- Rockley and Medtronic to enter development partnership
involving newly announced Bioptx™ biomarker sensing platform
- Companies partner to jointly develop regulated wearable devices
for proactive and continuous monitoring
Rockley Photonics Holdings Limited (NYSE: RKLY) (“the Company”
or “Rockley”), a global leader in photonics-based health monitoring
and communications solutions, today announced that it has agreed to
enter a development partnership with Medtronic, a global leader in
healthcare technology. The two companies plan to collaborate to
bring Rockley’s recently announced Bioptx™ biomarker sensing
platform into Medtronic’s solutions for use across various
healthcare settings.
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Rockley Bioptx Biosensing Wristband
(Photo: Business Wire)
Rockley’s biosensing technology is expected to expand the
capabilities of wearable medtech devices by miniaturizing the
measurement and analysis of a range of biomarkers into a compact
form factor. These advances mean that a single wearable device
could monitor multiple crucial biomarkers – including core body
temperature, blood pressure, body hydration, alcohol, lactate, and
glucose trends, among others. The Bioptx platform offers an
end-to-end sensing solution that integrates cloud analytics and
artificial intelligence (AI) to potentially deliver a holistic
assessment of a variety of conditions.
The partnership with Medtronic builds on the societal shift from
reactive to proactive healthcare by potentially enabling
round-the-clock, real-time, non-invasive monitoring of a person’s
health and well-being, thereby empowering clinicians to personalize
care with actionable data.
Dr. Andrew Rickman, chairman and chief executive officer of
Rockley, said, “This partnership combines Medtronic’s exceptional
strength in providing in-patient care with Rockley’s expertise in
wearable, remote monitoring. I believe that this collaboration will
bring to life our vision of giving people better insights into
their health and well-being. We are excited about the potential for
this partnership to herald the next generation of wearable devices
and deliver a complete lifecycle of patient care.”
More information about Rockley’s digital health monitoring
solution is available here:
https://rockleyphotonics.com/healthcare-sensing.
About Rockley Photonics A global leader in photonics-based
health monitoring and communications solutions, Rockley Photonics
is developing a comprehensive range of photonic integrated circuits
and associated modules, sensors, and full-stack solutions. From
next-generation sensing platforms specifically designed for mobile
health monitoring and machine vision to high-speed, high-volume
solutions for data communications, Rockley is laying the foundation
for a new generation of applications across multiple industries.
Rockley believes that photonics will eventually become as pervasive
as micro-electronics, and it has developed a platform with the
power and flexibility needed to address both mass markets and a
wide variety of vertical applications.
Formed in 2013, Rockley is uniquely positioned to support
hyper-scale manufacturing and address a multitude of high-volume
markets. Rockley has partnered with numerous tier-1 customers
across a diverse range of industries to deliver the complex optical
systems required to bring transformational products to market.
To learn more about Rockley, visit rockleyphotonics.com.
Cautionary Note Regarding Forward-Looking Statements Statements
in this press release that are not historical facts constitute
“forward-looking statements” for purposes of the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995.
These forward-looking statements include statements regarding
Rockley’s future expectations, beliefs, plans, objectives, and
assumptions regarding future events or performance. The words
“accelerate,” “advance,” “allow,” “anticipate,” “believe,” “can,”
“capability,” “continue,” “could,” “develop,” “enable,” “estimate,”
“eventual,” “expand, “expect,” “focus,” “forward,” “future,”
“goal,” “intend,” “may,” “might,” “opportunity,” “outlook,” “plan,”
“possible,” “position,” “potential,” “predict,” “project,”
“revolutionize,” “seem,” “should,” “trend,” “vision,” “will,”
“would” or other terms that predict or indicate future events,
trends, or expectations, and similar expressions or the negative of
such expressions may identify forward-looking statements, but the
absence of these words or terms does not mean that a statement is
not forward-looking. Forward-looking statements in this press
release include, but are not limited to, statements regarding the
following: (a) the anticipated benefits of the commercial sales and
development agreement between Rockley and Medtronic, including the
anticipated collaboration to bring Rockley’s Bioptx™ biomarker
sensing platform into Medtronic’s patient monitoring ecosystem, the
belief that this collaboration will provide people with better
insights into their health and well-being, and the potential for it
to herald the next generation of wearable devices and deliver a
complete lifecycle of patient care; (b) Rockley’s expected timing
of shipment of the first production units of the wearable
biosensing wristband to Medtronic in the second half of 2022; (c)
the anticipated joint development of regulated wearable devices
incorporating Rockley’s non-invasive biomarker sensing platform for
use across various healthcare settings, including proactive and
continuous patient monitoring; (d) the expectation that Rockley’s
biosensing technology can expand the capabilities of wearable
medtech devices by miniaturizing the measurement and analysis of a
range of biomarkers into a compact form factor and the anticipated
impact of these advances, including the ability for a single
wearable device to monitor multiple biomarkers; (e) the anticipated
features and benefits of the Bioptx™ platform, including the
integration of cloud analytics and AI to potentially deliver a
holistic assessment of a variety of conditions; (f) the potential
of the partnership with Medtronic to enable round-the-clock,
real-time, non-invasive monitoring of a person’s health and
well-being; (g) the demand for a continuously connected care
platform that links patients’ health to clinicians and the belief
that Rockley’s wearable devices could extend Medtronic’s existing
monitoring ecosystem; (h) the future for virtually uninterrupted
healthcare monitoring; (i) the intent for Rockley-powered wearable
devices to initially help monitor the general wellness of
individuals and the expected expansion of the intended uses of the
wearable devices; (j) the plans to seek certification from the U.S.
Food and Drug Administration (FDA) or other applicable regulatory
agencies; (k) the potential use of such products in hospitals and
home environments; (l) the anticipated and potential features,
scope, goals, and benefits of the Company’s platform, products, and
technology; (m) Rockley’s development of a range of photonic
integrated circuits and associated modules, sensors, and full-stack
solutions; (n) Rockley’s belief that photonics will eventually
become as pervasive as micro-electronics; and (o) Rockley’s
potential to support hyper-scale manufacturing, address a multitude
of high-volume markets, and deliver the complex optical systems
required to bring transformational products to market.
Forward-looking statements are subject to several risks and
uncertainties (many of which are beyond Rockley’s control) or other
assumptions that may cause actual results or performance to differ
materially from those expressed or implied by these forward-looking
statements. These risks and uncertainties include, but are not
limited to, the following: (i) Rockley’s ability to achieve
customer acceptance and commercial production of its products and
technology, including in a timely and cost-effective manner; (ii)
Rockley’s ability to achieve customer design wins and convert
memoranda of understanding and development contracts into
production contracts; (iii) risks related to purchase orders,
including the lack of long-term purchase commitments, the
cancellation, reduction, delay, or other changes in customer
purchase orders, and if and to the extent customers seek to enter
into licensing arrangements in lieu of purchases; (iv) Rockley’s
history of losses and need for additional capital and its ability
to access additional financing to support its operations and
execute on its business plan, as well as the risks associated
therewith; (v) legal and regulatory risks; (vi) risks associated
with its fabless manufacturing model and dependency on third-party
suppliers; (vii) Rockley’s reliance on a few significant customers
for a majority of its revenue and its ability to expand and
diversify its customer base; (viii) Rockley’s financial
performance; (ix) the impacts of COVID-19 on Rockley, its customers
and suppliers, its target markets, and the global economy; (x)
Rockley’s ability to successfully manage growth and its operations
as a public company; (xi) fluctuations in Rockley’s stock price and
Rockley’s ability to maintain the listing of its ordinary shares on
the NYSE; (xii) Rockley’s ability to anticipate and respond to
industry trends and customer requirements; (xiii) changes in the
current and future markets in which Rockley is or may be engaged;
(xiv) risks related to competition and intellectual property; (xv)
market opportunity and demand for Rockley’s products and
technology, as well as the customer products into which Rockley’s
products and technology are incorporated; (xvi) risks related to
international operations; (xvii) risks related to cybersecurity,
privacy, and infrastructure; (xviii) risks related to financial and
accounting matters; (xix) general economic, financial, political,
and business conditions, both domestic and foreign; (xx) Rockley’s
ability to realize the anticipated benefits of its recently
completed business combination with SC Health Corporation; (xxi)
Rockley’s ability to realize the anticipated benefits of strategic
partnerships; and (xxii) Rockley’s ability to obtain any required
regulatory approvals, including from the U.S. Food and Drug
Administration, in connection with its anticipated products and
technology, and the timing for any such approvals, as well as other
factors described under the heading “Risk Factors” in Rockley’s
quarterly report on Form 10-Q for the quarter ended September 30,
2021, and in other documents Rockley files with the Securities and
Exchange Commission in the future.
The forward-looking statements contained in this press release
are based on various assumptions, whether or not identified in this
press release, and on Rockley’s current expectations, beliefs, and
assumptions and are not predictions of actual performance. If any
of these risks or uncertainties materialize, or should any of these
assumptions prove incorrect, actual results may differ materially
from those discussed in or implied by these forward-looking
statements. There can be no assurance that future developments
affecting Rockley will be those that have been anticipated. These
forward-looking statements speak only as of the date hereof and
Rockley does not intend to update or revise any forward-looking
statements, whether because of new information, future events, or
otherwise, except as required by law.
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version on businesswire.com: https://www.businesswire.com/news/home/20220310005045/en/
Media Debra Raine Rainemakers Telephone: +1 415-349-7432 Email:
rockley-pr@rainemakers.com Investors Gwyn Lauber Rockley Photonics
Telephone: +1 626-995-0001 Email:
investors@rockleyphotonics.com
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