Relay Medical & Fio Announces Over $500,000 CAD in Contracts for Fionet Mobile COVID-19 Testing & Tracking Platform; Provides Operational Update

• Relay & Fio joint venture, Fionet Rapid Response Group, announce over $500,000 CAD in initial contracts
• Fionet is a first-of-its-kind mobile testing & tracking platform designed to administer widespread rapid testing, for infectious diseases including COVID-19, and capture real-time data & insights
• FRR has begun platform configuration with COVID-19 rapid diagnostic tests from Abbott, Roche and Proprietary Innovation Labs, positioning Fionet to support some of the most widely accessible COVID-19 tests in the world
• FRR takes delivery of the first production run of mobile testing devices from its Minneapolis-based contract manufacturing partner KeyTronic (NASDAQ: KTCC)
  

TORONTO, Nov. 12, 2020 (GLOBE NEWSWIRE) -- Relay Medical Corp. (“Relay” or the “Company”) (CSE: RELA, OTC: RYMDF, Frankfurt: EIY2), and Fio Corporation (“Fio”), together Fionet Rapid Response Group (“FRR”) are pleased to provide an update on contracts exceeding $500,000 CAD.

In an alliance with South Korean rapid diagnostic test (RDT) maker, IVD Lab Co, FRR announces a contract with funding assistance provided by the National Research Council Canada (NRC) to bring to market a new type of RDT that can greatly ease the burden on hospitals and save lives. Validation of this innovative RDT has started at UHN in Toronto, North America’s largest teaching and research hospital.

Fio Corporation holds the IP on the combination of biomarkers that made this test possible. South Korea is a country noted for outstanding production quality of RDTs.

This innovative RDT, for use alongside rapid tests that diagnose infectious diseases, is a simple blood test designed to distinguish those infected patients who are at great risk to become critically ill (and hence will need hospitalization) from those who will safely recover at home. US hospital capacity is now capped, yet the number of COVID-infected people is growing. To prevent death toll skyrocketing, it will be indispensable to keep hospital beds for those that will really need them. This test is designed to predict critical illness, or sepsis, in infectious diseases, and will be paired to the Fionet Device.