Global Care Capital Inc. Closes Acquisition of ViraxClear and Portfolio Company, ViraxClear, Receives FDA Emergency Use Authorization and CE Marking
VANCOUVER, British Columbia, April 20, 2020 (GLOBE NEWSWIRE) — Global Care Capital Corp. (CSE: HLTH, OTC: RSCZF, FRANKFURT: L6V1) (the “Company” or “Global Care”) is pleased to announce that ViraxClear, has obtained Emergency Use Authorization (EUA) by the Food and Drug Administration (“FDA”) for the COVID-19 test kits it distributes and markets. ViraxClear’s tests can be used by clinical laboratories certified under Clinical Laboratory Improvement Amendments (CLIA). ViraxClear’s COVID-19 test kit also has CE marking allowing sales to the European Community, and to other global markets that accept a CE marking as valid regulatory approval following routine local product registration.
The Company has conducted normal course due diligence to verify the FDA (EUA) and CE marking approvals for the antibody test kits that ViraxClear markets and distributes and its manufacturing partner, Shanghai Liangrun Biomedicine Technology Co. Ltd. manufactures. The Company will keep the market apprised of ongoing aggregate purchase orders for test kits received by ViraxClear, secured by customer deposit, in excess of US$100,000. Alex Somjen, president and chief executive officer of Global Care states: “We believe that this authorization is a significant step in helping this COVID-19 test to reach an even wider audience. We believe that serology tests are a potentially powerful tool for identifying anyone who has been infected, whether they have symptoms or not. Many experts agree that accessibility of widespread testing is an important element to ‘flattening the curve’. We look forward to ViraxClear pursuing their goal of increasing the availability of advanced and cost-effective COVID-19 testing solutions across the globe.”The company is not making any express or implied claims that it has the ability to treat the COVID-19 virus at this time.The Company also announces that its acquisition of ViralClear Rapid Test Corp (d/b/a ViraxClear), closed on April 17th, 2020, under the same terms set out in the Company’s news release dated April 16, 2020.The Company is fully disclosed of all material news at this time and has not published any paid for material.The Company wishes to note that the trade name VirexClear was used in the Company’s news release dated April 16th, 2020. The Company confirms that the correct trade name is ViraxClear. The Company is also pleased to announce the appointment of Hybrid Financial on April 15th, 2020, as its Investor Relations Advisor, effective immediately. The agreement with Hybrid Financial provides a monthly fee of CAD15,000 for an initial term of six months. About ViraxClearViraxClear focuses on commercializing novel products that address significant healthcare needs with a specific target on the novel coronavirus (COVID-19). The company’s main focus is marketing its ViraxClear Rapid IgM-IgG Combined Antibody Test. The ViraxClear Rapid IgM-IgG Combined Antibody Test for COVID-19 is a lateral flow immunoassay used to qualitatively detect both early and late marker IgG/IgM antibodies.About Global CareGlobal Care Capital is a global investment company which specializes in providing early stage financing to private and public companies. The Company engages in new, early stage investment opportunities in previously underdeveloped assets and obtaining positions in early stage investment opportunities that adequately reflect the risk profile.GLOBAL CARE CAPITAL CORP.: Company Contact: Alex Somjen, President & CEOasomjen@globalcarecapital.comTel: 416-319-5744Neither the CSE nor its regulation services provider accepts responsibility for the adequacy or accuracy of this release.This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States of America. The securities have not been and will not be registered under the United States Securities Act of 1933 (the “1933 Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons (as defined in the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration is available.Forward-Looking Information: This news release includes certain statements that may be deemed “forward-looking statements”. The use of any of the words “anticipate”, “continue”, “estimate”, “expect”, “may”, “will”, “would”, “project”, “should”, “believe” and similar expressions are intended to identify forward-looking statements. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. These statements speak only as of the date of this News Release. Actual results could differ materially from those currently anticipated due to a number of factors and risks including various risk factors discussed in the Company’s disclosure documents which can be found under the Company’s profile on www.sedar.com