Gold nanorod manufacturer exploring potential of dual revenue streams for diagnostic, life sciences technology
May 14, 2018 – Dartmouth, NS – Atlantic Canada Opportunities Agency
Helping Atlantic Canadian businesses succeed in technology-driven global markets is key to generating income, spurring growth and strengthening the middle class and those seeking to join it. That is why the Government of Canada is supporting Sona Nanotech Limited’s efforts to establish a development and production facility for gold nanorod technology production in the Dartmouth area.
Darren Fisher, Member of Parliament for Dartmouth – Cole Harbour, announced a repayable investment of $500,000 on behalf of the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for the Atlantic Canada Opportunities Agency (ACOA). The contribution is being made through ACOA’s Business Development Program, which supports small and medium-sized companies’ innovations to improve competiveness in export markets.
The assistance will allow Sona Nanotech Limited to introduce novel nanorod products and customization services into the diagnostic and life sciences markets. A gold nanorod is a microscopic particle that can be implanted into the body and used to deliver medicine to the area that requires treatment. The commercialization of these products and services is expected to enable the company to become a self-sufficient diagnostics and life sciences innovation company.
The investment builds on the commitments made by the Government of Canada and the four Atlantic Provinces to drive economic growth in the region through the Atlantic Growth Strategy. The strategy supports strategic investments in initiatives that build on the region’s competitive advantages, such as its strong export potential and skilled labour, to expand business activities between the region and international markets.
“In order to grow a strong and sustainable economy in Atlantic Canada we must focus on connecting Canadian businesses with global customers to help turn our small companies into bigger ones, bringing our innovative goods, services and ideas out into the world. Curiosity, courage and creativity are what lead to the kinds of innovations and technologies that improve our daily lives and drive our economy, and our country, forward.”
- The Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for ACOA
“Our government is committed to creating sustainable growth, economic opportunity and prosperity in communities across Canada. Today’s investment will allow Sona Nanotech Limited to make a significant contribution to the regional economy by encouraging it to capitalize on its export potential to compete successfully in global markets.”
- Darren Fisher, Member of Parliament for Dartmouth – Cole Harbour
“This funding will help us commercialize our products and services as we strive to grow a strong, sustainable business in the competitive life sciences market. Sona may have global ambitions but it will always be Canadian at heart, and we are proud to be part of the thriving Nova Scotia business community.”
- Darren Rowles, Sona Nanotech Limited’s President and CEO
- Gold nanorods are used for non-invasive targeted cell, tumor, tissue and organ therapies such as cancer treatment, liposuction, diagnostic imaging and location-specific drug and pain treatment.
- The company plans to establish a development service for the diagnostic market, with its own nanorod technology at its core, which will be available through direct sales channels and/or licensed to prospective customers.
- Customization services will be accessible for life sciences markets, where the product will be sold directly to clients, or purchased through distribution networks.
- Sona’s gold nanorod particles are CTAB (cetyltrimethylammonium) free, eliminating the toxicity risks associated with the use of other gold nanorod technologies in medical applications.
Director of Communications and Outreach
Atlantic Canada Opportunities Agency
Phone: 902-426-9417 / 902-830-3839 (cell)
Head of Communications
Sona Nanotech Ltd.
Phone: (+44) 07967 707160