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Can Know Lab Deliver on the Promise of its “Disruptive Technology”?

30 Mar Can Know Lab Deliver on the Promise of its “Disruptive Technology”?

Know Labs, Inc. (OTCQB: KNWN) formerly known as Visualant, is a premier non-invasive medical diagnostics company that is leveraging its proprietary electromagnetic energy technology platforms, namely ChromaID and Bio-RFID technologies, to capture the unique molecular signature of any substance or material.

The Company shared preliminary study results from Texas Biomedical Research Institute (Texas Biomed) that demonstrate Particle bulb’s potential to inactivate SARS-CoV-2, which is responsible for the ongoing COVID-19 pandemic. Furthermore, the Particle bulb is also effective against bacteria and germs such as E. Coli, Salmonella, and Staphylococcus.

Phil Bosua, CEO of Know Labs, commented,

“We were very pleased to work with Texas Biomed because of their reputation as a global leader in eradicating infectious diseases and we’re really excited by these results.”

Particle is a disinfecting light bulb that can simultaneously illuminate and disinfect, and comes with a smart sensor. The bulb is safe for kids, pets and plants as its smart sensor deactivates UV when an individual is in the vicinity, and can be used in existing standard light sockets. The bulb’s gentle UV is 9,000x safer than traditional UV-C disinfecting products and confirms to the safety standards set by International Commission on Non-Ionizing Radiation Protection (ICNIRP) as per the Company.

The Company expects to start shipping the bulbs in the summer of 2021 and is targeting a wide array of settings such as Home, Restaurants, Hospitality, Workplaces, Schools and Universities as potential customers. Particle is also planning to offer commercial lighting options that can be customized to suit specific business requirements.

Know Labs, Inc. (OTCQB: KNWN)

Market Cap: $87.06M; Current Share Price: 3.31 USD

Data by YCharts

According to the World Health Organization (WHO), Coronavirus (CoV) is a family of viruses that cause illnesses ranging from common cold to lethal diseases such as the Middle East Respiratory Syndrome (MERS-CoV), Severe Acute Respiratory Syndrome (SARS-CoV) and a new strain of CoV named, novel coronavirus (nCoV). The virus is Zoonotic as it is transmitted from animals to humans, with the presence of many strains that have not yet infected humans. The infection manifests in the form of respiratory symptoms, cough, fever, shortness of breath and can take the form of pneumonia, severe acute respiratory syndrome, kidney failure and even death.

There is no definite cure for treatment or eradication of CoV, with treatment being limited to alleviation of symptoms, and providing support and care to patients. Scientists have been able to sequence the virus genetic code; spurring organizations around the world into action.

Diabetes is a silent killer which is slowly reaching epidemic proportions in developed as well as developing countries. The rise in obesity, sedentary lifestyles, poor dietary choices, stress and lack of exercise will see the number of incidences of Diabetes rise in the future. According to the International Diabetes Federation, the number of people living with diabetes will rise to 629 million by 2045, from 425 million adults (20-79 years) in 2017. In the U.S alone the people living with diabetes are set to increase from 58 million in 2017 to 67 million by 2045.

The increased awareness about the long-term complications caused by diabetes, along with the rise in co-morbidities such as cardiovascular, renal and neuropathic complications is set to propel the growth in the segment from $26.8 billion in 2016 to around $64 billion by 2026 according to a research by GlobalData. In spite of the market being dominated by generic drugs, such as metformin and similar drugs being in developmental stage, the market is projected to achieve a CAGR of 8.4% as per the same report.

Image Source: Company

Non-Invasive blood glucose monitoring offers a painless and more convenient alternative to monitoring glucose levels. According to a report by Coherent Market Insights, the global market for non-invasive blood glucose monitoring devices which were worth over US$ 5.1 million in 2017 will grow at a CAGR of 35.0% from 2018 – 2026. The ease and convenience of using the device, elimination of costly finger sticks and speedy transfer and sharing of data are some of the drivers of popularity of these devices, while the point of accuracy being lesser than conventional glucose monitoring devices may hamper its growth.

Particle is a subsidiary of Know Labs, a Company developing non-invasive wearable blood glucose monitor UBAND that eliminates the need for fingersticks and micro needles. The Company’s cutting-edge technology can be applied to detect blood glucose and is also being tested to check for alcohol white blood cells, which could potentially serve as an advanced cancer detection system. Know Labs is also testing the device to check for alcohol levels in the body.

Image Source: Company

UBAND uses radio waves to detect changes in the body by using advanced machine learning and data science to detect molecules and their flow through the body. The Company is using its proprietary Bio-RFID sensor in combination with spectroscopy, that studies the interaction between matter and electromagnetic radiation to create a breakthrough solution in glucose monitoring that will also come with an iOS and Android App that will enable custom notifications on smartphones. The app will also be able to alert users to fluctuating levels or in cases of hyperglycemic or hypoglycemic.

In July 2020, the Company signed a research agreement with the Mayo Clinic to test and validate its Bio-RFID technology and intends to incorporate the technology into bands, mobile and bench-top models. The Company had earlier planned to submit an application to the FDA through the De Novo process in 2020 and launch the UBAND in early 2021, however the impact of COVID-19 pandemic has affected its plans of testing with third-party research organizations. However, the Company is replicating the tests internally to ensure positive results even in third-party testing.

Image Source: Company

In April 2020, the Company was granted a patent for its Bio-RFID technology, covering the platform nature of the Bio-RFID technology and health related diagnostics employing spectroscopy in the radio/microwave frequency band.

Phil Bosua, Know Labs CEO and inventor of the Bio-RFID technology, commented,

“We are extremely pleased and proud to obtain this patent. It is truly an invention which we believe can disrupt and revolutionize non-invasive human biomarker detection and medical diagnostics.”

Key Takeaways

  • Know Labs is gearing up for the commercial launch of the Particle bulb and has put in place a team equipped with necessary resources to ensure a smooth launch. The Company is also engaged in the in-house testing of the UBAND with an aim to miniaturize the technology and fine-tune its algorithm before third-party testing commences.
  • In March 2021, the Company closed a $14.2 million of financing through existing investors and insiders, to provide funds for product development, clinical testing and Uplisting to either NASDAQ or NYSE. The Company had earlier raised $5.7 Million in June 2020 through new and existing accredited investors.
  • Know Labs has initiated the process of uplisting on either NASDAQ or NYSE, which it believes will not only ensure a wider exposure and visibility to the Company but also enable it to attract institutional and retail investors. In addition, the move will also improve the liquidity of its stock and enhance long-term shareholder value. However, the process for uplisting is subject to approval and will only be granted if the Company is able to meet financial and liquidity requirements and has adequate provisions for corporate governance and disclosure requirements.
  • Disclosure: I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

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