GreenBank Capital (CSE:GBC) Inc told investors that its portfolio company CodiKoat has successfully completed pilot tests of its GoVirol anti-viral coating product.
The tests were conducted at the Royal Opera House in London by Codikoat's own scientists over three months from the middle of May to the middle of August 2021.
The CodiKoat technology is a surface coating that works by crippling the protein spikes of coronaviruses within seconds of contact. Greenbank noted that efficacy remained constant throughout the trial - the GoVirol product was shown to be as effective on the last day of the trial as it was on the first, supporting CodiKoat's own lifetime protection laboratory tests.
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As part of the trial, GreenBank explained that CodiKoat applied GoVirol to several frequently touched surfaces within London's Royal Opera House for a continuous period during the three months. The samples were monitored by CodiKoat scientists throughout the pilot testing period, who measured GoVirol's ability to remove viruses and harmful bacteria from the surfaces, as well as the durability of the application.
After three months, the GoVirol coated samples maintained exceptional antiviral results, killing 99% of viruses within seconds of contact - including coronavirus particles.
The GoVirol samples were put to the test by venue-goers, with an estimated 250 touches on average per day. This amounts to an estimated 22,000 times in total per sample, over the three-month testing period, the company added.
“Importantly, despite undergoing rigorous cleaning regimes on a regular basis and the high frequency of contact, the GoVirol samples were shown to be just as effective on the final day of the trial as they had been on the first,” GreenBank said.
“As the world continues to do battle against the COVID-19-causing coronavirus pandemic, GreenBank believes that CodiKoat's coronavirus-killing antiviral solutions can serve as highly valuable tools for reducing viral transmission.”
GreenBank said the outstanding performance and durability shown in the Royal Opera House trials is consistent with CodiKoat's own laboratory-based testing and moves GoVirol another step closer to commercialization.
It said the GoVirol surface coating can be applied to virtually any surface or material and the trial demonstrates that it can be deployed to help minimize transmission in major public spaces including entertainment venues, public transport, healthcare, as well as touch screen pads, smartphones and more.
The company noted that GoVirol has already achieved ISO 21702:2019 certification, confirming its efficacy in the eradication of human coronavirus NL63 in a regulated environment. The International Standards Organisation (ISO) is a global network of the world's leading standardisers. ISO 21702:2019 is a standard issued by the ISO for measuring antiviral activity on plastics and other non-porous surfaces of antiviral-treated products against specified viruses.
While the ISO test was not conducted specifically on SARS-CoV-2, the coronavirus that causes COVID-19, GreenBank said theoretical calculations conducted by the University College London (UCL) and Cambridge Scientists at CodiKoat have demonstrated that the electrical charge mechanism of virus inactivation used in GoVirol will also apply to SARS-CoV-2 protein spikes, destroying the virus.
"We are deeply impressed by the trial results achieved by CodiKoat,” GreenBank CEO Terry Pullen said in a statement.
“This fully justifies our confidence in the CodiKoat technology and management team, and we have increasingly high hopes for the positive health impact that the CodiKoat technology will have in the healthcare, touch screen device and hospitality sectors.”
Alongside the GoVirol coating, GreenBank said CodiKoat continues to develop other antiviral solutions that will help protect from harmful bacteria and viruses in years to come.
Testing continues on an antiviral face mask, an air filtration system that destroys harmful air pollutants and viral threats, as well as a host of other applications for this ground-breaking tech.
GreenBank purchased an initial 5% stake in CodiKoat and has the option to increase this to 15%, as detailed in its announcement of May 4, 2021.
GreenBank is a next-generation merchant banking business with offices in Toronto, Dallas, New York, and London.
Contact the author at stephen.gunnion@proactiveinvestors.com