Fionet is a first-of-its-kind mobile testing platform for organizations to manage and track on-site COVID-19 testingFionet Devices, usable by non-expert personnel, enables lab-grade diagnostic testing in clinics, pharmacies, workplaces, airports, nursing homes and other community-based locationsSimultaneously, Fionet Cloud relays real-time data for remote oversight of frontline testing activities and resultsFionet is compatible with rapid diagnostic tests (RDTs) from multiple suppliers, enabling agile testing programs and reducing supply chain constraints for RDTsProven in the field with 1 million cases in 12 countries for other high-consequence pandemics, including malaria, HIV, dengue, ebola and othersDocumented impact in scientific and medical journals demonstrating diagnostic accuracy of 99.5%1 equivalent to that of laboratory technologists, while reducing testing errors and cost inefficiencies“Proved to be an essential tool for both performing [rapid diagnostic tests] in the field and for monitoring from remote locations.”2
TORONTO, Aug. 26, 2020 (GLOBE NEWSWIRE) — Relay Medical Corp. (“Relay” or the “Company”) (CSE: RELA, OTC: RYMDF, Frankfurt: EIY2), and Fio Corporation (“Fio”) announce the commencement of operations of the Fionet Rapid Response Group (“FRR”) to bring a new COVID-19 mobile testing and tracking platform to market.FRR is now in negotiation for trial deployments with several potential partners.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” and is headquartered in Toronto, Canada. “Community-based testing and real-time tracking is indispensable for combating pandemics like COVID-19. Fionet has already made this happen in the most challenging epidemic regions on the planet and we are now preparing for imminent deployment of our platform with several partners to combat COVID-19 at home and abroad,” said Dr Michael Greenberg, CEO of Fionet Rapid Response Group.
Fionet is a mobile testing and tracking platform specifically developed for controlled, rapid response to pandemics. The platform combines handheld devices linked to online AI-powered cloud, automating frontline testing and capturing test results for tracking. Fionet’s 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.A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/abb3635d-6461-4211-bc08-156b57247c87Fio’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.A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/ff268b54-709f-4b8f-9d53-7358cbdcb5b7Flexible and customizable, Fionet enables diagnostic testing in any community-based setting to support a variety of return-to-work use-cases. Testing can be expanded beyond the few overburdened medical centres to small clinics, pharmacies, workplaces, airports, nursing homes, schools, etc. and performed at hospital-grade accuracy, in higher volume, faster-speed, and by less-skilled frontline workers.
Fionet has 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.
“The many transformational benefits delivered by Fionet have been validated and documented in several dozen scientific and medical journals. Fionet has successfully reduced testing errors by 23%, achieves 99.5%1 diagnostic accuracy rate compared to expert lab techs, and provides significant economic efficiencies,” said Yoav Raiter, CEO, Relay Medical Corp.1 Noble et al. Continuous quality monitoring in the field: an evaluation of the performance of the Fio Deki Reader™ for rapid HIV testing in South Africa. BMC Infectious Diseases (2020) 20:3202 Mulvaney SP, et al. Rapid design and fielding of four diagnostic technologies in Sierra Leone, Thailand, Peru, and Australia: Successes and challenges faced introducing these biosensors. Sensing and Bio-Sensing Research 20 (2018) 22–33.Regulatory StatusFionet has been submitted to Health Canada for regulatory approval under the new Interim Order (IO) mechanism for expedited access. Upon this outcome, Fionet will thereafter be submitted for expedited access approval by regulators in other international jurisdictions (eg. FDA). Fionet will be adapted only to rapid diagnostic tests (RDT) that are approved in the respective jurisdictions in which the platform will be deployed.**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.The Company announces that it has granted an aggregate of 1,000,000 options to purchase common shares of the Company at today’s closing price and expiring on August 26, 2025, to certain directors, employees, officers and consultants of the Company.About Fio CorporationFio 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.comContact:
W. Clark Kent
President
Relay Medical Corp.
Office. 647-872-9982 ext. 2
TF. 1-844-247-6633 ext. 2
investor.relations@relaymedical.comBernhard Langer
EU Investor Relations
Office. +49 (0) 177 774 2314
Email: blanger@relaymedical.comForward-looking Information Cautionary StatementExcept 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. 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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