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Parallax Updates Progress on Proprietary COVID-19 Rapid Test

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Parallax Acquired Antigen And Antibodies Of COVID-19 Being Integrated Into Its Patented And FDA Approved Target Diagnostics Test Platform

NEW YORK, New York, March 24, 2020 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Parallax Health Sciences, Inc. (PRLX) (''Parallax'' or the ''Company''), an outcome-driven connected healthcare company, today announced that it has selected the antigens and antibodies that it will use as the markers for its rapid Coronavirus (“COVID-19”) screen test used on its FDA Cleared & Patented Target Diagnostics Test Platform.

“I am pleased to have this stage of the test development process behind us and look forward to getting into a lab and testing these COVID-19 markers on our Target cartridge,” stated Dr. David Stark, President of Parallax Diagnostics, Inc. Dr. Stark continued, “We understand that there is an immediate need for COVID-19 screen tests in the face of this historic pandemic, and believe that this proprietary test would be available at the earliest by summer. As we stated in an earlier communication, our COVID-19 test strategy included proprietary development of a COVID-19 rapid screen test on our patented and FDA approved test platform, or in conjunction with the acquisition or licensing of an existing rapid test to accelerate our delivery of the much needed COVID-19 test.”

Paul Arena, Chief Executive Officer of Parallax Health Sciences, Inc., stated, “We understand there are other companies getting COVID-19 tests to market, and we at Parallax welcome all companies who can help with this tragic pandemic.” Mr. Arena added, “We believe that our 4 stage platform, including (i) testing, (ii) data management and disease tracking, (iii) remote patient monitoring; and (iv) telehealth and behavioral intervention is a strong holistic solution to a pandemic such as the one we face today and will, sadly face in the near future, according to the experts forecasts. We are positioning our proprietary Target Analyzer along multiple paths in our pursuit of testing solutions for COVID-19 and we are currently negotiating with diagnostic firms in and outside of the U.S.”

About Parallax Diagnostics

Parallax Diagnostics is a bio-medical company and wholly owned subsidiary of Parallax Health Sciences, Inc. Parallax Diagnostics owns a line of 26 FDA approved, Point of Care diagnostic tests on a single platform in the area of infectious disease, cardiac, medical conditions, drugs of abuse, and pregnancy. Parallax Diagnostics is developing a novel, handheld diagnostic testing system that is simple, rapid and elegant, offering the potential to transform the diagnostic landscape by transitioning critical tests from the centralized lab directly to the hands of the physician or clinicians. Our focus is on tests that detect and/or monitor infectious diseases.

About Parallax Health Sciences

Parallax Health Sciences is a leading-edge technology, outcome-driven telehealth company that allows for cost-effective remote diagnosis, treatment and monitoring of patients through proprietary platforms of integrated products and services. The Company's interoperable novel applications provide patients point-of-care testing and monitoring with information communicated via internet-based mobile phone applications that are agnostic as to operating system and are built on highly sophisticated data analytics. Information is retrieved real-time by physicians who are monitoring patients with chronic diseases or through biometric feedback for health-related behavior modification, and is automated for integration into electronic health records. The Company's products and offerings capitalize on the digital transformation in healthcare for improved patient compliance, diagnosis and treatment, and support healthcare system cost savings and efficiencies. For more information, please visit www.parallaxhealthsciences.com or www.parallaxcare.com.

Forward-Looking Statements

This release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements regarding our expected future financial position, results of operations, cash flows, financing plans, business strategy, products and services, competitive positions, growth opportunities, plans and objectives of management for future operations, as well as statements that include words such as "anticipate," "if," "believe," "plan," "estimate," "expect," "intend," "may," "could," "should," "will," and other similar expressions are forward-looking statements. All forward-looking statements involve risks, uncertainties and contingencies, many of which are beyond our control, which may cause actual results, performance, or achievements to differ materially from anticipated results, performance, or achievements. Factors that may cause actual results to differ materially from those in the forward-looking statements include those set forth in our Form 10-K and other reports filed with the SEC. We are under no obligation to (and expressly disclaim any such obligation to) update or alter our forward-looking statements, whether as a result of new information, future events or otherwise.

Investor Contact:

Paul Arena, CEO


cell 404-915-8449

SOURCE: Parallax Health Sciences, Inc.