CardieX subsidiary CONNEQT, Inc announces Collaboration with LifeQ for CONNEQT Health Wearable Featuring World First Sensor Technology
IRVINE, Calif., June 22, 2021 /PRNewswire/ -- CardieX Limited (ASX: CDX) (CardieX, the Company) is pleased to announce that its CONNEQT, Inc subsidiary has entered into a Collaboration Agreement (the Agreement) with LifeQ, a world leading provider of biometrics and health information metrics from wearable devices. The Agreement with LifeQ provides for both companies to leverage their joint IP to be incorporated into a wearable device that delivers a unique combination of clinical and lifestyle related health metrics, insights and solutions for consumer, healthcare, and enterprise customers.
CONNEQT™ is a new consumer health company launched by CardieX in May 2021 to focus on home vital signs monitors, wearables, and consumer health apps.
Under the CONNEQT brand, CardieX is on track to launch multiple new devices and digital products to the market over the next twelve months. Upcoming products include the CONNEQT "Pulse" – a dual blood pressure monitor anticipated to be the world's first consumer vital signs monitor to include central blood pressure and the Company's patented SphygmoCor® technology, and the CONNEQT Band, which will include a full suite of patented health parameters as well as a comprehensive ecosystem of unique health and wellness features focused on heart health.
Under the Agreement, CONNEQT will develop and own the CONNEQT Band (CB), which the Company anticipates being the world's first AI-powered, FDA cleared, clinical grade smart health band featuring dual-PPG sensing - and offering a unique combination of clinical and general health management solutions for both consumers and enterprise customers.
Importantly, the Agreement allows for both companies to leverage their respective expertise in PPG-based biometrics to enable the CONNEQT Band with continuous monitoring of general health parameters as well as spot checking capabilities for medical purposes and actioable health insights. The Agreement also provides for LifeQ to promote the sales and distribution of the CB in select enterprise and business markets.
The CONNEQT Band will feature the Company's patent pending PPG-based finger sensor technology (ASX: 24 April, 2020) as well as a second PPG sensor on the wrist for continuous monitoring of general health related biometrics. LifeQ will be responsible for powering the delivery of biometric information obtained by way of the wrist-based PPG sensor.
CONNEQT will be responsible for building the CB device, obtaining 510K clearance from US FDA and commercializing and marketing the device. LifeQ will be responsible for integrating its on-device software for data analytics and synchronisation to CONNEQT and LifeQ cloud-based networking infrastructure.
The collaboration between the Parties builds on the on-device and cloud-based health metrics derived from PPG sensors in wearable devices that LifeQ has developed with other partners such as Samsung, Fossil, Qualcomm, Motorola, Xiaomi, Suunto, Montblanc, and TAG Heuer.
The Agreement is intended to create a close working relationship whereby LQ and CDX can work together to innovate and create unique offerings for select, agreed market opportunities.
"The significance of this Agreement for our future product development cannot be underestimated. It's a testament to our technology, team, and vision that LifeQ has agreed to partner with us in the development of what we firmly believe will be a disruptive and innovative new health wearable with the CONNEQT Band," said Craig Cooper, Group CEO & Managing Director of CardieX and group subsidiaries. "This Agreement goes beyond collaboration and firmly establishes the foundation of a "partnership in innovation" - whereby both parties will be working together to build and innovate solutions for the USD$500B+ health wearable market."
"The clinical grade heart health features to be generated though the CONNEQT Band PPG-based finger sensor technology combined with LifeQ suite of disease screening and health management solutions will provide a powerful and unique wearable offering with deep clinical insights for consumers and clinicians," said Laurie Olivier, CEO of LifeQ. "We are excited about this collaboration and the opportunities ahead for both companies."
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SOURCE CardieX Limited
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