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Universal PropTech Inc. (TSXV: UPI) ("UPI" or the "Company") is pleased to announce that it has completed an investment in ISBRG Corp. ("ISBRG") for a minority interest, and secured agency rights to their SpotLight-19© Technology.
ISBRG is a data analytics company which has developed the SpotLight technology platform designed to generate comprehensive health care data non-invasively within seconds at a nominal incremental cost per test. SpotLight-19© is non-invasive, and ISBRG is undertaking trials to determine efficacy in detecting Covid-19. In addition to its minority investment, UPI will act as the exclusive sales agent for the SpotLight-19© technology and other future platform offerings for the government and education sectors in Canada.
"We are proud and excited to be a strategic investor in ISBRG," stated Chris Hazelton, President & CEO of Universal PropTech. "We have been committed to ensuring safe and healthy workspaces for our clients and facilitating the return of workers to workspaces in the face of the pandemic, and SpotLight-19© as a rapid, inexpensive and reusable testing platform to ensure safe work environments, could be a catalyst to opening global economies. Upon completion of trials and relevant governmental approvals, Universal PropTech expects that it will aggressively market SpotLight-19© products and supporting services to all governmental and education providers across Canada."
"Our technology stems from the belief that technological innovation and strategic partnerships will restore economic growth globally in the midst of a pandemic that is challenging the speed, accuracy and effectiveness of existing tests" stated Duncan MacIntyre, Founder and CEO ISBRG.
ISBRG's SpotLight-19© technology platform has proof of concept, and the funding now enables trials to determine the sensitivity and specificity of the device which will be compared to the accuracy of PCR tests in upcoming trials which are subject to authorization by Health Canada and REB review. Several published studies support ISBRG's proof of concept and the application of light to detect viruses has been well documented in the past, see (https://pubmed.ncbi.nlm.nih.gov/29806030/).
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[1].
ISBRG headquartered in Mississauga, Ontario, developed its SpotLight-19© technology platform to monitor health - including a Covid-19 state of infection - using patent pending proprietary applications utilizing machine learning, optics and non-invasive interface design.
SpotLight-19© technology platform features:
- a non-invasive scan of a person's finger with a harmless beam of light
- designed to provide confirmation of Covid-19 infection in less than 1 minute
- low-cost testing.
ISBRG's SpotLight-19© technology is intended for use in large venues, such as:
- airports
- border crossings
- government buildings
- schools and campuses
- entertainment complexes, etc.
Should your organization wish to express an interest in procuring SpotLight-19©, please link and complete the Contact form. https://universalproptech.com/
ISBRG founder Duncan MacIntyre, is the former President of ICI in Canada and Latin America, the founding President of the National Quality Institute and co-author of more than 25 US patents in the field of spectroscopy. He has assembled a team of medical doctors, Ai specialists, hardware designers, internationally recognized optics experts and an ISBRG Board of Advisors that excel in their respective fields. The Board of Advisors includes:
- former Global VP of AMGEN - Michael Kelly
- former Canadian Astronaut and Author - Commander Chris Hadfield
- former Director of Emera and Order of Canada appointee - Irene d'Entremont
- former President of American Eagle Airlines - Peter Bowler
- former Director General Global Operations CSIS - Allan MacDougall
Michael Kelly, former AMGEN Global VP, Thousand Oaks, California, states: "I became involved in ISBRG because of SpotLight-19©'s Ai and optical design innovations which, subject to confirmation in these trials, have the potential to significantly impact the global economic recovery more than any other technology available today".
Agency Terms
UPI will have the exclusive rights to sell SpotLight-19© to any and all governmental facilities in Canada (subject to the exclusion of certain segments), including federal, provincial, territorial and municipal facilities, as well as Canadian primary, secondary and post-secondary education facilities (both private and public).
ISBRG will pay UPI a defined commission on the annual sub license fee paid by each customer, and a commission on each test fee.
About Universal PropTech Inc.
Universal PropTech Inc. (TSXV: UPI) 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.
With headquarters in Toronto, Universal PropTech Inc. has offices across Canada including, Halifax, Montreal, and Ottawa. For more information, visit www.universalproptech.com.
Contact Information
Universal PropTech Inc.
Chris Hazelton
President and Chief Executive Officer
chazelton@universalproptech.com
(647) 300-2957
Austin MacIntyre
ISBRG Corp
amacintyre@isbrgcorp.com
or
Andrew Balfour
Rubicon Strategy Group
andrew@rubiconstrategy.com
Forward Looking Statements
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.
Neither the TSX Venture Exchange ("Exchange"), nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
[1]https://www.grandviewresearch.com/industry-analysis/covid-19-diagnostics-market
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/74845
