Reliance inks USD 15 mn deal with Israeli firm for virus testing kits

“It takes a few seconds to get the result,” said BOH’s CEO, Arie Laor. The tests conducted by the company so far have given back results in less than a minute, he added.

As per the agreement, the Indian corporate giant will purchase hundreds of systems from
the Israeli company in a deal valued at $15 million and will use them to conduct millions of tests a month at a cost of $10 million per month, business portal Calcalist reported earlier.

Reliance will also lead research of the system in India and will distribute the platform throughout the country and in the Far East, it added.

BOH is said to have developed a breath test system that identifies COVID-19 at a success rate of over 95 per cent.

Preliminary results from clinical trials it is conducting with Israeli hospitals Hadassah Medical Center and the Sheba Medical Center at Tel HaShomer have shown a success rate of 98 per cent compared to the standard PCR test authorised by global medical organisations.

The development of BOH’s system began two years ago and was initially meant to provide
early detection for cancer, Alzheimer’s, and lung disease.

The scientists decided to focus on adapting the system to detect COVID-19 following the outbreak of the pandemic, recognising it could be a crucial tool in the fight against the virus until the arrival of the vaccines.

RIL rebrands sports & lifestyle biz as RISE Worldwide

Reliance Industries Ltd (RIL) has announced the rebranding of its sports and lifestyle business to "RISE Worldwide Ltd" as it ventures into the burgeoning industry in the domestic as well as global markets.

It will continue with the full portfolio of owned and operated brand properties formerly under the banner of IMG-Reliance, it said. The transition as an independent brand identity is aimed at enabling its various verticals currently within the sports and lifestyle businesses, autonomy to operate and create industry driving strategies.