Relay Medical Provides Corporate Update
November 13, 2018 – Relay Medical Corp. (“Relay” or the “Company”) (CSE: RELA, OTC: RYMDF, Frankfurt: EIY2), an engine of MedTech innovation, is pleased to report on two propriety software developments and the expansion of the Company’s headquarters and development facilities. The software developments include a cloud-based regulatory management system and a modular software development toolkit for rapid prototyping and proprietary development.
Relay’s techno-commercial team embarked on the internal software projects as part of the expanding of the infrastructure for the management of multiple projects. Development and implementation of the software was initially conducted to improve efficiencies and regulatory management for the advancement of the HemoPalm project, and the software now acts as a backbone for the Company’s multi-project development processes.
The first is a proprietary cloud-based Traceability Matrix management tool, which integrates with the Company’s ISO 13485 SOPs and project management methodologies. The requirement tractability matrix is an important part of the regulatory submissions for market clearance to the FDA and other regulatory agencies, and is something that many medical device companies struggle with, relying mostly on immutable excel sheets or overcomplicated and costly enterprise QMS software. Relay’s approach is lightweight and tailored to fit the Company’s unique requirements, interlacing the QMS and the PM practices into the tractability tracking software. The software is also designed to automatically generate regulatory documents during the validation phase, to manage design controls effectively and eventually to simplify FDA submissions. Relay is designing this primarily for its own purposes but is not ruling out the possibility of this management software becoming the toolbox of choice for MedTech start-ups, as a product in its own right.
The second is a modular approach to the Company’s software development needs of creating a rapid prototyping platform and a proprietary developer toolkit. The software will be used in the majority of Relay’s projects, for cloud applications, front-end implementations and for middleware and connectivity. The developer’s toolkit is designed to accelerate software development across multiple projects by providing familiar tools and repeat practices as well as the modules already in place, so that software development does not need to start from scratch every time the Company takes on a new project, while maintaining high software quality across projects.
Relay is also pleased to report on a new 6000 square foot development facility currently under construction. This facility will include a much larger wet lab space as well as a workshop, electrical engineering lab and dedicated prototype assembly space. As the Company’s operations and project portfolio are expanding, the larger improved facility will provide an accelerator to Relay’s operational tempo and support the efficient onboarding of additional technologies and personnel.
About Relay Medical Corp.
Relay Medical is an evolving “Integrated MedTech Accelerator” headquartered in Toronto, Canada, acquiring early-stage technologies and inventions, advancing and preparing them for pre-commercial acquisitions in the HealthTech marketplace. By integrating the funding, development and exit process into one organization led and managed by one expert team, Relay Medical is building the capacity to accelerate and transact technologies with high efficiency and grow into a leading engine for MedTech innovation in the global HealthTech 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 UXD 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