Relay Medical Sees Fionet Joint Venture Commence Operations

After the bell last night, Relay Medical (CSE: RELA) provided a market update on the current status of its joint venture with Fio Corporation. Known as the Fionet Rapid Response Group, the venture has now commenced operations focused on bringing COVID-19 mobile testing and tracking to the market.

The device, referred to as Fionet, has been submitted to Health Canada for regulatory approval under an interim order. Once granted, the company will seek further approvals in additional jurisdictions. Presently, Relay and its partner are in negotiations for trial deployments of the device with several partners.

Fionet, in layman terms, is a mobile testing and tracking platform that has been developed to be deployed within pandemic or epidemic situations. The Fionet is a handheld device that is linked to the internet to assist in automating frontline testing and capturing test results for tracking purposes. It works in conjunction with multiple third-party rapid diagnostic tests to read test results, enabling sourcing flexibility for tests that are typically in limited supply during pandemic situations. Further, it is usable by “non-expert” personnel, meaning its suitable for clinics, pharmacies, airports, workplaces and more.

Data collected from the devices enables public health officials and supervisors to monitor real-time data on disease spread through a series of dashboards, IT systems, and databases that enables rapid responses to occur. Utilization of the device also allows for diagnostic testing in any setting, such as the workplace to support return-to-work use cases.

“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.”

Michael Greenberg, CEO of Fionet Rapid Response Group

The device itself has proven its effectiveness, having been used on 1 million patients already to combat infectious disease outbreaks that include malaria, HIV, dengue and ebola. Fionet has been proven to reduce testing errors by 23%, while achieving a 99.5% diagnostic accuracy rate.

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.

One Response

Video Articles

2026 Could Be Gold’s Biggest Year Yet!? | Ryan King – Equinox Gold

Gold Is Screaming Higher While Currencies Burn | Simon Ridgway – Rackla Metals

We Have the Highest-Grade Antimony Deposit in North America!? | Jim Atkinson -Antimony Resources

Recommended

Canadian Copper Secures $8 Million Lead Order From Ocean Partners As Part Of Larger Funding Round

Northern Superior Expands Philibert With 350 Metre Step Out Testing 1.10 g/t Gold Over 25.5 Metres

Related News

Relay Medical Joint Venture Sees COVID-19 Device Launched In Rural Texas Hospitals

Relay Medical Corp (CSE: RELA) this morning announced that its joint venture with Fio Corp,...

Monday, November 23, 2020, 08:15:11 AM

Relay Medical Refreshes Management Teams, Company Boards

Relay Medical (CSE: RELA) this morning placed on emphasis on strengthening its management team as...

Monday, February 8, 2021, 09:07:02 AM

Health Canada’s Move To Approve Home Based COVID-19 Testing Bodes Well For Relay Medical

Last week, Health Canada formally changed its stance on at-home COVID-19 test kits as it...

Monday, September 7, 2020, 11:24:00 AM

Relay Medical Forms Clinical, Strategic Advisory Boards

Relay Medical (CSE: RELA) early this morning announced that it has formed strategic boards to...

Tuesday, September 22, 2020, 08:41:45 AM

Relay Medical Enters Binding LOI For Global Rights To COVID-19 Tests

Relay Medical (CSE: RELA) has entered into an arrangement to exclusively sell and distribute two...

Tuesday, November 10, 2020, 07:12:32 AM