Business
Pond Announces Publication in Nature Scientific Reports of Successful Production of Recombinant Protein Results and Provides Update on Biotech Division
MARKHAM, ON / ACCESSWIRE / May 10, 2022 / Pond Technologies Holdings Inc. ("Pond") (TSXV:PON...
About this update from Pond Technologies Holdings Inc.
[{"type":"text","content":"Pond Announces Publication in Nature Scientific Reports of Successful Production of Recombinant Protein Results and Provides Update on Biotech DivisionMARKHAM, ON / ACCESSWIRE / May 10, 2022 / Pond Technologies Holdings Inc. (\"Pond\") (TSXV:POND); (OTCQB:PNDHF); (FSE:400), an ESG company addressing global sustainability challenges of wellness and climate change, is pleased share successful results related to the production of recombinant proteins published in the scientific journal Nature Scientific Reports and is providing an update on the Pond Biotech project announced in the fall of 2021 with a major Fortune 500 oil and gas company. As part of the project, Pond has been scaling up the production of recombinant proteins. Pond has received approximately $230,000 in payments to date for milestones achieved and the initial research agreement. Pond has now completed the initial scale-up, including bioreactor designs and growth protocols.Since the beginning of 2022, Pond has been making weekly deliveries of recombinant proteins to the project consortium for testing. This material has been able to prove that algae-grown recombinant proteins perform as well as conventionally produced proteins in diagnostic tests. Results of these trials were recently published in the scientific journal Nature Scientific Reports and is available here: https://www.nature.com/articles/s41598-022-11053-7. Nature Scientific Reports is the 6th most-cited journal in the world, with more than 540,000 citations in 2020, and receives widespread attention in policy documents and the media1.Under the current license agreement with the Fortune 500 oil and gas company, Pond expects to receive a further $850,000 in milestone payments in 2022 and is now positioned to enter a commercial supply contract by the end of this year.Grant Smith, President & CEO at Pond said: \"This peer reviewed journal article supports our view that algae can be a low-cost micro-factory for the production of recombinant proteins, with applications in medical diagnostics, antibody therapeutics, and vaccine manufacture. We expect to complete this project and continue to grow revenues from our biotech division in 2023.\"1https://www.nature.com/srep/aboutAbout Pond Technologies Holdings Inc.:Located in Markham, Ontario, Pond Technologies has developed a proprietary system that can profita...