Wednesday, October 8, 2025

Latest

Relay Medical Joint Venture Secures Over $500,000 In Initial Contracts

Relay Medical (CSE: RELA) has seen its joint venture, Fionet Rapid Response Group, acquire contracts in excess of $500,000 in initial contracts. In connection with the announcement, the company also provided a corporate update on several facets of its COVID-19 focused operation.

First and foremost, the initial contract acquired by the firm appears to be in connection with an alliance formed with South Korean rapid diagnostic test (RDT) maker IVD Lab Co. The company has entered an arrangement to bring a new rapid diagnostic test to market that is designed to distinguish between those of whom with COVID-19 are at great risk of becoming critically ill, and those of whom can recover at home.

Testing and validation of this new rapid detection test, which was partially funded by the National Research Council Canada, is currently in process at the University Health Network in Toronto. The test is designed to ease the burden on hospitals, whom are currently near capacity across the US with rising infection rates, by assisting in keeping hospital beds for those that are most in need.

Outside of this development, the company has also seen the Fionet device implemented in ten primary healthcare facilities within Kenya. The device is currently in use for a number of administrative functions, as well as for COVID-19 screening. Negotiations are currently said to be underway with additional healthcare organizations globally, where it will be deployed to support rapid testing programs.

The company is also in the process of configuring some of the most widely used rapid diagnostic tests on the market to work with that of the Fionet device. Rapid tests from manufacturers including Abbott, Roche, and Proprietary Innovation Labs have been acquired for this purpose, with the combined manufacturing capacity of these tests to exceed 145 million units a month, making them some of the most commonly used rapid tests for COVID-19.

Finally, the first production run of the joint ventures COVID-19 mobile testing devices have been received from the contract manufacturer, with additional devices expected to be received within the next two weeks. The initial devices are to be used for onboarding of rapid diagnostic tests, supporting initial pilots of the devices, and for verification activities.

Relay Medical Corp last traded at $0.23 on the CSE.


FULL DISCLOSURE: Relay Medical Corp is a client of Canacom Group, the parent company of The Deep Dive. The author has been compensated to cover Relay Medical Corp on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security.

Video Articles

Fortune Bay: The Potential Billion Dollar Project

Japan Gold Enters New Chapter as Barrick Alliance Concludes – John Proust

Barrick Mining’s “Company Defining [Gold] Discovery”

Recommended

Nord Precious Metals Produces High Grade Silver Concentrate From Tailings

ESGold Secures $9 Million In Non-Dilutive Funding From Ocean Partners

Related News

US Coronavirus Cases Surpass 6 Million, Some Cities Waiting for Vaccine Before Lifting Restrictions

Many states across the US have been eagerly lifting restrictions and lockdown measures in a...

Tuesday, September 1, 2020, 11:10:56 AM

Revive Appoints Infectious Disease Expert As Scientific Adviser

Revive Therapeutics (CSE: RVV) this morning announced that they have appointed Dr David Boulware as...

Tuesday, March 24, 2020, 10:35:22 AM

Record Day for the Dow, Surges 11.4% as $2 Trillion Dollar Stimulus Package Looms

The markets rejoiced today as the Dow Jones Industrial Average increased nearly 11.4%, the most...

Tuesday, March 24, 2020, 06:08:19 PM

Rescue Bailouts for Airlines: Time to Bend Over, Taxpayers!

Much like the auto industry collapsing on its own oversupply of vehicles amid lack of...

Saturday, April 4, 2020, 08:30:00 AM

Relay Medical, Glow Lifetech Announce Successful Phase II COVID-19 Trials Based On Their Tech

Relay Medical (CSE: RELA) last night announced a positive development related to Glow LifeTech, a...

Friday, January 15, 2021, 07:07:22 AM