Datametrex Enters Strategic Agreement to Help Provide for Processing of COVID-19 Tests for Canadian Companies
TORONTO, May 21, 2020 (GLOBE NEWSWIRE) — Datametrex AI Limited (the “Company” or “Datametrex”) (TSXV: DM, FSE: D4G, OTC: DTMXF) is pleased to announce that is has signed a Strategic Partnership and Development Agreement (the “Agreement”) with Transpharm Canada Inc. (“TCI”).
Under the term of the Agreement TCI will work with Datametrex on scoping out services and providing access to its 25,000 sq. ft state-of-the-art testing facility located in Toronto, ON, to provide support and testing services for COVID-19 testing kits that Datametrex has in its portfolio. Datametrex will be providing the COVID-19 test kits. TCI will be providing all other services including but not limited to the collection of specimens, transport of specimens, and processing test results.TCI will design, engineer, and develop a fully integrated suite of testing systems that will include in the field and lab testing protocols using TCI’s fully compliant Health Canada licensed Good Manufacturing Practice (“GMP”) manufacturing and testing facility. TCI lab has a current capacity to process 2,304 nucleic acid COVID-19 real-time detection kits (the “Kits”) every 24 hrs using CFX96 real-time PCR detection system machines and is scalable to over 10,000 test kits every 24 hrs.Transpharm will develop a Point of Care Diagnostic Kit System (the “TCI System”) with clear protocols of specimen collection, specimen handling, and specimen container labeling including the patient’s full name, date of collection, and one other unique identifier such as date of birth or government issued health card number. Transpharm will also develop a procedure focused around delivery related to specimen transport media tube protocols including to ensure cap on tube is tightly sealed, shipped at 2-8°C, 26-46°F to the TCI laboratory testing facility.Datametrex is committed to helping Canada and Canadians find a safe and secure way to get people out of lockdown and back to work. The Company first identified the need for high quality test kits back in April, since then, it has established relationships with four South Korean manufacturers of nucleic acid test kits. The Company quickly identified that both public and private corporations are not fully equipped to administer and process the test kits on their own. As a result, the Company quickly sourced a qualified lab testing company to partner with that will provide customers with a turnkey solution to administer tests efficiently, safely, and accurately. The Company believes testing is going to be key to re-opening the economy in a safe fashion, and also believes in providing Canadians with the best solution. “By participating in this project, Datametrex reaffirms its commitment to helping it customers, shareholders, families, and the Canadian public. This project hopes to aid in the reopening of businesses, travel, places of worship, community spaces, and social and cultural events in a safe and economic way,” said Marshall Gunter, CEO of Datametrex.Dr. Alexander MacGregor, founder and President of TCI, stated, “Transpharm is pleased to join in the COVID-19 fight with Datametrex and provide a world class testing facility for this endeavour. This world pandemic poses an unprecedented threat to the way that most people live their daily lives. There are several obvious steps we can take to ensure that no one must choose between their health and leaving their homes, and that begins with testing. Transpharm has the people, the equipment, and world class lab space to meet the enormous demand coming and to get the job done.”About Transpharm Canada IncTranspharm Canada Inc. provides pharmaceutical education, technology, and research opportunities to students through its subsidiary, Toronto Institute of Pharmaceutical Technology, North America’s premier pharmaceutical training institute. The facility is also fully compliant Health Canada licensed Good Manufacturing Practice (“GMP”) manufacturing and testing facility and is a full-service clinical development business that provides clinical trial services to biotechnology companies. Additional information on TIPT is available at www.tipt.comAbout DatametrexDatametrex AI Limited is a technology focused company with exposure to Artificial Intelligence and Machine Learning through its wholly owned subsidiary, Nexalogy (www.nexalogy.com).Additional information on Datametrex is available at www.datametrex.comFor further information, please contact:Marshall Gunter – CEO
Phone: (514) 295-2300
Email: [email protected]Neither the TSX Venture Exchange nor it’s Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this releaseForward-Looking StatementsThis news release contains “forward-looking information” within the meaning of applicable securities laws. All statements contained herein that are not clearly historical in nature may constitute forward-looking information. In some cases, forward-looking information can be identified by words or phrases such as “may”, “will”, “expect”, “likely”, “should”, “would”, “plan”, “anticipate”, “intend”, “potential”, “proposed”, “estimate”, “believe” or the negative of these terms, or other similar words, expressions and grammatical variations thereof, or statements that certain events or conditions “may” or “will” happen, or by discussions of strategy.Readers are cautioned to consider these and other factors, uncertainties, and potential events carefully and not to put undue reliance on forward-looking information. The forward-looking information contained herein is made as of the date of this press release and is based on the beliefs, estimates, expectations, and opinions of management on the date such forward-looking information is made. The Company undertakes no obligation to update or revise any forward-looking information, whether as a result of new information, estimates or opinions, future events or results or otherwise or to explain any material difference between subsequent actual events and such forward-looking information, except as required by applicable law.