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Relay Medical Announces Subsidiary Glow LifeTech has Secured Exclusive Rights for Award Winning Swiss Technology for All-Natural Rapid Onset and Enhanced Potency Nutraceutical and Cannabis Products
March 02, 2020 3:00 AM EST | Source: Scryb Inc.
Toronto, Ontario--(Newsfile Corp. - March 2, 2020) - Relay Medical Corp. (CSE: RELA) (OTCQB: RYMDF) (FSE: EIY2) ("Relay" or the "Company"), a developer of MedTech innovation, provides an update on Glow LifeTech Ltd. subsidiary and corporate expansion activities. In December 2018, Relay announced the formation of Glow LifeTech Ltd. ("Glow"), a subsidiary to explore technology opportunities in the global cannabis sector.
Relay Medical is pleased to announce that its Glow LifeTech subsidiary has signed a commercialization agreement (the "agreement") with the innovative biotechnology company Swiss PharmaCan AG to acquire the exclusive rights for the manufacturing and sales of the patented and award winning MyCell InsideTM advanced drug delivery technology (the "Technology"). Under the agreement, Glow LifeTech and Swiss PharmaCan are joint strategic partners in bringing the technology and products to the North American market and will maintain an ongoing, collaborative working relationship providing support with ongoing studies and access to a pipeline of future product innovations.
The technology allows Glow to formulate cannabinoids and nutraceuticals with dramatically improved absorption, fast-acting onset, precise dosing and superior therapeutic benefits, to meet the growing demands for next generation value-add, high margin cannabis and nutraceutical products. The initial terms of the agreement include exclusive licenses for curcumin, iron, Vitamin K and all cannabis related formulations for the United States, Mexico and Canada markets.
The technology was recognized by the pharma industry with the prestigious CPhl Award for excellence in formulation in 2018 and has been successfully commercialized in Europe with growing sales in CBD, curcumin, vitamin and other nutraceutical health products.
"Not only does Glow's proprietary technology meet the requirements of enhanced bioavailability and water solubility, but also has the advantages of proven scalable manufacturing processes, verified consumer traction and a proprietary all-natural ingredient process proven on nearly 300 compounds," said Tom Glawdel, Chief Science Officer, Relay Medical Corp. "It is well known that fat-soluble nutraceutical compounds, such as THC, CBD, and curcumin are difficult for the body to absorb which results in waste, slow onset, unpredictable dosing and therapeutic benefits. Glow's technology mimics the human body's natural process for absorbing such compounds by encapsulating them in pre-formed micelles making these compounds ready for near immediate absorption when ingested. The process does not change the underlying molecular structure of the compound and the plant based all-natural ingredient adds no additional taste, odour or colour. Where conventional CBD oils taken orally have a bioavailability of 10%, meaning 90% never reaches the blood stream and is wasted, oils transformed by MyCell Inside can have close to full absorption."
"We are very excited to partner with Relay and fully capitalize on bringing our leading-edge technology and products to the North American nutraceutical and cannabis markets. We are confident that our shared vision and strategy will not only disrupt the marketplace, but more importantly enrich the lives of consumers looking for natural and effective products for nutrition, pain relief and recreational therapy," said Michel Faessler, Managing Director, Swiss PharmaCan AG.
Product & Technology Highlights:
- Proprietary Breakthrough Innovation
- Recognized by the Pharma Industry: Prestigious CPhI Award
- Supported by continued scientific and clinical studies
- A suite of nearly 300 compounds (CBD, Curcumin, Vit A, Vit K, Omega 3+)
- Unlocks Enhanced Potential of Cannabis and Nutraceuticals
- Mimics the bodies natural process of oral intake of fat-soluble compounds
- Maximizes absorption and bio-activity
- Get full value with minimal waste of expensive materials
- Allows for a predictable experience with faster onset/offset
- Accurate and precise dosing
- Maintain full spectrum profile of cannabis plant if desired
- Seamless integration into beverages, tinctures, sprays, foams, foods, topicals
- Smaller gel-capsules from increased potency
- 100% All-Natural ingredients
- Non-GMO, plant-based materials
- No synthetic chemicals, heavy metals, alcohol or preservatives
- No soap or chemical taste
- Key ingredient is source controlled and processed
- Commercially validated processing technology
- Partner in EU already selling diverse product line including CBD and nutraceuticals
- Mfg line is compact and scalable to local jurisdictions
- Production economics have been validated
- TAM includes Cannabis, Vitamins, Functional Food and Pharma
North American Cannabis & Nutraceutical Market
The North American markets for cannabis and nutraceutical products are set for robust growth. The adult-use cannabis market alone is projected to be $97 billion by 20261, fueled by novel developments such as cannabis-infused food and beverages and the federal legalization of hemp-derived CBD. According to Deloitte research, 22%2 of the Canadian adult population consumes recreational marijuana on an occasional basis, and the market set to reach $9.2 billion domestically by 20252 with strong growth in 'Cannabis 2.0' such as edibles, beverages and topicals, which are a natural fit for MyCell InsideTM technology. In addition, Mexico is poised to legalize adult-use cannabis as early as April 2020.
The Canadian functional foods and natural health products market which encompasses Glow's nutraceutical initiatives was estimated to be $24 billion in 2018. As North American consumers continue to seek alternatives to better health and well-being, the nutraceutical market will experience strong growth fueled by and relating to widespread nutritional deficiencies, weight management, digestive health, and other doctor recommended use of such products.
Opt-on to Glow's mail distribution list at www.glowlifetech.com or for further inquiries contact:
James Van Staveren
Corporate Development & Research
Glow LifeTech Ltd.
jamesv@glowlifetech.com
The Board of Directors of Relay Medical Appoint Yoav Raiter as CEO of the Company
Relay Medical's board of directors are pleased to announce the appointment of Director of Product Development, Yoav Raiter as Chief Executive Officer of the Company.
"Yoav is an immensely talented leader who has been a driving force behind the commercialization of the Company's projects for the past two years and the board of directors collectively have both fostered and anticipated his ascent to the role of CEO. We look forward to working with Yoav in his expanded leadership role as he continues to advance the Company's projects towards commercial readiness," said Gerard Edwards, Chairman, Relay Medical Corp.
As Relay's Director of Product Development, Yoav was responsible for project management, user testing, paths to commercialization, design, research and consumer insight. Prior to joining Relay Medical, Yoav built a 30-year career managing product development and innovation, leading the development of large-scale software teams, and medical device development management.
Yoav was formerly the project manager for strategic accounts at StarFish Medical and Director of project management and business development at Kangaroo Group. Yoav has additionally managed large-scale ERP product development and implementation projects for broadcasters in Canada and the US for Pilat Media and SintecMedia.
Yoav received an MBA, Specialized in High Tech Innovation Strategy, from Haifa University in Israel and B.Sc., Industrial Engineering, major: Project Management, Business Development and Information Systems from the Technion at Haifa, Israel.
With the promotion of Mr. Raiter, Lahav Gil has stepped down as CEO and Director of Relay Medical. Mr. Gil joined the Company as CEO in January 2018 and has been responsible for the building of the Company's commercialization infrastructure and advancement of the development of the HemoPalm Corp. and UX Data Science product lines. Mr. Gil will continue to advise on a project by project basis.
Mr. Raiter's appointment as CEO is effective as of March 1, 2020.
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 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 Glow Lifetech Ltd. 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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/52999