Cytophage Update on Upcoming Product for Egg Production in Canada

Date/time : 2024-02-12 07:50 AM
Symbol :

CIII.P

Company : Cytophage Technologies Ltd Com
Price : 0.70
Market cap : 24,661,560
O/S : 35,000,000
Exchange :

TSXV

Industry :

Other Diversified Financial Services

Full story

Cytophage Update on Upcoming Product for Egg Production in Canada

(TheNewswire)

Cytophage Technologies Ltd.

Winnipeg – TheNewswire - February 12, 2024 - Cytophage Technologies Ltd. (TSXV:CYTO) (“Cytophage” or the “Company”) is pleased to announced that it has completed research and development of its OvaPhage product, and is preparing to conduct field trials in Canada as a final step before commercialization.   Cytophage has been in longstanding discussions with Canadian industry leaders who have sought alternatives to the currently available disinfectant products used in egg production.  As a result, Cytophage has developed OvaPhage, its next product in the FarmPhage line. OvaPhage is a bacteriophage product that will address b acteria such as Salmonella, Escherichia, and Shigella on the surface of eggs. OvaPhage is a disinfectant bacteriophage product that, in laboratory studies, reduces 90% of bacterial load on egg shells .   OvaPhage is also environmentally friendly, non-toxic and does not damage the cuticle of the egg.

Cytophage developed OvaPhage based on its proprietary bacteriophage technology, and has tested it in its laboratories over the past 9 months.  Cytophage is now preparing for field trials which will involve testing the product in poultry barns.  OvaPhage will be sprayed on the eggs using the existing closed spray systems available in poultry barns. The Company’s national poultry advisor has indicated that Canadian egg producers would welcome new products that will decrease spoilage and increase revenues while not requiring new application processes.

To facilitate this step, an Experimental Studies Certificate application is being prepared for submission to the Canadian Food Inspection Agency.  An application for regulatory approval in the United States has been submitted and a similar regulatory approval submission for Canada is currently being developed. Upon completion of field testing and regulatory approvals, the Company expects to commence commercialization of OvaPhage across Canada.

“OvaPhage is one of several product developments that Cytophage aims to commercialize in 2024 with our proprietary bacteriophage technology,” said Dr Steven Theriault, CEO of Cytophage. “ Canada is a global leader in maximizing egg production.  We believe that the successful field testing and commercialization of OvaPhage in Canada will strongly position the product for distribution across the globe. We look forward to providing continued updates as to additional bacteriophage products and applications in both animal health and human health"

For media inquiries:

Heather Medwick

President

heather@cytophage.com

431 388 8873

About Cytophage:

Cytophage is a pioneering biotechnology company dedicated to bacteriophage research, product development and commercialization. Committed to addressing the global challenge of antibiotic resistance, Cytophage advances innovative products that harness the power of bacteriophages to combat bacterial infections affecting human health, animal health, and food security.

Cautionary Statement on Forward-Looking Information

This news release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements”) within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Cytophage to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Factors that could cause actual results to differ materially from those anticipated in these forward-looking statements are described under the caption “Risk Factors” in Cytophage’s Filing Statement dated January 30, 2024, which is available for view on SEDAR+ at www.sedarplus.ca. These risks include but are not limited to, the risks associated with the bacteriophage industry, such as operational risks in development or capital expenditures, the uncertainty of extensive regulatory approval requirements, government regulations, protection of intellectual property, product liability and rapid technological advancements. Forward-looking statements contained herein are made as of the date of this press release, and Cytophage disclaims, other than as required by law, any obligation to update any forward-looking statements whether as a result of new information, results, future events, circumstances, or if management’s estimates or opinions should change, or otherwise. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements. Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV)

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