Universal Proptech Inc. (TSXV: UPI) (OTCQB: UPIPF) (FSE: 8LH) ("UPI" or the "Company") is pleased to announce that ISBRG Corp., in which UPI owns a minority interest (see press release dated February 18, 2021), announced progress related to the ongoing development of its COVID-19 diagnostic device - SpotLight-19©. In addition to ISBRG's receipt of a Health Canada Investigational Testing Authorization (ITA), and the start of ISBRG's clinical trial, ISBRG has announced the addition of two new Advisory Board members, as well as the receipt of advisory services and conditional research and development funding from the National Research Council of Canada Industrial Research Assistance Program ("NRC IRAP").
"As an investor in ISBRG, we are thrilled with the commencement of the SpotLight-19© Clinical Trial, especially as it involves an exit point for people leaving Canada," commented Chris Hazelton, Chief Executive Officer, Universal Proptech Inc.
ISBRG's SpotLight-19© is designed to leverage advancements in optics, artificial intelligence, and medical know-how to detect the presence of infection caused by multiple variants of the COVID-19 virus. SpotLight-19© uses light to scan the fingertip. The speed (less than 20-seconds) and cost of the test (approximately one dollar), combined with the non-invasive nature of the test (no body fluid of any kind is required), has the potential to test large numbers of people without the inconvenient delays and environmental damage associated with current chemical reagent-based tests.
With R&D funding support from NRC IRAP, ISBRG will initiate an investigational clinical trial of its prototype SpotLight-19© diagnostic technology at a Canadian border location. This follows ISBRG's recent receipt of Investigational Testing Authorization (ITA) from Health Canada.
NewAdvisory Board Members
ISBRG is pleased to announce that Mr. Ned Imbrie and Mr. Stephen Longfield have agreed to join ISBRG's Advisory Board. Ned was VP Global Strategy and Business Development for Siemens Healthcare. Stephen is the former VP Global Procurement of PepsiCo and is currently President of Tigerhawk Professional Services.
ISBRG's Board of Advisors includes:
- Commander Chris Hadfield, internationally known author and astronaut;
- Michael Kelly, former Executive VP of Thousand Oaks based Amgen;
- Peter Bowler, the former President and CEO of Dallas based American Eagle Airlines;
- Irene d'Entremont, Order of Canada recipient and former Emera Board Member;
- Sylvia Augaitis, Executive Director - Wine Marketing Association of Ontario (VQA);
- Allan MacDougall, former CSIS Director General, Global Operations; and
- William Sutherland, VP Business Development - Kilmer Group.
According to Grandview Research, the global COVID-19 diagnostics market size is estimated at USD$84.4 billion in 2020 and is expected to expand at a compounded annual growth rate (CAGR) of 3.1% from 2021 to 2027.
About ISBRG and SpotLight-19©
The ISBRG artificial intelligence and optics-based technology platform is being developed by a team of physicians, Ai specialists, product designers, communication specialists, an experienced and talented Advisory Board, and an alliance with one of North America's leading optical centres of excellence. ISBRG's technology platform has numerous applications in various stages of development, including but not limited to: SpotLight-19©, SpotLight-THC©, and SpotLight-HealthCheck©.
About Universal Proptech Inc.
Universal Proptech Inc. (TSXV: UPI) (OTCQB: UPIPF) (FSE: 8LH) is a leading building innovation company, selecting, integrating, deploying, and maintaining PropTech in healthy buildings. As trusted advisors, we provide holistic evidence-driven solutions and services for building developers, owners, and operators in Canada. UPI operates through its wholly owned subsidiary, VCI Controls Inc. ("VCI"), a leading supplier and integrator of PropTech healthy building solutions and services. VCI is an industry leader in the acquisition and deployment of intelligent building technology, including the integration of all building systems utilizing the latest in communications technologies and standards. VCI's business focuses on digital controls and mechanical services, performance monitoring, and energy efficiency solutions.
Certain information provided in this press release constitutes forward-looking statements and information within the meaning of applicable securities laws. Forward-looking information typically contains statements with words such as "anticipate", "believe", "forecast", expect", "plan", "intend", "estimate", "propose", "project", or similar words suggesting future outcomes. The Company cautions readers and prospective investors in the Company's securities not to place undue reliance on forward-looking information as, by its nature, it is based on current expectations regarding future events that involve a number of assumptions, inherent risks and uncertainties, which could cause actual results to differ materially from those anticipated by the Company.
The forward-looking information included herein is expressly qualified in its entirety by this cautionary statement. The forward-looking information included herein is made as of the date hereof and the Company assumes no obligation to update or revise any forward-looking information to reflect new events or circumstances, except as required by law.
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