Sona Nanotech Inc. announced that it has entered into an agreement to supply certain gold nanorod material to Siva Therapeutics Inc. Under the terms of the agreement, Sona will benefit from an evaluation and characterization of its biocompatible nanorods by the U.S. Nanotechnology Characterization Laboratory a collaborative effort between the National Cancer Institute, the US Food and Drug Administration ("FDA"), and the National Institute of Standards and Technology ("NIST"), of which Siva is qualified as a program participant. Siva, which will have an exclusive right to one specific size of Sona's gold nanorods for use in their therapies, has committed to place an initial order in early 2023, following the NCL characterization, and Sona has committed to achieving Good Manufacturing Practices ("GMP") accreditation for the manufacturing of its biocompatible gold nanorods in its laboratory. Also, Sona will be issued US $150,000 worth of stock in Siva which has been granted a first right of refusal for an exclusive license for any patents developed by Sona pursuant to this agreement with any patents or patent applications covering any jointly developed intellectual property to be co-owned by Sona and Siva.

The term of the agreement is for ten years, renewable by mutual consent, subject to Siva and Sona achieving certain respective operational milestones.