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Pond Technologies Inc. Announces Execution of a Scale Up and Technology Access Agreement with a North American Fortune 500 Company
Pond Technologies Inc. Announces Execution of a Scale Up and Technology Access Agreement ...
About this update from Pond Technologies Holdings Inc.
[{"type":"text","content":"\n \n \n \n Pond Technologies Inc. Announces Execution of a Scale Up and Technology Access Agreement with a North American Fortune 500 Company\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n Revolutionizes Production of Complex Proteins for Diagnostics and Therapeutics\n \n \n Including Antigens Required for COVID-19 Diagnostic Tests\n \n \n \n MARKHAM, ON,\n \n Aug. 10, 2021\n \n /CNW/ - Pond Technologies Holdings Inc. (the \"\n \n Corporation\n \n \" or \"\n \n Pond\n \n \") (TSXV: POND), (OTCQB: PNDHF) an ESG company addressing global sustainability challenges of climate change and nutrition, is pleased to announce that it has today executed a commercial agreement with a major Canadian oilsands producer and fortune 500 company to grow covid-19 antigens that are expressed from a unique strain of algae. These antigens will be used for rapid diagnostic testing. As part of this agreement, Pond will collect up to CAD\n \n $1 Million\n \n in milestone payments and success fees over the next 8 months:\n \n $150,000\n \n on signing, and the balance on achieving production volume and quality milestones.\n \n \n This agreement will develop commercial production capacity for the antigens required for a COVID-19 rapid diagnostic test. Pond is working to conclude a commercial supply agreement with a manufacturer of the diagnostic test kits that will use the recombinant proteins or antigens manufactured by Pond. As part of this agreement, Pond also expects to be able to enter into commercial agreements to sell antigens and/or antibodies from genetically modified algae to generate additional revenue.\n \n \n The use of micro-algae to produce medical therapeutics is expected to have significant technical advantages over current methods of production that use genetically modified yeast, bacteria, or mammalian cell lines. Algae are just as easy to genetically engineer as these other organisms, but they offer two important distinct advantages:\n \n \n \n Micro-Algae are more forgiving and c...