Burlington, Ontario--(Newsfile Corp. - June 25, 2024) - Rapid Dose Therapeutics Corp. ("RDT" or the "Company") trading on the Canadian Securities Exchange ("CSE") under the symbol DOSE is pleased to announce the recent award of a Mitacs Accelerate grant, with a value of $30,000 in May 2024 in addition to $55,000 in 2023, to continue the development of Thin Polymer Films for Vaccine Delivery Project, led by Prof. Alex Adronov, of McMaster University.
This grant-funded research project aims to support further formulation development and proof-of-concept studies to develop the capability to vaccinate individuals leveraging RDT's QuickStrip™ Oral Thin Film ("OTF") technology. This funding allows for the continuation of the work of a post-doctoral fellow as a member of the Adronov Research Group, for an additional eight months. The first stage of this project was initiated in July 2021, and the award in the amount of $55,000 is the final installment of a previously awarded grant.
Previously, the initial phase of research led by Prof. Alex Adronov had demonstrated that the RDT QuickStrip™ technology is effective at encapsulating and releasing biomolecules and m-RNA loaded lipid nanoparticles. The current funding aims to advance this work by demonstrating mRNA transfection to living cells, where mRNA delivery is made possible by RDT's QuickStrip™ technology. This work will pave the way for buccal or sublingual vaccine delivery, eliminating the need for costly and unpleasant intramuscular injections. In addition, investigation of thermal stability of active ingredients within the OTF is underway, which will help alleviate the need for cold-chain storage and transport of these delivery constructs. The project has further evolved to study a variety of biomolecules where formulation optimization and various proof of concept experiments, both in vitro and in vivo, are under way.
Mark Upsdell, CEO of RDT said "RDT QuickStrip™ technology is a game changer for countries where health care delivery is inconsistent, cold chain logistics issues are difficult to overcome and environment issues of disposal make vaccine by needle programs inefficient and expensive. Our rewarding partnership with McMaster University has been going since 2019. We appreciate the ongoing support received from Mitacs, enabling continued research efforts to alleviate many challenges associated with vaccine distribution and administration by creating a robust, convenient, and easily administered delivery system for vaccines."
McMaster University research team lead Dr. Alex Adronov, PhD adds, "We are pleased to be able to continue this line of research into exciting new directions for vaccine delivery and are grateful to both Mitacs and RDT for the support."
Mitacs is a not-for-profit organization that fosters growth and innovation in Canada by solving business challenges with research solutions from academic institutions.
The Company is not making any express or implied claims that its product has the ability to eliminate, cure or contain infectious diseases, such as Covid-19 (or SARS-2 Coronavirus) at this time.
About Rapid Dose Therapeutics Corp. Rapid Dose Therapeutics is a Canadian biotechnology company revolutionizing drug delivery through innovation. The Company's flagship product QuickStrip™ is a thin, orally dissolvable film, that can be infused with an infinite list of active ingredients, including nutraceuticals, pharmaceuticals and vaccines, that are delivered quickly into the bloodstream, resulting in rapid onset of the active ingredient. For more information about the Company, visit www.rapid-dose.com.
Certain information in this news release may contain forward-looking information within the meaning of applicable securities laws. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-Looking statements are often identified by terms such as "may", "should", "anticipate", "expect", "potential", "believe", "intend", "will", "could", "are planned to", "are expected to" or the negative of these terms and similar expressions. Statements containing forward-looking information, including, without limitation, in respect of the delivery of equipment and products using the QuickStrip™ product delivery method, the generation of recurring revenues, the plans, estimates, forecasts, projections, expectations or beliefs of RDT management as to future events or results and are believed to be reasonable based on information currently available to RDT management. Forward-Looking statements necessarily involve known and unknown risks, including, without limitation, risks associated with general economic conditions; adverse industry events; marketing costs; loss of markets; termination of WLM agreements; future legislative and regulatory developments involving cannabis; inability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favorable terms; the cannabis industry in Canada generally, income tax and regulatory matters; the ability to implement its business strategies; competition; currency and interest rate fluctuations and other risks. Readers are cautioned that the foregoing list is not exhaustive. There can be no assurance that statements of forward-looking information, although considered reasonable by RDT management at the time of preparation, will prove to be accurate as there can be no assurance that the plans, intentions, or expectations upon which they are based will occur. Actual results and future events could differ materially from those anticipated in such forward-looking statements. Readers should not place undue reliance on forward-looking statements. Forward-Looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release, and the Company expressly disclaims any obligation to update or alter statements containing any forward-looking information, or the factors or assumptions underlying them, whether as a result of new information, future events or otherwise, except as required by law.
