GreenBank portfolio company CodiKoat achieves outstanding trial results for its anti-viral coating product

Toronto, Ontario, October 20, 2021 – GreenBank Capital Inc. (CSE: GBC and OTCMKTS: GRNBF and FRA: 2TL) (“GreenBank” or “the Company”) is very pleased to announce that its portfolio company CodiKoat  has successfully completed its previously- disclosed pilot tests of its “GoVirol” anti-viral coating product. The tests were conducted at the world-famous Royal Opera House in the heart of London by Codikoat’s own scientists over the course of a three month period between the middle of May 2021 and the middle of August 2021. 


  • CodiKoat engages in three month trial at the Royal Opera House for testing the efficacy of its GoVirol antiviral coating in a high-traffic real-world environment.  
  • After 3 months, the GoVirol coated samples displayed exceptional antiviral results, killing 99% of viruses within seconds of contact – including coronavirus particles.
  • 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
  • Another important step closer to commercialization
  • GoVirol, when widely produced and used, has the potential to radically reduce hospital-acquired healthcare-associated  bacterial and viral infections (“HAI’s”). HAI’s have been estimated to cost the US economy up to as much as $45bn per year and affect approximately 2 million patients annually in the USA alone. (source:

Trial Results

As part of the trial, CodiKoat applied its antiviral coating “GoVirol” to a number of frequently touched surfaces within London’s Royal Opera House for a continuous period during the months of May 2021 through August 2021.

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 3 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, having been estimated to have been touched on average over 250 times per day. This amounts to an estimated 22,000 times in total per sample, over the course of the 3 month testing period.

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.

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.

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.

The GoVirol surface coating has seemingly limitless applications and can be applied to virtually any surface or material. The trial demonstrates that GoVirol can be deployed to help minimize fomit (touch) viral, bacterial and fungal transmission in major public spaces including entertainment venues, public transport, healthcare, as well as touch screen pads, smartphones and more.

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.  Through its members (the national standards bodies in 165 different countries) the ISO brings together experts from all over the world to develop International Standards. 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.

Whilst the ISO test was not conducted specifically on SARS-CoV-2 (due to restricted access to  the relatively few laboratories with the required safety levels to conduct tests on COVID 19) both COVID19 and NL63, along with all coronaviruses, have an enveloped human coronavirus that has protein spikes on its surface. Theoretical calculations conducted by the UCL and Cambridge Scientists at CodiKoat have demonstrated that the electrical charge mechanism of virus inactivation used in Govirol will also be applicable to SARS-CoV-2 protein spikes resulting in the destruction of the virus.  

The CodiKoat technology is nothing like a vaccine, it is a surface coating that works by crippling the protein spikes of coronaviruses within seconds of contact. This is further evidenced by CodiKoat’s own tests on the MHV coronavirus which had exactly the same results as the NL63 test.

By way of analogy: fire burns all organisms, there is no need to test it on every animal to verify that fact. In the same way, the CodiKoat technology is fully expected to disable all coronavirus spike proteins within seconds of contact. However GreenBank is not making any express or implied claims that the CodiKoat products described herein have been specifically tested on the ability to eliminate, cure, or contain COVID-19 (or SARS-2 Coronavirus) at this time.

Acetate-film treated with CodiKoat’s coating has been proven to kill 90% of human coronavirus particles within 2 seconds of contact time and is over 99% effective within just 10 seconds. Testing appears to show that GoVirol offers similarly powerful protection against virtually all other harmful microbes, bacteria and fungi.

On the completion of the pilot tests, CodiKoat Co-founder Dr. Matin Mohseni said, “We’re incredibly proud to have completed our trial at the prestigious Royal Opera House. The results have been fantastic and it’s incredibly encouraging to see the durability in the performance of GoVirol. Our exceptional team continues to work towards bringing this technology to the world and helping to battle viral and bacterial transmission”.

Terry Pullen CEO of GreenBank commented  “We are deeply impressed by the trial results achieved by CodiKoat. 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, CodiKoat are continuing 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 4th 2021.

For the purposes of this release, GreenBank is relying upon the ISO report produced by independent laboratory  Virology Research Services LTD ( see ) who conducted the independent ISO tests and who issued the 21702:2019 certification,  as well as the highly regarded scientists who Co-founded CodiKoat. Dr. Reza Saberi Moghaddam, (CodiKoat co-founder) holds a PhD in physics from the University of Cambridge and has over 12 years’ experience in materials development processes and holds a portfolio of patents on coating techniques. Dr. Matin Mohseni (CodiKoat co-founder), is a biomedical scientist and engineer. He holds a PhD in development and targeting of metal oxide nanoparticles from University College, London and has several publications in related scientific journals.  Dr. Payam Nahavandi (CodiKoat Co-founder) is a biomedical engineer who holds a PhD in Medical Imaging from University College London  

About CodiKoat

CodiKoat are a Cambridge-based biotech company developing ground-breaking antiviral technology. Born in response to the coronavirus pandemic, CodiKoat have developed a team of industry-leading scientific and business minds to help bring their potentially lifesaving technology to the world.

CodiKoat’s technology works by using surface-functionalized nanostructures to inactivate viruses within seconds of contact.  It also has the same effect on bacteria and fungi. CodiKoat have developed a high-precision coating process to apply their product in a highly controllable and uniform manner. This provides a strong chemistry of nanostructures with the surface, which leads to high durability, lasting for the whole product lifetime.  CodiKoat technology can coat any surface — be it hard or soft, rough or smooth, curved or flat — with nanoparticles of any composition and size. CodiKoat materials can be easily tuned at an atomic scale and integrated into existing manufacturing lines for any product.

About GreenBank

GreenBank is a next generation merchant banking business that has a flexible low-cost overhead structure designed to maximize profitability. Our management are based in Toronto, Dallas and London and are used to working across borders remotely. Our model of remote working, dynamic space and flexible contracts —rather than large fixed costs – establishes GreenBank as a global merchant bank for the future, both during and after COVID19.

GreenBank is listed on the Canadian Securities Exchange, the Frankfurt Boerse and on the OTC Markets in the USA. (Trading symbols CSE: GBC and FRA: 2TL and OTCMKTS: GRNBF).  GreenBank invests in undervalued exponential growth companies focused on building consistent capital appreciation for its shareholders.

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