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NEW YORK — Relay Medical said on Monday that its HemoPalm subsidiary has entered into a binding letter of intent to acquire certain market rights to SARS-CoV-2 tests developed by Proprietary Innovation Labs.

The deal covers Proprietary Innovation's line of SARS-CoV-2 assays including its lateral flow chromatographic-based antibody and antigen tests, both of which are CE marked. The tests are suitable for point-of-care testing and provide results within 15 minutes, Relay said.

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