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VST.ca Victory Square portfolio to start COVID testing trials

2020-08-27 12:50 ET - News Release


Mr. Shafin Tejani reports

VICTORY SQUARE TECHNOLOGIES PORTFOLIO COMPANY IS THE FIRST TO BE APPROVED BY THE SÃO PAULO STATE GOVERNMENT COVID-19 INNOVATION PROGRAMME

Victory Square Health Inc./Safetest, a portfolio company of Victory Square Technologies Inc., has received approval for its COVID-19 testing product from the Sao Paulo state government for immediate trials and application in the state to start on Aug. 28, 2020.

The Analysis Committee comprised of the Economic Development Secretariat and published in the official Gazette of the State of Sao Paulo met on July 31, 2020 with the objective of evaluating the proposals from companies vying for the opportunity to have their Covid-19 products approved.

The proposals were analyzed in three separate phases to select a Covid-19 test that is reliable and cost effective for the purposes of being used in a public health program. Victory Square Health/Safetest was selected as their first choice.

Stage one consisted of an initial screening to analyze the adequacy of the product. The second stage required the opinions from registered technicians while also analyzing proposed products. The third and final stage verified the relevance, adequacy, and merit of the proponent.

In this program, VS Health/Safetest will have access to specialists from Hospital das Clinicas, the Sao Paulo State Health Department, the Sao Paulo Institute of Technological Research - IPT and the Sao Paulo State Data Processing Company - PRODESP, for guidance and support in the implementation of pilot projects, in addition to the use of laboratory infrastructure. Also, will apply the solution in real-life environments to validate the solution at Hospital das Clinicas and other agencies, providing scalability in the public health system.

As of August 26, 2020 Brazil has recorded 3.72 million Covid 19 cases with 118,000 deaths. The state of Sao Paulo has reported 776,000 Covid-19 cases and 29,194 deaths . The Sao Paolo State figures represent 27% of the entire Covid-19 cases and deaths in Brazil.

This initial approval of the Safetest Covid-19 antibody test by The Sao Paulo Government will give the company an exclusive start for application in Sao Paulo and for opportunities for further growth and contracts, financing, and related expansion of their exclusive product. Victory Square Health/Safetest's Covid-19{ဟ ™} test products were featured in Forbes Brasil (https://forbes.com.br/) in June 2020.

Disclaimer:

The Company is not making any express or implied claims that its product has the ability to eliminate, cure or contain the Covid-19 (or SARS-2 Coronavirus) at this time.

ABOUT VICTORY SQUARE TECHNOLOGIES INC. Victory Square (VST) builds, acquires and invests in promising startups, then provides the senior leadership and resources needed to fast-track growth. The result: rapid scale-up and monetization, with a solid track record of public and private exits. VST's sweet spot is the cutting-edge tech that's shaping the 4th Industrial Revolution. Our portfolio consists of 20 global companies using AI, VR/AR and blockchain to disrupt sectors as diverse as fintech, insurance, health and gaming. What we do differently for startups

VST isn't just another investor. With real skin in the game, we're committed to ensuring each company in our portfolio succeeds. Our secret sauce starts with selecting startups that have real solutions, not just ideas. We pair you with senior talent in product, engineering, customer acquisition and more. Then we let you do what you do best {᷈ —} build, innovate and disrupt. In 24-36 months, you'll scale and be ready to monetize. What we do differently for investors.

We seek Safe Harbor.

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