Update - Cov-ID Project

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	[phone]
Guy Meyer, Interim Chief Executive Officer
Cairn Financial Advisers LLP (Nominated Adviser)	[phone]
Liam Murray Jo Turner
Brandon Hill Capital Limited Broker Andy Gutmann	[phone] [phone]
Yellow Jersey PR (PR & IR)	[phone]
Sarah Hollins Annabel Atkins

 

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