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    UPI   CA91380M1005

UNIVERSAL PROPTECH INC.

(UPI)
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Universal PropTech Inc. Provides Update on SpotLight-19(C) - Designed to Detect COVID-19 in Under 20 Seconds and at a Cost of Approximately $1 Per Test

03/09/2021 | 09:30am EDT

Toronto, Ontario--(Newsfile Corp. - March 9, 2021) -  Universal PropTech Inc. (TSXV:UPI) (FSE:8LH) ("UPI" or the "Company") is pleased to announced that ISBRG Corp ("ISBRG") has posted a number of updates on their website (www.isbrgcorp.com) regarding their SpotLight-19© Technology including updating the expected COVID-19 detection time to under 20 seconds, at an approximate cost of $1 per COVID-19 test, an expanded list of solutions, and adding an additional advisor to the Advisory Board.

ISBRG's SpotLight-19© technology leverages advancements in optics and artificial intelligence to define a state of COVID-19 infection.

SpotLight-19© (which upon testing to establish specificity and sensitivity ISBRG intends to submit for regulatory approval) is designed to screen for a unique infectious state - within 20 seconds of scanning a fingertip with light. ISBRG is undertaking trials to determine SpotLight-19©'s efficacy in detecting COVID-19, and if proven effective, will be subject to further regulatory approvals before it would be commercially available.

The speed and estimated cost of the test (approximately one dollar), combined with the non-invasive nature of light (no body fluid of any kind is required), is intended to accommodate the testing of large numbers of people without the inconvenient delays and environmental damage associated with current chemical reagent-based tests.

Below is an image of a finger over the beam of light from ISBRG Corp's SpotLight-19 device.

Cannot view this image? Visit: https://orders.newsfilecorp.com/files/5341/76555_e6bb61ceb4a639fe_002.jpg


 ISBRG Corp's SpotLight-19 device

To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/5341/76555_e6bb61ceb4a639fe_002full.jpg

"We are very excited that ISBRG has begun to inform the world of the high expectations for SpotLight-19," commented Chris Hazelton, President and CEO of UPI. "Pending further testing and submission for regulatory approval, a 20-second COVID-19 test will open the global economy, and at an approximate cost of $1 per test, will enable governments around the world to afford and adopt rapid testing for COVID-19. We look forward to the results of ISBRG's clinical trials and we have high hopes for its success. Once shown to be effective in testing for COVID-19, we expect other applications to follow."

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].

In addition, the ISBRG website adds that ISBRG's technology is designed for other applications, including for viral infection - screening technology to detect unique infections, including COVID-19; drug impairment - defining a unique state of impairment (such as THC); athletic fitness - defining a state of optimal fitness performance; nutritional health - defining the impact of dietary and / or supplement choices; healthy aging - defining the impact of gradual lifestyle changes and aging; and adolescent health - defining the impact of early stage lifestyle, exercise and nutrition decisions.

Should your organization wish to express an interest in procuring SpotLight-19©, please link and complete the Contact form. https://universalproptech.com/.

ISBRG reports an updated Board of Advisors, which 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
  • Vice President, Business Development Kilmer Group - William Sutherland

"We are confident in the management of ISBRG and their ability to bring solutions to market, and in the coming week(s), await their announcement of strategic funding partners and process for SpotLight-19 regulatory approvals," commented Frank Carnevale, Chief Growth Officer of UPI. "UPI is developing go-to-market growth strategies that incorporate an aggressive sales and pull-through campaign with customers across Canada, leveraging SpotLight-19."

See also UPI's press release dated February 18, 2021 in respect of UPI's investment in ISBRG.

About Universal PropTech Inc.

Universal PropTech Inc. (TSXV: UPI) (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.

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/76555


ę Newsfilecorp 2021
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Financials
Sales 2020 9,94 M 8,02 M 8,02 M
Net income 2020 -1,18 M -0,95 M -0,95 M
Net Debt 2020 0,54 M 0,43 M 0,43 M
P/E ratio 2020 -1,41x
Yield 2020 -
Capitalization 16,2 M 13,1 M 13,1 M
EV / Sales 2019 0,19x
EV / Sales 2020 0,22x
Nbr of Employees 70
Free-Float 59,3%
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Managers and Directors
NameTitle
Christopher Hazelton President, Chief Executive Officer & Director
Keith Li Chief Financial Officer
Al Quong Director
Daniel Cohen Director
Frank Carnevale Chief Growth Officer
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