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Relay to Rebrand as Scryb Inc. with Launch of Unified Platform

·6 min read

Toronto, Ontario--(Newsfile Corp. - December 3, 2021) - Relay Medical Corp. (CSE: RELA) (OTCQB: RYMDF) (FSE: EIY2) ("Relay" or the "Company") is pleased to announce that further to the release issued September 9, 2021, and special meeting on September 20, 2021 the Company is now set for the launch of the new name and brand 'Scryb Inc.' The pronunciation of Scryb is /skraɪb/, ("scribe"), and is a combination of "scry", meaning to predict, and "scribe" meaning to diligently document, two key components of the Company's methodologies and platform technology. In addition, the Company's Canadian Securities Exchange ("CSE") stock symbol will change to "SCYB".



Scryb Inc.

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The name change reflects a strategic evolution of the Company to combine its core competencies and existing technologies into one integrated platform, Scryb, to meet the growing needs of AI-enabled technology solutions for a broader, more diverse set of industries beyond medical. Scryb's core technology is now deployed commercially, and a crucial component of other ongoing developments:

  • Cybeats

  • Fionet

  • HemoPalm

  • Pharmatrac

  • Other disruptive applications in pipeline

Scryb is a platform that powers businesses and technologies with applied intelligence, real-time analytics, and actionable insights. The platform boasts proven adaptability across diverse markets, from digital health and diagnostics to cybersecurity and manufacturing. The cloud-based platform is composed of crucial elements including sensor technology, IoT, predictive analytics, and computer vision.

"We have accomplished many milestones under the Relay umbrella, and are now more excited than ever to bring our unified Scryb platform to market and capitalize on a more diverse set of commercial opportunities across industry sectors," said Yoav Raiter, CEO, Scryb Inc. "Scryb, our industry agnostic and adaptable software platform, is here to break boundaries and we are proud to introduce the new name and brand that will take the Company into the future."

In early 2020, the Company adapted its AI platform, previously designed for medication monitoring, to high frequency processing of rapid diagnostic tests (RDT). Along with its joint venture partner, the data solution has since been deployed with industry leaders around the world for diagnostics and tracking of infectious diseases.1

In March 2021, Scryb acquired the holistic IoT and software supply-chain cybersecurity company, Cybeats Technologies Inc., and has subsequently integrated critical aspects of the Scryb platform to apply additional intelligence to the already robust and disruptive solution. After several months of integration, Cybeats commercially launched and signed its first commercial engagement in July 2021 with a Canadian industry leader.

Scryb continues to focus on supporting the commercial activities of the Fionet product offering and the scale up of Cybeats operations to support ongoing development and commercial needs. In addition Scryb is working on several additional opportunities to apply the platform to other applications and market verticals.

Addressable Market Opportunity

Scryb boasts proven adaptability across diverse and rapidly growing markets, from digital health and diagnostics to cybersecurity and manufacturing. The digital health market was valued at $85 billion with an estimated 15% CAGR.2 The diagnostics market is valued at $40 billion.3 The machine vision market is growing at 45% per year4 and set to exceed $100 billion by 2027. With the addition of the manufacturing operations software market, the total addressable market for Scryb is in excess of $400 billion USD.5

Cybeats address IoT and supply chain security in sectors such as electric vehicles (EV), aerospace, critical infrastructure, medical devices and connected devices. The IoT security market alone is projected to grow at 31.2% CAGR to over $73 billion USD by 2026 and it is predicted there will be over 55 billion connected devices worldwide by 2025. Cybeats' total addressable cybersecurity market is valued at $160 billion, rapidly growing at 30% per annum.6

Scryb Inc.

Scryb is a platform that powers businesses and technologies with applied intelligence, real-time analytics, and actionable insights. The platform boasts proven adaptability across diverse markets, from digital health and diagnostics to cybersecurity and manufacturing. The cloud-based platform is composed of crucial elements including sensor technology, IoT, predictive analytics, and computer vision.

SubScryb to receive the latest updates at www.scryb.ai

Contact:
W. Clark Kent
President
Office. 647-872-9982
TF. 1-844-247-6633
Media Inquiries: media@relaymedical.com
Investor Relations: investor.relations@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 https://www.relaymedical.com/newsblog/2021/4/14/relay-medical-and-fio-partner-with-lifelabs-canadian-healthcare-leader-to-deploy-fionet-platform-for-covid-19-testing-nationwide
2 https://www.globenewswire.com/en/news-release/2021/09/02/2290548/0/en/Global-Report-on-Digital-Health-Market-Size-Valuation-Will-Reach-to-USD-220-94-Billion-by-2026-According-to-Facts-Factors.html
3 https://www.fortunebusinessinsights.com/industry-reports/point-of-care-diagnostics-market-101072
4 https://www.globenewswire.com/en/news-release/2021/08/19/2283644/0/en/AI-in-Computer-Vision-Market-size-worth-144-46-Billion-Globally-by-2028-at-45-64-CAGR-Verified-Market-Research.html
5 https://www.fortunebusinessinsights.com/manufacturing-operations-management-software-market-102713
6 https://www.grandviewresearch.com/industry-analysis/cyber-security-market

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/106564

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