MARKHAM, ON / ACCESSWIRE / May 10, 2022 / Pond Technologies Holdings Inc. (“Tin”) (TSXV: POND); (OTCQB: PNDHF); (FSE: 400), an ESG company addressing the global challenges of sustainability of well-being and climate change, is pleased to share the positive results related to the production of recombinant proteins published in the scientific journal Scientific reports on nature and provides 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 stepped up production of recombinant proteins. Pond has received approximately $ 230,000 in milestone payments and the initial research agreement to date. Pond has now completed the initial scale-up, including bioreactor designs and growth protocols.
Since early 2022, Pond has been making weekly deliveries of recombinant proteins to the project consortium for testing. This material was able to show that recombinant proteins grown from algae behave like conventionally produced proteins in diagnostic tests. The results of these studies were recently published in the scientific journal Scientific reports on nature and is available here: https://www.nature.com/articles/s41598-022-11053-7. Scientific reports on nature is the sixth most cited magazine in the world, with over 540,000 citations in 2020, and receives wide attention in political documents and in the media1.
Under the current licensing agreement with the Fortune 500 oil and gas company, Pond expects to receive an additional $ 850,000 in milestone payments in 2022 and is now positioned to enter into a commercial supply agreement by the end of this year.
Grant Smith, President and CEO of Pond said: “This peer-reviewed journal article supports our view that algae may be a low-cost microfactory for the production of recombinant proteins, with applications in medical diagnostics, antibody therapy and vaccine manufacturing. complete this project and continue to grow our biotech division’s revenues in 2023 “.
About Pond Technologies Holdings Inc .:
Located in Markham, Ontario, Pond Technologies has developed a proprietary system that can profitably turn CO2 into valuable products. Its Pond Carbon business focuses on absorbing greenhouse gas emissions, transforming them into food, feed and nutraceutical ingredients. Pond recently added a Biotech division focused on growing unique strains of microalgae to be used as a reproductive medium for the expression of human antibodies and proteins.
For more information, visit https://www.pondtech.com/.
This press release contains forward-looking statements under applicable securities laws, including statements regarding prepayments, the early conclusion of a commercial supply agreement by the end of 2022, the time to complete the project and the expected growth in Division revenues. biotechnology of Pond. These forward-looking statements are based on certain key expectations and assumptions made by Pond, including but not limited to assumptions about the successful completion of the tests, the quality of the algae and recombinant proteins produced and the acceptance thereof by Pond. . third parties, the ability to produce recombinant proteins at low cost, the successful negotiation of supplies and trade agreements on terms acceptable to Pond, the continuing legislative regime in which Pond operates, availability of convenient labor and supplies, the proper functioning of Pond’s technology, Pond’s product demand, Pond’s ability to compete successfully, cash flow and expenses, and obtain and maintain intellectual property protection. While Pond believes that the expectations and assumptions upon which such forward-looking statements are based are reasonable, undue reliance should be placed on them and Pond cannot give any assurances that they will prove to be correct. By their nature, such forward-looking statements are subject to various risks and uncertainties, which could cause actual results and expectations to differ materially from anticipated results or expressed expectations, including risks disclosed in the Pond Annual Information Form and in the discussion of the direction and analysis of the financial condition and results of operations for the year ending 31 December 2021 available on the Pond profile on the SEDAR website at www.sedar.com.
Readers are cautioned not to place undue reliance on this forward-looking information, which is provided as of the date of this document, and not to use such forward-looking information for anything other than its intended purpose. Pond undertakes no obligation to publicly update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.
Neither the TSXV nor its regulatory service provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this version.
For further information please contact: Grant Smith, chief executive officer, at firstname.lastname@example.org, or 416-287-3835 ext. 201
SOURCE: Pond Technologies Holdings Inc.
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