Sixth Wave Provides Corporate Update
Halifax, Nova Scotia – (February 14, 2022) – Sixth Wave Innovations Inc. (CSE:SIXW) (OTCQB:SIXWF) (FSE:AHUH) (“Sixth Wave” or the “Company”) is pleased to provide an update on the progress of its corporate initiatives.
Sixth Wave Innovations Inc is positioned for 2022 to be a pivotal year in which we look to commercialize our technologies as the world emerges into the new normal. Our scientists made significant and marketable advances to each of our Molecularly Imprinted Polymer technologies. I will concentrate my update on accomplishments that moved the Company toward near and mid-term revenue.
Affinity™ (Cannabis Purification)
Sixth Wave engaged an industry-leading extraction equipment company (Advanced Extraction Systems Inc.) as our manufacturing partner. Significant improvements and maturation of the system resulted in the development and construction of scalable systems designed to meet industrial production requirements. Major accomplishments included:
- Upgraded Affinity™ system performance:
- Eliminates winterization
- Maximizes solubility of solution and adsorption of nano beads
- Operates at room temperature and atmospheric pressure
- Improved OPEX
- Improved safety
- Minimized solvent requirements
- Upgraded Nano bead performance
- Improved selectivity improves product purity
- Improved loading capacity reduces cycle time
- Improved bead durability lowers replacement costs.
- 90% OPEX improvement vs chromatography
- 50% OPEX improvement vs standard distillation
- 93-95% Full spectrum purity
- Compared to Distillation at 85%
- 98% Recovery
- Compared to Distillation at 80%
- Fully automatic continuous operation lowers labor costs
- Completed Discovery System
- Allows live process demonstration and pre-delivery configuration testing on customer site
- Supports Multiple Process Applications
- Full Spectrum THC or THCA distillates
- Full Spectrum CBD distillates (T-compliant and T-Free)
- Can be used with crude extracts or distillates requiring further refinement
- Developed methods for pesticide remediation
- Agreements in place for delivery of four machines
- Initial installment to act as a demonstration facility
- Affinity™ beads fully manufactured and tested for initial production machines with in-house production capability to beads for three systems monthly
IXOS®-AuC (Gold Recovery)
- Rio2 Fenix Gold project
- Pilot Test showed significant advantages at the laboratory scale
- 2nd phase on-site testing ongoing in Chile
- Cost-benefit analysis based on results scheduled for March 2022
- CTRI “green” mining technology
- IXOS® recovered 98% of gold in test solution
- Reduced OPEX by recycling reagents and reduced energy usage
- GlyCat™, lixiviant mixture reduced cyanide usage by 90%
- IXOS® /GlyCat™ deemed commercially viable green lixiviant technology
- Independent lab-confirmed eco-toxicity testing level at zero
- Research partners included top 5 global mining companies
ESG (Environmental, Social, and Governance) continues to be a growing focus of the global mining and investment communities. The fast, efficient, and clean qualities of IXOS® support these socially responsible objectives.
Sixth Wave is in various stages of testing with numerous mines and is in negotiation for several large-scale projects. One or more are expected to contract over the next few months.
AMIPS™ for Virus/Bacteria Detection
- New technology with significant and demonstrated advantages
- Ready to begin configuring first products for clinical trials
- Development cycle completed in just over 16 months
- Commencement of setting tests as well as personal use tests
- Contract development with 3 major pharmaceutical companies interested in distribution, partnering, and license agreements
The AMIPS™ platform has been specifically designed to allow for simple and fast configuration to detect both viruses and bacteria. Based on independently published studies, the Company believes that continued widespread testing for COVID-19 will remain in effect for the foreseeable future. AMIPS™ addresses the entire human and animal medical diagnostic market and is not limited to COVID-19.
Corporate Planning and Maturation
Last year we began a process of expanding and maturing the Governance of the Company. This included developing an Advisory Board with experience and connectivity in key areas. The impact of the Advisory Board led to a maturation of the Board of Directors to include more independent directors with expanded capability in Government, relevant industry relations as well as financial markets.
The filing of the Short Form Prospectus will provide the Company with a fully transparent and vetted mechanism providing legal and financial due diligence to prospective partners and financiers. These partners will:
- Bulk up manufacturing capability and inventory of the Affinity™ equipment in preparation for deliveries in Feb-April of this year to begin revenue generation (based on already signed agreements).
- Support the productization of the AMIPS™ virus/bacteria detection technology into two target products and fund the clinical trials necessary for product sale.
- Support the scale-up of IXOS® facilities as successful pilot plant testing is completed in Q1.
Thank you for your continued support.
Dr. Jonathan Gluckman
Sixth Wave Innovations Inc.
About Sixth Wave
Sixth Wave is a nanotechnology company with patented technologies that focus on extraction and detection of target substances at the molecular level using highly specialized Molecularly Imprinted Polymers (MIPs). The Company is in the process of a commercial rollout of its Affinity™ cannabinoid purification system, as well as, IXOS®, a line of extraction polymers for the gold mining industry. The Company is in the development stages of a rapid diagnostic test for viruses under the Accelerated MIPs (AMIPs™) label.
Sixth Wave can design, develop and commercialize MIP solutions across a broad spectrum of industries. The company is focused on nanotechnology architectures that are highly relevant for the detection and separation of viruses, biogenic amines, and other pathogens, for which the Company has products at various stages of development.
For more information about Sixth Wave, please visit our website at: www.sixthwave.com
ON BEHALF OF THE BOARD OF DIRECTORS
Jonathan Gluckman, Ph.D., President & CEO
For information, please contact the Company:
Phone: (801) 582-0559
E-mail: [email protected]
This press release includes certain statements that may be deemed “forward-looking statements” including statements regarding the performance of the IXOS®, Affinity™, and AMIPs™ technologies. All statements in this release, other than statements of historical facts, that address future events or developments that the Company expects, are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual events or developments may differ materially from those in forward-looking statements. Such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause the Company’s actual performance and financial results in future periods to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. In particular, successful development and commercialization of the IXOS®, Affinity™, or AMIPs™ technologies are subject to risk that they may not prove to be successful, uncertainty of medical product development, uncertainty of timing or availability of required regulatory approvals, lack of track record of developing products for certain applications and the need for additional capital to carry out product development activities. The value of any products ultimately developed could be negatively impacted if patents are not granted. The Company has not yet applied for regulatory approval for the use of this product from any regulatory agency.