Toronto, Ontario--(Newsfile Corp. - November 15, 2021) - Relay Medical Corp. (CSE: RELA) (OTCQB: RYMDF) (FSE: EIY2) ("Relay" or the "Company") is pleased to share a recent article featuring the Company's cybersecurity platform and news related to favourable regulatory developments in the United States for Cybeats' unique product offerings.
On October 20, 2021, the Department of Homeland Security (DHS) Software Supply Chain Risk Management Act of 2021 was passed by the U.S. House of Representatives1. With its passing, the Under Secretary for Management is now required to issue department-wide guidelines for identifying materials used in software development such as Software Bill of Materials (SBoM). These new guidelines will work to modernize the DHS acquisition process and strengthen cybersecurity by requiring DHS contractors to submit SBOMs identifying the origins of each component in the software provided to the agency.
Cybeats in Forbes
Award winning cybersecurity and technology thought leader, Chuck Brooks, recently penned an article for Forbes Magazine titled Bolstering Cybersecurity Risk Management with SBOMS2. In the article Brooks writes about how companies and organizations cannot fully protect digital assets unless it is known what software applications they have connected to enterprise networks and devices, and where SBOMs can significantly improve the transparency and accountability of such assets. Mr. Brooks is consistently ranked as one of the top cybersecurity influencers in the world.3
In the article Brooks called on Cybeats' own Chief Technology Officer and renowned expert on SBOMs, Dmitry Raidman, to explain the importance and growing demand for cybersecurity software standards and how SBOMs are critical for tracking and transparency.
"Once you know precisely what inputs are used in your software, you can get a clear vision of the risk factor each specific bill of materials introduces to your environment when it runs," said Dmitry Raidman, Chief Technology Officer, Cybeats. "What's more, the security risk can change whether or not something in the software bill of materials changes since new vulnerabilities are discovered on a daily basis. The only way to know if you are affected is by having this level of transparency provided by a SBOM."
Regulatory Developments
In May 2021, the White House issued a formal Executive Order (EO) 14028 to strengthen cybersecurity in the US, including enhancing software supply chain security. Also in May 2021, concurrently with the EO, the National Telecommunications and Information Administration (NTIA) issued a notice for public comment in its mandate to publish a list of minimum elements for an SBOM. NTIA proposed a definition of the "minimum elements" of an SBOM that builds on three broad, inter-related areas: data fields, operational considerations, and support for automation4. And now most recently, on October 2021, DHS Software Supply Chain Risk Management Act of 2021 was passed by the U.S. House of Representatives5.
About Relay Medical Corp.
Relay Medical is a technology innovator headquartered in Toronto, Canada focused on the development of novel solutions in the diagnostics, AI data science and IoT security sectors.
Website: www.relaymedical.com
Contact:
Destine Lee
Media & Communications
Relay Medical Corp.
Office. 647-872-9982
TF. 1-844-247-6633
Media Inquiries: media@relaymedical.com
Investor Relations: investor.relations@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 the technology 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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1https://ritchietorres.house.gov/media/press-releases/rep-torres-software-dhs-supply-chain-risk-management-act-2021-passes-us-house
2https://www.forbes.com/sites/chuckbrooks/2021/11/01/bolstering-cybersecurity-risk-management-with-sboms/'sh=76a9d6fe296a
3https://roseferro.com/2021/10/homeland-security-today-visiting-editor-chuck-brooks-selected-as-10-best-cyber-security-and-technology-experts-in-the-world-by-best-rated/
4 https://www.federalregister.gov/documents/2021/06/02/2021-11592/software-bill-of-materials-elements-and-considerations
5 https://www.executivegov.com/2021/10/dhs-software-supply-chain-cybersecurity-act-passes-house-vote-ritchie-torres/
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