Catenae joins Consortium on Cov-ID Project

17 April 2020

 

Catenae Innovation PLC

 

("Catenae", or the "Company")

 

Catenae joins Consortium on Cov-ID Project

 

Catenae Innovation PLC (AIM: CTEA), the AIM quoted provider of digital media and technology, today announces that it has joined a consortium led by Z/Yen Group ("Z/Yen") with the objective of building a GDPR compliant identity documentation exchange system, "Cov-ID", to record an individual's Covid-19 test status. Details of the project can be found at https://www.chainzy.com/case-studies/cov-id-project/

The Cov-ID 'digital passport' would record both swab tests (active virus) and serological tests (antibody) and enable people to easily share their status - unexposed, active and recovered - in any fast, secure digital medium. The benefit is an authoritative way for specific groups to know that they can responsibly allow people to congregate at work or in social settings. The vast testing information being compiled can be shared with controls that ensure individuals remain in charge of their data. The Cov-ID system will use an 'internet of record' Smart Ledger (aka blockchain) identity documentation platform called ChainZy and a digital identity product IDChainZ. Both systems were developed by Z/Yen, the City of London's leading commercial think-tank, which has significant expertise in health and software development, running the software and timestamping for  clinical assessment trials worldwide.

The Cov-ID Project Technical mobilisation should occur over the next 2 week period, with a prototype, testing and finalisation stage occurring in the following 2 week period. 

Catenae is an intellectual property client of Z/Yen using ChainZy for its OnSite products and will provide expertise and Catenae's own propriety technology which is currently deployed across the Sporting, Man-Guarding and Facilities Management sectors.

About Z/Yen Group

Z/Yen was founded in 1994 to promote societal advance through better finance and technology. Z/Yen has built its practice around a core of high-powered project managers, supported by experienced technical specialists so that clients get expertise they need, rather than just resources available.  The firm is headquartered in London, but Z/Yen is committed to the 'virtual office' concept and is an intense user of technology in order to improve flexibility and benefit staff. Z/Yen has 25 full-time-equivalent staff and over 300 associate experts.  Z/Yen people share significantly in the benefits of success and Z/Yen seeks to develop a supportive environment in which professionals from a variety of disciplines can flourish.

 

Consortium members

Other members of the consortium are:-

_-     fm2x, a specialist software provider working with Z/Yen for over 25 years providing secure systems to the Cabinet Office and running youthinmind's systems, handling over 15 million clinical assessments per year.

_-   SI Units, a data science company of young researchers specialising in bespoke projects connecting interdisciplinary expertise providing novel forecasts, using machine learning, artificial intelligence, data science and physics.

 

There is no guarantee that the Cov-ID product will be finalised nor enter the commercialisation stage, nor that in the event that it is commercialised, that the commercial terms will be favourable to the Company.

 

Guy Meyer, Interim Chief Executive Officer, Catenae, said: "We are very pleased to be part of this fast-moving dynamic consortium developing such an exciting, innovative and relevant product utilising our combined technology expertise. The Cov-ID digital passport will allow this testing data to be available simply on a fast, reliable and secure controlled exchange in real-time. User participation needs to be from the ground up and not imposed top down. To that end, the social and economic benefits to users needs to be compelling as society emerges from current restrictions. Clearly these benefits of enabling people to re-enter the workplace or social settings are enormous.

 

We look forward to updating the market as the project progresses. "

 

 

Professor Michael Mainelli, Executive Chairman, Z/Yen Group, said:

"We are delighted to welcome Catenae to this consortium.  There are many suggestions for handling the return to normality safely, and our proposal for an open source architecture to help provide solid evidence of exposure, simply, reliably, and in line with privacy concerns could help not just with covid-19 but also other identity & documentation exchange.  Catenae's experience in on-site validation is invaluable to our consortium."

 

- Ends -

 

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.

 

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
Andrew Gutmann	+44 (0)7879 681313
Yellow Jersey PR (PR & IR)	+44 (0)20 3004 9512
Sarah Hollins Annabel Atkins

 

 

Notes to editors:

 

For further information on the Cov-ID Project and consortium please see link below:

 

https://www.chainzy.com/case-studies/cov-id-project/

 

 

 

 

Forward-Looking Statements

Certain statements made in this announcement are forward-looking statements. These forward-looking statements are not historical facts but rather are based on the Company's current expectations, estimates, and projections about its industry; its beliefs; and assumptions. Words such as 'anticipates,' 'expects,' 'intends,' 'plans,' 'believes,' 'seeks,' 'estimates,' and similar expressions are intended to identify forward-looking statements. These statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties, and other factors, some of which are beyond the Company's control, are difficult to predict, and could cause actual results to differ materially from those expressed or forecasted in the forward-looking statements.

The Company cautions security holders and prospective security holders not to place undue reliance on these forward-looking statements, which reflect the view of the Company only as of the date of this announcement. The forward-looking statements made in this announcement relate only to events as of the date on which the statements are made. The Company will not undertake any obligation to release publicly any revisions or updates to these forward-looking statements to reflect events, circumstances, or unanticipated events occurring after the date of this announcement except as required by law or by any appropriate regulatory authority.