Mr. W. Clark Kent reports

RELAY MEDICAL PROVIDES 2018 OVERVIEW

Relay Medical Corp. has provided an overview of operations and developments for 2018.

In 2018 Relay Medical made significant advances to the company's business and capabilities, notably changing the leadership, defining and refining the business model, expanding the techno-commercial team, building relevant infrastructure, completing successful financings, successfully completing the UXD acquisition, and advancing commercial strategies. The company's primary product mandate was to focus on the advancement of the HemoPalm blood analyzer technology in accordance with market needs and path-to-exit strategy. In early summer, the company acquired UX Data Sciences and the Pharmatrac technology and rapidly executed the expansion of its business capacity and infrastructure to support the HemoPalm project.

Leadership and infrastructure

At the beginning of the year the company's board of directors appointed seasoned medical device executive and innovation ecosystems builder Lahav Gil as chief executive officer, with a mandate to build a broader business model with a shorter-term focus to advance the HemoPalm blood analyzer. Under the leadership of Mr. Gil, the company began the year by undertaking thorough market research/analysis and the buildout of a dedicated techno-commercial team with the necessary capabilities to deliver on HemoPalm research and development and product development requirements. With this mandate, Relay's team has grown with industry-leading executives and technical leaders, and is currently moving to a newly expanded 6,000-square-foot headquarters facility by the Pearson airport, in the Greater Toronto Area. This facility will accommodate the company's human resource needs and lab requirements. Relay reported on the development of a cloud-based regulatory management system and a modular software development tool kit in support of HemoPalm development and the broader company strategy in November.

From single product development to a portfolio management business model and multiproject efficiency

The company also evolved its corporate strategy to optimize Relay's techno-commercial capacity. Under the guidance of Mr. Lahav and utilizing proven medical technology (medtech) development methodologies the company announced the evolution of its development strategy to support Relay Medical's integrated medtech accelerator business model. Utilizing Mr. Lahav's experience at Kangaroo Group and other developed relationships, the company has been successful in building out a best-in-class team. This buildout was also critical to support the HemoPalm development requirements.

Medication adherence and data science

In May the company announced the acquisition of the medication adherence and data science company UX Data Sciences Corp. In fall 2018 the company commenced user studies on the Pharmatrac medication management system which is being designed to address identification, monitoring and adherence issues for stakeholders within the medication treatment protocol life cycle. The company's current development path indicates that either a product launch, or the creation of a commercial partnership with a larger player focused on the Pharmatrac multiproduct system, is a practical expectation in 2020.

Technology intake

In conjunction with Relay's evolving business development/research requirements, the company appointed John Soloninka as senior vice-president of acquisitions and exits. Under Mr. Soloninka's leadership the company has been corresponding with leading tech transfer offices in Canada and the United States for its project intake funnel. From over 1,000 IP disclosures the company has identified over 100 technologies for advanced screening that are currently in multiple stages of due diligence. Relay's acquisitions department has established a scouting network and the company's current expectation is to have multiple acquisitions completed during 2019.

Glow Life partnership

At the end of 2018 Relay announced the launch of Glow Life Technology in partnership with AgraFlora Organics International. Relay will provide techno-commercial leadership and support for the venture that is pursuing technology opportunities in the medicinal cannabis and agrotechnology fields. Relay owns 50 per cent of Glow Life Technology and expects to provide further details on the strategy and operations of this venture in the very near future.

"In order to successfully commercialize/productize technologies and create significant sustainable value you need to establish efficient working processes and an infrastructure that supports the team and operations required to execute. Relay now has the team and resources required to unlock that value and execute on our strategy in a meaningful way. In 2018 the company grew, but more importantly the company was successful in laying the groundwork for repeatable success in development and productization. We look forward to demonstrating these capabilities and the value of the HemoPalm, Pharmatrac and of our new partnership in Glow Lifetech in 2019," said Mr. Gil.

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 precommercial acquisitions in the healthtech marketplace. By integrating the financing , 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.

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