Syniad’s Gemina Labs Announces License Agreement

Vancouver, BC – April 2, 2024 – Syniad Innovations Inc. (“Syniad”) is pleased to announce that Gemina Laboratories Ltd. (CSE: GLAB) (FRA:8I7) (the “Company” or “Gemina”), a developer of transformative chemistries for diagnostic tests, has signed a license agreement with a significant global diagnostics company. The license agreement is the culmination of Gemina’s commercialization program to date and will enable its new licensing partner to develop, manufacture and sell new products using Gemina’s IP platform.

The agreement is significant for Gemina as it provides a compelling validation of its technology after extensive, detailed scrutiny and evaluation over the last year, by one of the most distinguished players in the $106 billion global in vitro diagnostics market¹. The new partner considers its relationship with Gemina as commercially confidential and has required Gemina to enter into certain confidentiality undertakings. As a result, Gemina is not currently in a position to identify the counterparty.

Rob Greene, Gemina’s CTO, commented, “Our diagnostic technology asset has passed rigorous testing by one of the best teams in the industry which has resulted in this long-term relationship. We have previously reported how one of our technology breakthroughs saves up to 75% of antibody used on lateral flow tests which could represent a potential $3 billion saving per annum to the lateral flow industry as a whole. After all our hard work in the lab, we are very pleased to see our technology advance into a first partnership with a market leader that delivers hundreds of millions of tests per annum.”

“This is an outstanding first for Gemina,” stated Brian Firth, CEO of Gemina. “We are now targeting similar licensing deals with strategic partners across the life sciences and medical device sectors to enable next-generation diagnostics with our unique suite of proprietary technologies. With antibodies used in lateral flow costing anything up to $1500/mg (30c/test) and Gemina able to achieve dramatic reductions in antibody requirements (and commensurate cost savings), we offer a convincing commercial opportunity for our partners, in multiple segments of the diagnostics market.”

[Note 1: Kalorama, Worldwide Market for Diagnostics, 16th Edition]

About Gemina Laboratories Ltd.

Gemina Labs is a biosensor and diagnostic company with a transformative, patented, proprietary chemistry that powers next-generation testing platforms for a wide range of pathogens that affect human health and wellness. Our technology drives testing platforms that are fast, affordable and accurate, and easily self-administered. Our development pipeline includes platforms for the rapid testing of COVID-19, influenza, and other viruses. Additional information on the Company can be found at www.geminalabs.com.