Executive Officer and Director
Contacts: Dr. Carolyn Myers, President, CEO and Director 1-800-344-9868 investor@fendxtech.com
For more information, please visit https://fendxtech.com/ and the Company's profile on SEDAR+ at www.sedarplus.ca.
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.
Forward-Looking Statements
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 nano-spray formulation; statements regarding further development of the nanotechnology; the Company's believe that it may prove beneficial for infection prevention and control in healthcare settings by enabling early contamination detection; 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 stage of development; limited operating history; product candidates may require regulatory approvals; 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.
