Toronto, Ontario--(Newsfile Corp. - April 16, 2021) - Relay Medical Corp. (CSE: RELA) (OTCQB: RYMDF) (FSE: EIY2) ("Relay" or the "Company") and Fio Corporation ("Fio") together through their joint venture company, Fionet Rapid Response Group ("FRR") report on recent news related to the impact of COVID-19 vaccinations, emerging new variants and the continued need for widespread rapid testing solutions such as the Fionet Platform, for community-based COVID-19 testing.
Difficulties in the gradual roll-out of vaccines1 and continued threat of novel variants across the globe means that widespread, affordable, and accurate diagnostic testing remains a critical component to the global COVID response. With deployment of vaccines occurring at varying rates around the world, communities are still at risk of the virus spreading and hotspots re-emerging, as such, testing will remain a vital tool for controlling the pandemic and safely opening up economies.
"Communities have made great progress against COVID-19, but as we've seen this is an evolving epidemic that requires multiple tools to manage it. Now is the time to expand the global rapid affordable screening infrastructure to ensure we are in a better position to control the pandemic," said Yoav Raiter, CEO, Relay Medical Corp.
The continued presence of COVID-19 in the population leaves the possibility for the development of new variants that may evade current vaccines, leaving the global community at risk of further waves of infection2. For this reason, the Pfizer CEO expects a third shot may be necessary within a year from the first dose.3 In many places, new variants now represent the dominant form of the COVID-19 virus due to their higher transmissibility, leading to faster infection rates. Combined with the unknown long-term protection provided by current vaccines4, continuous monitoring of active infections and immunity, through widespread testing solutions such as the Fionet platform, will remain an essential component of the global COVID-19 response5. The Fionet platform can also support antibody testing to verify that vaccinated populations are still immune.
"The virus is evolving genetically, so testing programs must evolve technologically. Our platform enabled lab-quality testing at Toronto Pearson Airport - an unimagined requirement a year ago. Pandemic-capable viruses are becoming a normal part of life. For us to live a normal life in this circumstance, we need technology to enable workplaces, entertainment venues, transportation hubs, and homes to function normally," said Michael Greenberg, CEO, Fionet Rapid Response Group and of Fio Corporation.
Fionet is a comprehensive, mobile testing and tracking platform to manage rapid testing programs at mass scale. It brings quality control, flexibility, and high throughput to rapid diagnostic tests in community settings. The Fionet Platform also captures and distributes frontline testing and triage data instantly across organizations, enabling timely, data-informed pandemic management.
Rapid diagnostic tests (RDTs) are an accurate and cost-effective means to administer widespread testing across any geographic region6. RDTs can be used for rapid screening of active COVID-19 infections using antigen tests and monitoring of immunity and past infections through antibody testing. Fionet's combination of software and hardware is compatible with multiple COVID-19 test types from various manufacturers, and easily integrates new and future tests as they come on the market.
Fionet has been proven on COVID-19 with recent deployment at the Toronto Pearson Airport, as part of a program to provide rapid on-site COVID-19 testing of passengers and airport staff for safer travel7. Recently, FRR announced a partnership with LifeLabs, a Canadian medical laboratory leader, to provide nationwide, community-based rapid antigen testing utilizing the Fionet Platform8.
Effective and successful COVID-19 response requires urgent interruption of the chain of transmission through massive testing efforts, which in turn will prevent emergence of new variants. That, in addition to fast vaccination, is indispensable to bring the pandemic under control. Fionet allows for safe, accessible and high-quality testing of large populations now and in the future as we continue to fight to stop the COVID-19 pandemic.
Testing programs are a cornerstone of public health response and the need for more distributed testing continues to accelerate in both the private and public sectors, examples include testing requirements for entry of international travelers to the majority of countries, and the Government of Ontario's Rapid Antigen screening program for workplaces9.
Recent News: Relay Medical Partners with LifeLabs to Deploy Fionet Platform for COVID-19 Testing Nationwide
About Fionet
The Fionet Platform is an end-to-end, rapid testing and tracking solution for community-based or decentralized settings. Combining a fast, handheld point-of-need device connected in real time to cloud data services, the Fionet Platform handles scheduling and registration via phone app at home, on-site check-in, rapid, on-the-spot antigen testing, data integration with other testing devices, result notification, public health notification as appropriate, and anonymized data and stats for dashboards for authorized stakeholders.
Website: www.fionetrapidresponse.com
About Fio Corporation
Fio Corporation, privately held and headquartered in Toronto, developed and markets the world's first integrated guidance & tracking IT platform for decentralized healthcare settings, a new category of solution that raises healthcare quality and lowers healthcare costs. The platform enables average healthcare workers in clinics to deliver a new level of quality-controlled diagnostic testing and case management.
Website: www.fionetrapidresponse.com
About Relay Medical Corp.
Relay Medical is a technology innovation company headquartered in Toronto, Ontario, with a team of experts focused on the development of novel technologies in the diagnostics, AI data science sectors, and IoT cybersecurity sectors.
Website: www.relaymedical.com
For Media Inquiries, please contact: Destine Lee media@relaymedical.com | 647-872-9982
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Contact:
W. Clark Kent
President
Relay Medical Corp.
Office. 647-872-9982 ext. 3
TF. 1-844-247-6633 ext. 3
investor.relations@relaymedical.com
Bernhard Langer
EU Investor Relations
Office. +49 (0) 177 774 2314
Email: blanger@relaymedical.com
Forward-looking Information Cautionary Statement
Except for statements of historic fact, this news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking statements are based on the opinions and estimates at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements including, but not limited to delays or uncertainties with regulatory approvals, including that of the CSE. There are uncertainties inherent in forward-looking information, including factors beyond the Company's control. There are no assurances that the commercialization plans for the technology described in this news release will come into effect on the terms or time frame described herein. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change except as required by law. The reader is cautioned not to place undue reliance on forward-looking statements. Additional information identifying risks and uncertainties that could affect financial results is contained in the Company's filings with Canadian securities regulators, which filings are available at www.sedar.com
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1 https://www.thelancet.com/journals/lanres/article/PIIS2213-2600(21)00129-6/fulltext
2 https://www.cbc.ca/news/health/coronavirus-variants-canada-covid-19-vaccine-third-wave-1.5978394
5 https://www.nytimes.com/2021/03/12/opinion/need-covid-tests.html?smid=em-share
6 https://jamanetwork.com/journals/jama/fullarticle/2773129
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