Agreements signed with multiple strategic partners to develop new opportunities and applications for Rockley’s non-invasive VitalSpex™ biomarker sensing platform
OXFORD, England & PASADENA, Calif.–(BUSINESS WIRE)–Rockley Photonics (NYSE: RKLY), a global leader in photonics-based health monitoring and communications solutions, today announced that the company has significantly expanded its footprint in the consumer market for its non-invasive VitalSpex™ biomarker sensing platform by signing new partnership agreements with five global consumer electronics (CE) manufacturers, including four of the world’s top-ten manufacturers of wrist-based wearables. With these new partnerships, Rockley has now established strategic relationships with six of the top-ten largest manufacturers of smart watches and wristbands (based on volume as reported by IDC).
These multi-year partnerships will focus on evaluating and incorporating the next generation of non-invasive biomarker sensing in a range of consumer devices, including smart watches, wristbands, and other wearables. Rockley expects that these partnerships will create new opportunities for its VitalSpex sensing platform and help expand the future availability of real-time, non-invasive biomarker sensing for people around the globe.
“We are excited that so many major players in the wearable market have decided to work with Rockley to validate the use of our unique biomarker sensing technology in future products,” said Dr. Andrew Rickman, chief executive officer and founder of Rockley Photonics. “These new partnerships continue to build momentum for our VitalSpex sensing platform. They represent a significant step toward expanding our ‘Powered by Rockley’ presence in consumer wearables, bringing us closer to our goal of giving people the timely insights needed to manage their health and well-being.”
The Rockley VitalSpex sensing platform is designed to enable device manufacturers to integrate more comprehensive non-invasive biomarker measurements in their products. By building its patented silicon photonics-based laser technology into a new generation of sensors, Rockley has significantly expanded the range of biomarkers that can be detected and measured non-invasively, extending far beyond the capabilities of current LED-based sensors. The expanded range of biomarkers includes core body temperature, blood pressure, body hydration, alcohol, lactate, and glucose trends. The new measurement capabilities have the potential to transform digital healthcare by providing real-time insights about a variety of health conditions and by enabling early detection of multiple disease states.
Rockley is currently conducting human studies to refine the performance of its end-to-end sensing solution. As its platform enhancements are realized, Rockley believes that its cloud and artificial intelligence (AI) infrastructure will enable additional capabilities for the fast-growing digital health domain and help individuals make more informed decisions about their health and well-being.
More information about the Rockley VitalSpex digital health monitoring solution is available here: https://rockleyphotonics.com/biomarker-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,” “anticipate,” “believe,” “can,” “capability,” “continue,” “could,” “develop,” “enable,” “estimate,” “eventual,” “expand, “expect,” “focus,” “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 aspects, focus, goals, opportunities, and benefits of Rockley’s new strategic partnerships, including the potential to: (i) evaluate and incorporate the next generation of non-invasive biomarker sensing in a range of consumer devices, (ii) create new opportunities for its VitalSpex sensing platform and help expand the future availability of real-time, non-invasive biomarker sensing globally, and (iii) build momentum for the Company’s sensing platform and advance the Company’s goal of giving people the timely insights needed to manage their health and well-being; (b) the anticipated features and benefits of, and opportunities presented by, the VitalSpex sensing platform; (c) the status and potential results of Rockley’s human trials to evaluate and refine the performance of its sensing solution; (d) the ability of Rockley’s cloud and artificial intelligence infrastructure to enable additional capabilities and benefits for the digital health domain; (e) the ability of Rockley’s sensing platform to enable device manufacturers to integrate more comprehensive non-invasive biomarker measurements in their products; (f) the potential for Rockley’s proprietary photonics-based laser technology to expand the range of biomarkers that can be detected and measured non-invasively and beyond the capabilities of current LED-based sensors; (g) the potential of such new measurement capabilities to transform digital healthcare by providing real-time insights about a variety of health conditions and enabling early detection of multiple disease states; (h) the anticipated and potential features, scope, goals, and benefits of the Company’s platform, products, technology, and partnerships with third parties; (i) its development of a range of photonic integrated circuits and associated modules, sensors, and full-stack solutions; (j) Rockley’s belief that photonics will eventually become as pervasive as micro-electronics; and (k) 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; and (xxi) Rockley’s ability to realize the anticipated benefits of strategic partnerships, as well as other factors described under the heading “Risk Factors” in the registration statement on Form S-1 filed by the Company on October 7, 2021, and declared effective on October 19, 2021, 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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