UNIVERSAL PROPTECH SECURES DEFINED AGENCY RIGHTS FOR ISBRG CORP.'S SPOTLIGHT-19(C) TECHNOLOGY
285UNIVERSAL PROPTECH SECURES DEFINED AGENCY RIGHTS FOR ISBRG CORP.'S SPOTLIGHT-19(C) TECHNOLOGY - RICH TV LIVE - February 18, 2021 - 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.
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.
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