FendX Expands Its Nanotechnology Platform By Signing An Exclusive Worldwide License For Spray Coating Formulation

FendX Technologies Inc., a nanotechnology company developing surface protection coatings, is pleased to announce that the Company has signed a licensing agreement dated May 16, 2023 (the "License Agreement") with McMaster University, Hamilton, Ontario ("McMaster") for an exclusive worldwide license to certain technology, including a U.S. provisional patent application filed on October 11, 2022, for a bifunctional spray coating formulation that reduces contamination of high touch surfaces by repelling and killing pathogens.

Dr. Carolyn Myers, President and CEO of FendX, stated, "We are extremely pleased to expand our nanotechnology intellectual property portfolio to include a spray coating formulation through this license agreement with our research partner McMaster." Dr. Myers continues, "The spray formulation is currently under development at McMaster and demonstrates not only repelling properties similar to our REPELWRAP™ film, but also demonstrates that it kills residual pathogen contamination. This is an important addition to our current nanotechnology as a potential spray product could be easier to apply to many surfaces and expand our potential market opportunities beyond industrial and commercial applications."

The License Agreement provides FendX with a development-stage nano-spray coating which demonstrates both pathogen repelling and killing properties. McMaster lab testing has shown a reduction in adhesion of 99.99% for methylene-resistant Staphylococcus aureus ("MRSA") and 99.96% for bacterial virus Phi6, compared with controls. Plastic gloves sprayed with the nanotechnology coating showed a 99.99% reduction in the transfer of Phi6 and MRSA after only one touch compared to uncoated gloves which continued to transfer MRSA and Phi6 after 50 touches. Killing activity was measured by the reduction in colony forming units on coated surfaces compared with noncoated surfaces and results showed a 99.98% reduction in the number of MRSA and Pseudomonas aeruginosa colony forming units on nano-coated surfaces. These results were published in two peer-reviewed journals: Jarad, N. A. et al, Small, "An Omniphobic Spray Coating Created from Hierarchical Structures Prevents the Contamination of High‐Touch Surfaces with Pathogens", 2023, 2205761 (1-11) and Jarad, N.A. et al, ACS Applied Materials and Interfaces, "A Bifunctional Spray Coating Reduces Contamination on Surfaces by Repelling and Killing Pathogens", 2023, 15, 16253-16265.

The License Agreement provides FendX the exclusive worldwide right to manufacture, sell, market and distribute licensed products developed from the licensed technology. Pursuant to the License Agreement, there are no upfront payments required, but the Company will be required to pay a 4% royalty on net sales of a commercialized product and commit maximum research funding to McMaster of $112,000 in 2023 and $175,000 in 2024 to support continued research and development activities of the spray nanotechnology.