FluroTech Announces Joint Venture Product Solution and Partners

CALGARY, Alberta, Nov. 10, 2020 (GLOBE NEWSWIRE) -- FluroTech Ltd. (TSXV: TEST) (OTCQB: FLURF), ("FluroTech" or "the Company") is pleased to announce, its previously announced joint venture FluroTest Systems Ltd. ("FluroTest") will launch its first product and solution offering through a strategic agreement between FluroTest, Hudson Robotics Inc, and BMG LABTECH.

Hudson Robotics, founded in 1983, is a market leader with a long-standing history in laboratory automation. Located in Springfield, New Jersey, Hudson Robotics is a leader in microplate automation, laboratory robotics, liquid handling and customized software-driven laboratory automation solutions for life-science research. The company provides tools that can be used in areas such as drug discovery, clinical research and pharmaceutical development, including high throughput screening, proteomics and genomics.

"Hudson is pleased to have been chosen to automate the FluroTest Platform and will provide a state-of-the-art robotic system to minimize technician time associated with running the tests, while maximizing throughput and reliable results," said Bruce Jamieson, Vice President Marketing & Sales, Hudson Robotics.

BMG LABTECH is a world leader in the field of fluorescence detection, celebrating its 30th anniversary of serving the needs of laboratory environments. Based in Offenburg, Germany, BMG LABTECH created the first fluorescence plate reader in 1993, and the first fluorescence polarization reader in 1997. In the last few years, BMG LABTECH produced the first reader with an absorbance spectrometer, the first reader with a tunable dichroic mirror, and the first reader with a broad bandpass monochromator.  

"BMG LABTECH is proud to be chosen to serve a key role in the FluroTest Platform as the microplate reader provider serving a critical role both in our device and its software to realize, in conjunction with Hudson Robotics, the high throughput goals and capabilities in the FluroTest platform. We are excited to extend our leadership in laboratory environments to leadership at the point of care," said Eric Matthews, Vice President, BMG LABTECH.

FluroTest believes its Platform can benefit organizations serving large, concentrated populations and bearing significant pandemic risk, forcing them to incur consequential business disruptions and closures. Examples include, but are not limited to: colleges and universities, hospitals & large healthcare complexes, athletic stadiums & large performance venues, corporate campus environments, large office buildings & complexes, shopping malls and centers, retail working warehouses, factories, food processing plants, airlines, as well as any public transportation hub such as subway entrances and airport terminals.

"Our partnerships with Hudson Robotics and BMG LABTECH are critical to achieving our goal of processing 3,000 tests per hour and transmitting test results to every test taker within 5 minutes of collecting their saliva sample," said Bill Phelan, CEO of FluroTest. "Hudson Robotics and BMG LABTECH are leaders in their respective fields and already have their systems and software integrated, reducing the time necessary to serve large communities that need a surge-scale solution to test significant numbers of people rapidly and reliably."

Readers are cautioned that, although FluroTest has achieved proof of concept prototype, the testing method and device is still in the early stages of research and development and accordingly FluroTest is not currently making any express or implied claims that the technology can, or will be able to, accurately detect the COVID-19 virus. The Platform is currently pending FDA approval. In addition, FluroTest requires additional capital in the near-term to further the development and deployment of its testing device and will be seeking equity investors and is exploring strategic partnerships in connection with the same.

About FluroTech (TSXV: TEST) (OTCQB: FLURF)

FluroTech's proprietary spectroscopy-based technology allows for the testing and identification of organic and inorganic compounds contained within biological samples for specific applications. Using technology that was first developed at the University of Calgary, FluroTech has created a two-part solution comprised of its CompleTesttm platform technology and consumable testing kits. Its accuracy has been independently validated. FluroTech continues to develop additional applications for the CompleTesttm platform technology. To learn more, visit FluroTech.com

About FluroTest LLC

Unlike firms developing individual tests for the detection of SARS-CoV2, FluroTest is developing a complete system for surge-scale testing of viruses and other pathogens to be deployed in environments where significant numbers of people need to be tested rapidly and frequently. By combining and leveraging the disciplines of robotics automation, biochemistry (antibody labeling and binding), fluorescence detection and cloud computing, FluroTest believes it is creating the first pandemic defense platform of its kind.

FluroTest is seeking additional capital in the near-term and will also be exploring strategic partnerships with manufacturing and distribution companies to advance the deployment of the patent pending platform it is developing. To learn more, visit FluroTest.com

About Hudson Robotics Inc.

Hudson Robotics enables disruptive Life Science Research with Intuitive Digital Solutions that combine physical automation with advanced data management in easily understood applications. Hudson integrates existing technologies in unique ways to help our customers to achieve their goals, making their jobs easier and to allow them to keep pace with continually evolving research through a scalable and flexible architecture.

About BMG LABTECH

BMG LABTECH is a world leader and has been at the forefront fluorescence detection and microplate reader instrument development for 30 years. BMG LABTECH is powered by the desire to equip scientists all over the world with the very best instrument for their research. Today, BMG LABTECH offers a wide range of dedicated and multi-mode microplate readers for life sciences applications and high-throughput screening. 

Contact Information

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities. The securities described herein have not been and will not be registered under the United States Securities Act of 1933, as amended, or the securities laws of any state and may not be offered or sold within the United States or to or for the benefit or account of U.S. persons, absent such registration or an applicable exemption from such registration requirements.

Cautionary Statement Regarding Forward-Looking Information

This news release contains "forward-looking information" within the meaning of Canadian securities legislation. Forward-looking information generally refers to information about an issuer's business, capital, technology or operations that is prospective in nature, and includes future-oriented financial information about the issuer's prospective financial performance or financial position. The forward-looking information in this news release includes disclosure about FluroTest's and its partners involvement in the launch its first product and solution offering, the ability to adapt FluroTech's CompleTesttm platform technology to test for viruses, including COVID-19, as well as accurately determining viral load, the ability to adapt the technology to allow for the detection of specific anti-SARS-CoV-2 human antibodies in a patient's blood sample, and the speed and accuracy of such testing, the need for financing of FluroTest in the near term and the formation of strategic partnerships for the deployment and distribution of the technology. The Company made certain material assumptions, including but not limited to prevailing market conditions and general business, economic, competitive, political and social uncertainties, as well as the ability to adopt the CompleTesttm technology as described herein in a timely manner and to obtain the financing required in connection with the same, to develop the forward-looking information in this news release. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.

Actual results may vary from the forward-looking information in this news release due to certain material risk factors described in the Corporation's Annual Information Form under the heading "Risk Factors" and the failure to adapt the CompleTesttm technology as contemplated herein in a timely manner or at all, the risk that competitors will develop a similar or superior testing platform, the technology not having the anticipated testing benefits, the inability of FluroTest to obtain the necessary financing to achieve its purpose on satisfactory terms or at all, the failure to form strategic partnerships necessary to deploy and distribute the technology. The Company cautions that the foregoing list of material risk factors and assumptions is not exhaustive.

The Company assumes no obligation to update or revise the forward-looking information in this news release, unless it is required to do so under Canadian securities legislation.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy of this release.