Catenae Innovation PLC Update - Cov-ID Project (6383L)
01 Mayo 2020 - 03:00AM
UK Regulatory
TIDMCTEA
RNS Number : 6383L
Catenae Innovation PLC
01 May 2020
1 May 2020
Catenae Innovation PLC
("Catenae", or the "Company")
Update - Cov-ID Project
Catenae Innovation PLC (AIM: CTEA), the AIM quoted provider of
digital media and technology, reports that, further to the
announcement of 17 April 2020, the Company has built an operational
prototype for the development of "Cov-ID", a GDPR compliant
identity documentation exchange system to record an individual's
Covid-19 test status through a mobile app that is intended to be
marketed to businesses and organisations. The Company's existing
technology has been further developed and has been repurposed and
enhanced to develop the operational prototype.
The Cov-ID project is a joint initiative by a consortium of
companies led by the Z/Yen Group. The platform is GDPR compliant
and provides a secure documentation exchange where individuals can
store a record of their Covid-19 test status. Catenae and the other
consortium members (Z/Yen Group, fm2x and SI Units) are in the
process of negotiating the proposed commercial terms of the Cov-ID
product.
It is expected that the project will enter the trialling and
finalisation phase of its development by 18 May 2020.
Although the prototype Cov-ID app has been developed, there is
no guarantee that it will be finalised nor enter the
commercialisation stage, nor that in the event that it is
commercialised, that any sales will be generated.
A further announcement will be made in due course.
Guy Meyer, Interim Chief Executive Officer, commented: "We are
pleased to have completed the first phase of the technical
development of the Cov-ID software and to have an operational
prototype that is ready to be tested. The software can play a role
in mitigating risk to business continuity and building resilience
for organisations.
"We are on track with the project and look forward to keeping
the market updated with further progress."
This announcement contains inside information for the purposes
of Article 7 of EU Regulation 596/2014. The person who arranged for
release of this announcement on behalf of the Company was Guy
Meyer, Interim Chief Executive Officer of the Company.
- Ends -
For further information please contact:
Catenae Innovation PLC +44 (0) 191 580 8545
Guy Meyer, Interim Chief Executive Officer
Cairn Financial Advisers LLP (Nominated Adviser) +44 (0)20 7213 0880
Liam Murray
Jo Turner
Brandon Hill Capital Limited Broker +44 (0) 20 3463 5000
Andy Gutmann +44 (0)78796 8313
Yellow Jersey PR (PR & IR) +44 (0)20 3004 9512
Sarah Hollins
Annabel Atkins
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END
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