FinancialBuzz.com News Commentary
NEW YORK, Sept. 24, 2020 /PRNewswire/ -- The pandemic has drastically reshaped the global social and economic landscape. Countries have shut down schools and businesses, restricted travel, postponed entertainment and sporting events, and are still encouraging the public to stay at home as much as possible. Responses from businesses were abundant as well; several biotechs, as well as medical device companies, have made announcements about vaccines that are being developed or testing kits entering production. As for vaccines, the Food and Drug Administration is expected to specify tough new standards for an emergency authorization of a potential vaccine that will make it difficult for any vaccine to be cleared before Election Day. According to the Washington Post, "The agency is issuing the guidance to boost transparency and public trust as it approaches the momentous decision of whether a prospective vaccine is safe and effective. The stakes are high: polls show the relentless politicization of the race to develop a vaccine is taking its toll." Optec International, Inc. (OTC: OPTI), Vystar Corp. (OTC: VYST), TPT Global Tech, Inc. (OTC: TPTW), Oragenics, Inc. (NYSE: OGEN), iBio Inc. (NYSE: IBIO)
As a result of the pandemic, there have been major innovations in disinfection technology. For example, this week, based on its recent analysis of the global healthcare room disinfection devices market, Frost & Sullivan recognized Xenex with the 2020 Global Company of the Year Award for being at the frontline of the fight against the virus with its LightStrike Germ-Zapping Robots. Frost & Sullivan indicates that the robots are powered by a patented technology that sends intense UV light across the entire germicidal spectrum (200 to 315 nanometers), the LightStrike destroys even the most challenging pathogen in a 5-minute cycle. And, overall, the global UV disinfection equipment market was valued at USD 1.3 Billion in 2019 and is projected to reach USD 5.7 Billion by 2027 while growing at a CAGR of 17.1% from 2020 to 2027, according to Allied Market Research.
Optec International, Inc. (OTC: OPTI) announced breaking news yesterday that, "it has secured a $5,000,000+ funding approval with California based RB Capital Partners, Inc. ("RB Capital"). RB Capital has agreed to provide funding to the Company in the form of premium to market 12 month promissory notes. The minimum amount of funding that RB Capital has agreed to provide to the Company under these terms is $5,000,000 payable during the next three to six months period.
The proceeds will be used for further development, increased production, and distribution of a suite of UV-C sanitization products that the Company can't keep on the shelves due to increased demands. Currently, a prominent San Diego school district has deployed the touchless temperature scanners in addition to the Rover room sanitizers, and the Company is in talks with other local school districts to help safely re-open in person tuition. The company is also in discussion with a popular non-profit fitness organization to help safely re-open indoor activities.
Optec International CEO stated, 'The application and potential implementation of the company's UV-C sanitization and pre-emptive "Safe-Scan" touchless temperature scanning products are endless. We are very excited to offer this effective combination of non-toxic sterilization and temperature scanning technology to the world and are pleased to have engaged with a long-term funding partner who clearly understands the vision of the Company.'"
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Vystar Corp. (OTCQB: VYST) announced back in August that it has engaged Strategic Link Assoc. to manage the supply chain, logistics and manufacturing of Vystar's Rx3000®, a hybrid ultraviolet (UV) light and HEPA filter air purification system that is FDA certified as a Class II Medical Device, designed for use in healthcare facilities. The relationship with Strategic Link and its supply and manufacturing network enables significantly increased production capacity to meet the growing demand for RXair® purification products that reduce airborne viruses and bacteria, such as coronavirus strains, influenza and pneumonia. "As facility managers work to ensure the air in their facilities is safe, we are fielding requests for far more Rx3000 units than we could produce in-house," stated Steve Rotman, CEO of Vystar. "Strategic Link has brought together high quality, experienced suppliers and manufacturers who are considered essential businesses and have continued operations during the COVID shutdown. This will enable us to have a reliable supply chain and a top quality finished product that is 'Made in the USA'."
TPT Global Tech, Inc. (OTCQB: TPTW) reported back in August that it has entered into a non exclusive distribution sales and marketing agreement with Allstar Health Brands Inc. a Miami based pharmaceutical and nutritional supplements company. "It is very exciting to have AllStar Health join our distribution channel to expand our sales and marketing reach for our TPT MedTech products and services.," says Stephen Thomas CEO of TPT Global Tech.
Oragenics, Inc. (NYSE: OGEN) announced back in July that the National Institutes of Health (the "NIH") created stabilized pre-fusion spike protein (CoV-2 S-2P) licensed by the Company has generated neutralizing antibodies in mice during immunization against SARS-CoV-2, the virus that causes COVID-19. The NIH's preclinical study shows that this spike protein, adjuvanted with the TLR-4-agonist Sigma Adjuvant System (a TLR-4 agonists that induces T cell activation), generates neutralizing antibody titers in both a pseudovirus neutralization assay and a plaque reduction neutralization titer (PRNT) assay. In addition, this immunization produced a balanced Th1/Th2 response. "We are delighted that our licensed SARS-CoV-2 spike protein has been shown to hold promise in the creation of a COVID-19 vaccine, and believe this research affirms our development strategy with the Company's lead vaccine candidate, Terra CoV2," said Alan Joslyn, Ph.D., President and Chief Executive Officer of Oragenics. Dr. Joslyn continued, "We are particularly pleased to see a balanced Th1/Th2 response, which is one of the most critical parameters used to assess both safety and efficacy of this vaccine candidate. TerraCoV2 is currently undergoing development and we anticipate conducting Phase 1 human clinical studies in early 2021."
iBio Inc. (NYSE: IBIO) reported earlier this month that it has selected IBIO-201, its LicKM™-ubunit vaccine, as its leading candidate for the prevention of SARS-CoV-2 infection. iBio previously announced that preclinical immunization studies with IBIO-200 and IBIO-201, combined with select adjuvants from the Infectious Disease Research Institute ("IDRI"), induced anti-SARS-CoV-2 antibodies. Additional data from cell-based pseudovirus neutralization assay testing demonstrate that IBIO-201 induced the production of more anti-spike neutralizing antibodies than IBIO-200 in immunized mice. "Our decision to evaluate IBIO-200 and IBIO-201 in tandem, and in combination with multiple adjuvants, proved beneficial given the results observed with IBIO-201 in preclinical studies," said Tom Isett, Chairman & CEO of iBio. "While IBIO-201 produced significantly higher anti-spike neutralizing antibody titers than IBIO-200, we are still encouraged by the potential of IBIO-200."
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