Relay Medical Provides Update on the Role of CO-oximetry Technology in Nitric Oxide Therapy for COVID-19

Toronto, Ontario–(Newsfile Corp. – April 22, 2020) – Relay Medical Corp. (CSE: RELA) (OTCQB: RYMDF) (FSE: EIY2) (“Relay” or the “Company“), a developer of MedTech innovation, is pleased to provide an update on the role of CO-oximetry measurements in nitric oxide therapy which are being investigated to treat COVID-19 patients.

Relay is currently developing the HemoPalm-CX, a portable analyzer that provides a full panel of CO-oximetry results including total Hemoglobin (tHb), oxyhemoglobin (O2Hb), deoxyhemoglobin (HHb), Methemoglobin (MetHb), and carboxyhemoglobin (COHb). HemoPalm-CX takes accurate measurements on a small-volume of unprocessed whole blood sample using a single-use cuvette. The device has a short analysis time, is simple to use and requires essentially no maintenance, making it ideal for the point of care environment when testing is required at the bedside.

COVID-19 continues to spread rapidly around the world and is responsible for tens of thousands of deaths, yet no disease-specific interventions are currently available. Several clinical trials are currently underway investigating inhaled nitric oxide gas as an effective preventative therapy or treatment.

Inhaled nitric oxide can be used to safely relax blood vessels in the lungs, which increases the transfer of oxygen to the blood and lowers cardiac workload. Additionally, nitric oxide is known to have broad bactericidal and antiviral properties. During the 2003 SARS outbreak, inhaled nitric oxide was observed to have antiviral activity against that coronavirus strain (1). Clinical researchers are now interested in determining whether nitric oxide has value in the treatment of COVID-19.

There are currently at least four nitric oxide clinical trials registered with the FDA (2):

1) for severe COVID patients on ventilators to improve survival
2) for mild-to-moderate COVID-19 patients to prevent the need for ventilation
3) for COVID-19 patients in the ER to reduce hospital admissions
4) for healthcare workers who are not yet symptomatic as a prophylactic

A significant risk with the use of nitric oxide therapy is the development of methemoglobinemia, a condition in which hemoglobin is converted into a state where it fails to transport oxygen effectively to the tissues. Careful monitoring of the patient using a CO-oximeter, such as the HemoPalm-CX, which measures all the different types of hemoglobin including methemoglobin, is required to adjust the nitric oxide dose at the bedside.

“The exceptional circumstances created by COVID-19 is driving forward new innovations and applications of technologies. The ongoing investigations into nitric oxide therapies is an example of the evolving need for the technology at the core of HemoPalm-CX” said Yoav Raiter, CEO, Relay Medical Corp.

In addition to monitoring methemoglobinemia during nitric oxide therapy for COVID patients, HemoPalm-CX has broader utility in critical care to monitor patient oxygenation, anemia, carbon monoxide poisoning, and in the cardiac catheterization laboratory for the assessment of intracardiac and great vessel shunts. The company will continue to monitor the results of the clinical studies and keep the public abreast of the new developments and applications of the HemoPalm-CX technology as they arise.

References
1. Clin Infect Dis. 2004 Nov 15;39(10):1531-5. Inhalation of nitric oxide in the treatment of severe acute respiratory syndrome: a rescue trial in Beijing
2. https://clinicaltrials.gov; NCT04290871, NCT04305457, NCT04338828, NCT04312243, NCT03331445

Other Business:

The Company announces that it has granted an aggregate of 200,000 options to purchase common shares of the Company exercisable at today’s close per common share and expiring on April 22, 2025, to certain directors, employees, officers and consultants of the Company.

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

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/54762