Under the terms of the agreement, signed on February 16, 2021, Glow has exclusive rights to market, sell and distribute ArtemiC™ in Canada, U.S., Mexico and all Carribean countries as a food supplement.
Toronto, Ontario--(Newsfile Corp. - February 16, 2021) - Relay Medical Corp. (CSE: RELA) (OTCQB: RYMDF) (FSE: EIY2) (“Relay” or the “Company”), a technology developer and innovator, and Glow LifeTech Ltd. (“Glow”), a private company in which Relay holds a significant equity interest, are pleased to report that Glow has executed an agreement with Swiss Pharmacan AG (“the agreement”) for exclusive North American and Carribean sales and distribution rights for ArtemiC™ , a natural health product based on Glow’s MyCell™ Technology (“MyCell”) which recently reported successful results from a COVID-19 Phase II clinical trial (see Relay’s release dated Jan 14, 2021).
Under the terms of the agreement, signed on February 16, 2021, Glow has exclusive rights to market, sell and distribute ArtemiC™ in Canada, U.S., Mexico and all Carribean countries as a food supplement. ArtemiC™ is a clinically tested food supplement (nutraceutical, dietary supplement, natural health product) containing four natural based ingredients consisting of Artemisinin, Curcumin, Boswellia serrata, and Vitamin C. The formulation uses Glow’s MyCell™ delivery system technology to increase bioavailability and effectiveness of natural active ingredients. ArtemiC™ was a collaborative development effort with Glow’s strategic partner, Swiss PharmaCan AG and MGC Pharma (“MGC”), and will be manufactured by MGC Pharma under EU-GMP.
“This is a significant new product opportunity for Glow and our shareholders, as ArtemiC™ shows promising results that it may improve the clinical recovery of COVID-19 patients,” said Rob Carducci, Chief Commercial Officer, Glow LifeTech Ltd. “We are extremely pleased that our MyCell™ Technology is helping to power a natural, safe and effective product that can be made widely accessible during these challenging times.”
Recently, MGC announced the results of a Phase II double-blind, placebo-controlled clinical trial, which showed ArtemiC™ statistically significantly improved the clinical recovery of COVID-19 patients in comparison with the Placebo Group[1]. 100% of the patients in the treatment group met the trial’s primary endpoint and fully recovered within 15 days. None of the patients supported by ArtemiC™ required additional oxygen, mechanical ventilation or intensive care, compared to 23.4% in the placebo group requiring further assistance. The results deliver a full safety and efficacy profile, which is further supported by additional testing done by MGC on toxicity and mechanism of action.
“We continue to be encouraged with the broad applications of MyCell™ delivery technology and Glow’s commitment to bring scientifically-validated products to market,” said Yoav Raiter, CEO, Relay Medical Corp. “We believe ArtemiC™ is just the first of many innovative products to come from Glow, and as such, Relay has committed to participating in their recent RTO financing.”
On February 9, 2021, Relay announced its participation in the go-public financing of Glow, investing an additional $600,000 to minimize dilution of its equity position. The Glow go-public financing was oversubscribed for a total of $4,640,000 which is part of its conditional approval to list its common shares on the CSE.
Glow and Swiss PharmaCan are now preparing regulatory submissions to pave the way for North American commercialization as a food supplement, or equivalent, in each of the relevant jurisdictions.
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About Relay Medical Corp.
Relay Medical is a technology developer and innovator headquartered in Toronto, Canada focused on the development of novel technologies in the diagnostics and AI data science sectors.
Website: www.relaymedical.com
About Glow LifeTech Ltd.
Glow LifeTech is a Canadian-based biotechnology company focused on producing nutraceutical and cannabinoid-based products with dramatically enhanced bioavailability, absorption and effectiveness. Glow has rights to the groundbreaking, plant-based MyCell™ Technology delivery system, which transforms poorly absorbed natural compounds into enhanced water-compatible concentrates that unlock the full healing potential of the valuable compounds.
Website: www.glowlifetech.com
About Swiss PharmaCan AG/Micelle Technology AG
Micelle Technology AG, parent company of Swiss PharmaCan is a dynamic organization dedicated to R&D using natural active ingredients (i.e. vitamins and minerals) to improve human health. As one of the leading innovators of plant-based micelle concentrates, Micelle Technology AG offers a unique technology, which enables the company to harness the full potential of herbal active ingredients.
Website: www.swisspharmacan.ch
About MGC Pharmaceuticals Ltd.
MGC Pharma is a biopharma company with a “Nature to Medicine” strategy at the forefront of the emerging phytocannabinoid and plant derived medicine markets. The company’s mission is to build an innovative, global bio-pharma company providing standardised, affordable plant derived medicines of the highest regulatory compliance for targeted global markets.
Website: www.mgcpharma.com.au
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 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
[1] ArtemiC™ Full Trial Results: https://wcsecure.weblink.com.au/pdf/MXC/02322300.pdf
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