Toronto, Ontario--(Newsfile Corp. - April 8, 2020) - Relay Medical Corp. (CSE: RELA) (OTC: RYMDF) (FSE: EIY2) ("Relay" or the "Company"), a developer of MedTech innovation, is pleased to provide an update on cybersecurity protection on its HemoPalm Corp. devices and the collaboration with world-class cybersecurity company Cybeats Technologies Inc.
The HemoPalm device suite is being developed to bring Point-of-Care (POCT) critical diagnostics analyses to the forefront of patient care, which can be especially important when operating in settings or regions that do not have access to, or the infrastructure to support, a centralized lab. POCT can be defined as medical diagnostic testing at or near the point of patient care, without the need to transport samples to a remote location for testing.
While the interconnectivity of medical devices like the HemoPalm has the potential to greatly improve patient care and system efficiencies, there is also an increased risk of security breaches that could impact not only the safety and effectiveness of devices, but also breach patient privacy or access an institution's local network. Relay Medical is pleased to report on a collaboration with Internet of Medical Things (IoMT) cybersecurity company Cybeats Technologies Inc. to establish protection, monitoring and auditing of cybersecurity for the HemoPalm device suite.
The Cybeats Sentinel has been incorporated into the core system of the HemoPalm-CX prototype devices and provides them with cyber threat screening and defense in-depth.
"Cybersecurity in medical devices is increasingly becoming a concern for both manufacturers and regulators as more devices and connected medical technologies make their way into the connected ecosystem. This partnership allows for unprecedented remote monitoring, auditing and resolution of cybersecurity breaches that we believe will give Relay's clients and partners the protection and confidence they need independent of the region, infrastructure or environment they operate in," said Yoav Raiter, CEO, Relay Medical Corp.
Unlike a firewall, which protects a network from incoming malicious attacks, the Cybeats Sentinel monitors device operations and communications from within the endpoint system. If the device attempts to act outside of the normal operation, this activity will be reported and can be addressed remotely.
The FDA and other regulatory bodies require medical devices to address cybersecurity events in a timely fashion, and then respond and contain the impact of a potential cybersecurity incident. The Cybeats Sentinel allows the HemoPalm-CX device to facilitate some of these regulatory requirements, and the Cybeats vulnerability assessment demonstrates to regulatory bodies the proper documentation.
Market - Novel Point-of-Care Diagnostics for Improved Healthcare Efficiency and Disaster Preparedness
Healthcare systems around the world have been under extreme stress, facing reduced budgets, aging populations, and a rising disease burden from cardiovascular disease, cancer, diabetes, and mental and substance-use disorders. With the addition of a healthcare crisis such as the COVID-19 pandemic, currently causing widespread pneumonia and acute respiratory distress syndrome (ARDS), the world is seeing health care systems stretched to their limits. While the current pandemic will eventually come to an end, healthcare systems will need to improve their efficiencies and disaster preparedness to handle future crises. Fortunately, novel medical devices can make healthcare more efficient, effective, and flexible.
Relay's HemoPalm subsidiary focuses on point-of-care diagnostic testing (POCT). As we have seen through the COVID-19 pandemic, efficient and widely available diagnostic testing is critical to managing and controlling disease outbreak, triage, diagnosis, treatment, and epidemiology. As the coronavirus outbreak continues, diagnostics will also be vital to public health policy and economic management. POCT can improve the timeliness, efficiency, cost, availability, and distribution of testing. Ideally, POCT will result in the right clinical intervention at the right time while reducing resource waste such as personal protective equipment (PPE) or healthcare worker's time. Most importantly, POCT can improve patient satisfaction and clinical outcomes.
Relay expects that the HemoPalm will be the first handheld blood gas and critical care analyte POCT device to include CO-oximetry, vital to understanding the oxygen carrying capacity of blood. Blood gas measurements are critical in the management of patients with ARDS, such as caused by the coronavirus, SARS-CoV-2. Decisions regarding a patient's mechanical ventilation depend, in part, on assessing blood oxygenation status. By enabling blood gas analysis at the patient's bedside with a HemoPalm device, the caregiver can have results immediately without leaving the patient's side. This can result in more timely clinical intervention and a more efficient clinical workflow. Outside the hospital, POCT blood gas analysis also plays an important role during natural disaster response and critical patient transport.
By improving the timeliness, efficiency, and accessibility of testing, novel POCT devices like HemoPalm can have a profound effect on the preparedness of healthcare systems, enabling them to be ready for the next big healthcare challenge. A key aspect of these new devices will be improved interconnectivity and deployability where cybersecurity will become a key factor. With its collaboration with Cybeats, Relay medical is developing HemoPalm with the necessary considerations to ensure device and data integrity for healthcare systems.
About Cybeats Technologies Inc.
Cybeats delivers an integrated security platform designed to secure and protect high-valued connected devices. Cybeats' unique approach eliminates device downtime due to cyber-attacks and allows device manufacturers to develop and maintain secure and protected devices in a timely and cost-efficient manner.
Website: www.cybeats.com
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 HemoPalm Corp. 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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