Relay Medical Joint Spectroscopic and Biosensor System for Point-of-Care Testing Patent Approved for Grant in China
Toronto, Ontario--(Newsfile Corp. - September 12, 2019) - Relay Medical Corp. (CSE: RELA) (OTCQB: RYMDF) (FSE: EIY2) ("Relay" or the "Company"), an engine for MedTech innovation, is pleased to announce that it has received formal notice that Patent Application No. 201580025752.6 for Joint Spectroscopic and Biosensor System for Point-of-Care Testing has been approved for grant in China, filed internationally May 20, 2015.
Relay Medical's Joint Spectroscopic and Biosensor System for Point-of-Care Testing patent's main claims cover the Company's HemoPalm Analysis Platform and IVD related assets.
"The patenting of Relay's HemoPalm technology in China represents a significant broadening of our diagnostics intellectual property portfolio to cover this important growing market." said Paul Glavina, Relay VP IVD.
"China's rapidly advancing market offers a tremendous opportunity for technologies and companies like ours. Their focus on the advancement of healthcare is notable and the POCT diagnostics sector is one of the key areas that are positioned to make a meaningful impact across the technologically advanced and rural areas of the country. This is a very positive development for our activities and ongoing exploration of opportunities in the region." said Lahav Gil, CEO of Relay Medical Corp.
Relay's HemoPalm system is being developed as a complete healthcare-enterprise solution for blood gas, electrolyte, and CO-oximetry testing. Utilizing a disposable, unit-use cartridge and handheld reader, it is designed to improve the cost, quality, timeliness, and efficiency of patient care.
The Company announces that it has granted an aggregate of 4,400,000 options to purchase common shares of the Company exercisable at a price of $0.20 per common share and expiring on September 12, 2023, to certain directors, employees, officers and consultants of the Company.
About Relay Medical Corp.
Relay Medical is an evolving "Integrated Medtech Accelerator" headquartered in Toronto, Canada, advancing multiple opportunities for commercialization within a resource efficient infrastructure. Relay is also actively dedicated to scouting and reviewing strategic acquisitions complimentary to current infrastructure assets and intends to grow as a leading engine for MedTech innovation in the health technologies marketplace.
W. Clark Kent
Relay Medical Corp.
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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 HemoPalm product 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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