Relay's Cybeats Joins the Internet of Things Security Foundation

·6 min read

Toronto, Ontario--(Newsfile Corp. - July 28, 2021) - Relay Medical Corp. (CSE: RELA) (OTCQB: RYMDF) (FSE: EIY2) ("Relay" or the "Company"), is pleased to announce that its integrated cybersecurity platform Cybeats has joined the Internet of Things Security Foundation ("IoTSF" or the "Foundation") to support and champion the formulation of best practices for consumer and regulatory adoption of cybersecurity.

The IoTSF is a global non-profit organization with the mission to help secure the Internet of Things (IoT) and make it safe to connect. Amongst many of the IoTSF group activities, it composes and promotes cybersecurity best practice guidance, and maintains a comprehensive Compliance Framework of recommended steps for creating secure IoT products and services for providers, purchasers and policymakers. IoTSF is the 2nd of such standard creating bodies that Relay and Cybeats have become members of; the other foundation is the Global Standard for IoT Security (IoXT).1

Relay's Cybeats has joined as a member to leverage its cybersecurity expertise and amplify the influence of thought leaders Chuck Brooks2 and Chris Blask3 who are key members of the Company's Strategic Advisory Board. Cybeats is a leader in global cybersecurity and offers IoT device users and manufactures unparalleled cybersecurity starting from the design stage of a device and throughout the product's life cycle. The Cybeats' integrated cybersecurity platform provides security and trust in high-valued connected devices. Relay, through Cybeats, is working to secure the IoT with innovative and cost effective solutions targeting the global industry.

"With the Internet of Things expanding at an unprecedented rate, we want to take a leadership role in establishing important policy and guidelines that are facing our industry," said Yoav Raiter, CEO, Relay Medical Corp. "The Internet of Things Security Foundation brings together leading cybersecurity companies to work in concert with each other to bring intelligent thinking necessary for future policies and regulation for the IoT. We look forward to bringing the industry leading knowledge and expertise of our team at Cybeats to the forefront of policy making for cybersecurity."

‍Cybeats is an integrated security platform designed to secure and protect high-valued connected devices. Cybeats unique approach eliminates device downtime due to cyber-attacks and allows device manufacturers to develop and maintain secure and protected devices in a timely and cost-efficient manner. Cybeats is a wholly owned subsidiary of Relay Medical Corp.

"Cybeats offers a unique and cost-effective approach to cybersecurity and by joining the IoT Security Foundation we can work with other like-minded organizations to keep the IoT as safe and secure as possible," said Dmitry Raidman, CTO, Cybeats. "Our integrated IoT cybersecurity platform, enables our customers to identify, prioritize, and correct security gaps during the design phases of products, while securing the products continuously during operation. Overall our solution delivers fast and efficient remediation in case of cyberattacks. I'm confident the holistic security approach we have taken will be of value for the community and the members who follow the best practices and frameworks published by IoTSF."

Recent News

The Company recently announced an engagement with Canada's largest medical technology developer, StarFish Medical to provide the Cybeats platform for high-valued connected medical devices. The engagement includes the SBOM software to monitor security of the products being developed and can be licensed by StarFish clients for continued protection. The complete release can be found here:

https://www.relaymedical.com/newsblog/2021/7/22/relay-announces-engagement-with-canadian-medtech-leader-starfish-medical-to-provide-cybeats-integrated-security-platform-for-connected-medical-devices

Relay has also announced that its Cybeats cybersecurity platform now supports Android Operating Systems ("Android") for IoT devices in addition to the wide range of Linux systems supported by the integrated solution. The addition of Android device support significantly expands the Cybeats' addressable market and establishes the platform as one of the few IoT cybersecurity solutions to service the dominant operating system. The number of IoT devices connected today is estimated to be over 10 billion4 and projected to grow to more than 25 billion within the next decade. Historically Linux has been the dominant OS for simple connected devices but with the recent growth and adoption of more complex applications, Android has grown to control nearly 73% of the worldwide mobile OS market.[5] The complete release can be found here:

https://www.relaymedical.com/newsblog/2021/7/23/relays-cybeats-cybersecurity-platform-supports-android-operating-system-significantly-expanding-its-addressable-market-opportunity#_ftn1

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About the IoT Security Foundation

The Internet of Things Security Foundation (IoTSF) is the home of IoT security. It is a collaborative, non-profit, international response to the complex challenges posed by cybersecurity in the expansive hyper-connected IoT world. As such, IoTSF is the natural destination for IoT users and technology providers including IoT security professionals, IoT hardware and software product vendors, network operators, system specifiers, integrators, distributors, retailers, insurers, local authorities, government agencies and other stakeholders.

Website: www.iotsecurityfoundation.org

About Relay Medical Corp.

Relay Medical is a technology innovator headquartered in Toronto, Canada focused on the development of novel technologies in the diagnostics and AI data science and IoT security sectors.

Website: www.relaymedical.com

Contact:
Destine Lee
Media & Communications
Relay Medical Corp.
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.ioxtalliance.org/
2 https://www.relaymedical.com/blog/2021/5/4/relay-welcomes-global-cybersecurity-thought-leader-expert-and-influencer-chuck-brooks-to-cybeats-advisory-board
3 https://www.relaymedical.com/blog/2021/5/20/relay-welcomes-renowned-cybersecurity-expert-digital-bill-of-materials-inventor-chris-blask-to-advisory-board
4 https://dataprot.net/statistics/iot-statistics/
5 https://www.statista.com/statistics/272698/global-market-share-held-by-mobile-operating-systems-since-2009/

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/91389

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