Relay Medical Corp. (“
Relay” or the
“
Company”) (CSE: RELA, OTC: RYMDF, Frankfurt:
EIY2), and Fio Corporation (“
Fio”) announce the
signing of U.S. and French distribution partners for the Fionet
Mobile COVID-19 testing and tracking platform.
Relay and Fio previously announced a joint venture on August 19,
2020 to rapidly launch and deploy a new COVID-19 testing, data
collection and reporting solution. The JV operates under the name
“Fionet Rapid Response Group” (FRR) and is headquartered in
Toronto, Canada. On August 25, Relay and Fio announced the
commencement of FRR operations.
Today, FRR announces that Fio has signed distribution partners
in France and in the U.S. to market Fionet to pharmacies and
certain other sectors.
Pharmacies are community-based and thereby access the vast
majority of the population; they are approximately 10x more
numerous than clinics; and France, the UK, and the U.S. have
already legalized COVID testing in pharmacies, and other countries
are following suit. Pharmacies are well-positioned to deliver
effective mass testing and triage and for safe return to work
programs.
For example, the U.S. has 67,000 community pharmacies, dwarfing
the 7,000 hospitals and community health centres combined. The
U.S.’s 175,000 pharmacists are referred to as the most over-trained
and under-utilized healthcare professionals in America.1
In France, Fionet will be distributed by Magentine, a company
set up to distribute Fionet and rapid diagnostic tests (RDTs). In
exchange for its marketing rights, Magentine has committed to a
minimum order in 2021. Magentine was founded and is headed by Mr.
Francois Dupoteau, who previously co-founded a successful in vitro
diagnostic company, ECS Prograstrin. In addition to marketing
Fionet to pharmacies, Magentine will market Fionet to physicians’
offices.
“Magentine Healthcare chose to deploy the Fionet Platform in
France to support the new opportunities for pharmacies to use
RDT tests. Fionet is the perfect solution for pharmacists to
accurately read, trace, and monitor rapid tests. Fionet further
creates efficient links between RDT users, central labs, and
patients to create maximum value for all stakeholders,” said
Francois Dupoteau, CEO of Magentine.
In the U.S., Fionet will be distributed by MyLabBox, a company
which is a leader of at-home and in-store testing solutions. In
exchange for its marketing rights, Magentine has committed to a
minimum order in 2021. In addition to marketing Fionet to U.S.
pharmacies, MyLabBox will market Fionet to corporations seeking to
implement safe-return-to-work testing programs.
“To get people back to work, to get them bringing home
paycheques again, to protect the economy, the question is not who
is sick. It is who is well and how can they return safely to
work. Pharmacies are an ideal site for mass community-based
testing, so that personnel can be tested and feel secure that
everyone else in their workplace was also tested,” said Dr Michael
Greenberg, CEO of Fionet Rapid Response Group and CEO of Fio
Corporation.
“With Fionet,” said Yoav Raiter, CEO, Relay Medical Corp, “there
can be accurate, frontline testing, real-time tracking, remote
supervision of frontline action, and automated digitization for all
frontline activity - all essential for the mass, decentralized
testing that could be done in sites such as pharmacies in order to
return people safely to work and to protect the economy from
continued damage.” Fionet is a mobile testing and tracking platform
that enables community-based return-to-work programs by performing
at hospital-grade accuracy, yet in higher volume, faster-speed, and
with less-skilled frontline workers.
Fionet thus enables the controlled expansion of diagnostic
testing and triage beyond the few overburdened medical centres to
the many community-based settings such as pharmacies, small
clinics, workplaces, airports, nursing homes, schools, etc.
The platform combines handheld devices linked to online
AI-powered cloud, automating frontline testing and capturing test
results for tracking. Rugged, mobile devices are compatible with
multiple third-party antigen and antibody COVID-19 rapid diagnostic
tests (RDTs), which creates sourcing flexibility for RDTs which are
of limited supply and continuously evolving. Fionet also connects
with molecular testing devices such as PCRs.
Fio’s cloud-platform delivers real-time, actionable intelligence
for supervisors and public health officials to manage responses and
resources to new levels of precision and promptness. Data and
insights are delivered to dashboards, IT systems and public health
databases for rapid, secure and data-informed responses.
Fionet has a proven, positive impact on 1 million patients with
infectious diseases in over a dozen countries and 4 continents. Fio
successfully managed testing programs for high-consequence diseases
such as malaria, HIV, dengue and ebola in partnership with
world-class organizations including World Health Organization, Bill
& Melinda Gates foundation, Ministry of Health of Democratic
Republic of Congo (DRC) and Republic of Kenya Ministry of
Health.
1
https://theconversation.com/us-pharmacists-can-now-test-for-coronavirus-they-could-do-more-if-government-allowed-it-135188
**The Companies are not making any express or implied
claims that its product has the ability to eliminate, cure or
contain the COVID-19 (or SARS-2 Coronavirus) at this
time.
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. Simultaneously, as an automated
by-product of its clinical use, the platform captures and provides
unprecedented frontline data to remote supervisors and
stakeholders, enabling real-time remote tracking, insight
distribution, and intervention. Fio operates globally in
partnership with local distribution, service, and support
organizations and also partners with other companies that license
its technologies.
Website: www.fio.com About Relay Medical
Corp.
Relay Medical is a MedTech innovation Company headquartered in
Toronto, Canada focused on the development of novel technologies in
the diagnostics and AI data science sectors.
Website: www.relaymedical.com
Contact: W. Clark Kent President Relay Medical
Corp. Office. 647-872-9982 ext. 2 TF. 1-844-247-6633 ext. 2
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 HemoPalm Corp. 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
Photos accompanying this announcement are available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/d18b0ef3-be59-45a1-bf07-47c75948f5d3
https://www.globenewswire.com/NewsRoom/AttachmentNg/be5d8225-797f-4d2d-8116-464e5fe7ade1
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