CardieX's Wearable Partner Blumio Signs Deal with Global Semiconductor Company
SYDNEY, July 6, 2020 /PRNewswire/ -- CardieX Limited (ASX: CDX) (CardieX, the Company) announces that its wearables co-development partner, Blumio, Inc, has entered into a significant partnership with global semiconductor company Infineon Technologies AG (Infineon) for the development and commercialization of sensor technology based on Infineons's radar chip and Blumio's software and algorithms.
CardieX has several ongoing wearable sensor collaborations—including a Co-Development Agreement (CDA) with Silicon Valley-based Blumio that provides for the integration of CardieX's algorithms and SphygmoCor® technology into the Blumio sensor. CardieX is a 7.5% shareholder in Blumio, with a potential to increase to 10% (for no additional cash investment) based on the achievement of certain additional milestones. In addition, CardieX has a Joint Development Agreement (JDA) with Mobvoi, one of the world's largest smartwatch manufacturers, for the development of specific health data features for Mobvoi devices based on CardieX's SphygmoCor® technology. Mobvoi is Google's official partner in China for Google's Wear OS platform.
Commenting on this new collaboration CardieX CEO Craig Cooper stated:
"The partnership with Infineon can only further promote the accelerated commercialization of Blumio's technology in one of the largest health technology markets. All boats will continue to rise as a result of this new deal as we look to further refine the integration of our SphygmoCor® technology into the Blumio sensor."
On June 25th, Blumio announced that it had entered a new agreement with Infineon Technologies AG (FSE: IFX / OTQX: IFNNY) to co-develop a wearable, non-invasive blood pressure sensor based on Infineon's XENSIV™ radar chipset by 2021. The new sensor has the potential to disrupt the USD45 billion market for wearable cardiovascular monitoring devices by enabling continuous and precise measurement without a cuff.
"Bringing together Infineon's 60 GHz radar chipset and system understanding with Blumio's expertise in cardiovascular health monitoring in a more formal engagement lets both companies leverage their strengths to more rapidly bring the product to market", said Adrian Mikolajczack, Head of Infineon Silicon Valley Innovation Center (SVIC), Power and Sensor Systems. "We are excited to see our advanced sensors like radar being applied to novel and rapidly expanding health and wellness applications."
Upon successful completion, a kit combining Infineon's radar chipset and development board with Blumio's software and algorithms will be released to consumer and medical wearable device makers to integrate into their blood pressure monitoring devices.
"We are thrilled to work together with Infineon, the technology leader in radar, to jointly bring the new blood pressure sensor to market", said Catherine Liao, Co-founder and CEO of Blumio. "We have experienced tremendous support since the beginning of our partnership in 2018 and we look forward to further advancing our collaboration with Infineon."
In its role as an incubator of new technologies, the SVIC will provide funding and resources to support the sensor's commercialization. The SVIC will leverage Infineon's engineering, manufacturing and commercialization expertise, as well as offer office and laboratory space.
"Innovation and partnerships are part of Infineon's DNA. As an incubator, Infineon works together with startups to develop leading-edge technologies that make life easier, safer and greener," said Mikolajczak. "The expanded partnership with Blumio truly exemplifies our commitment to invent new technologies that solve problems as we expand our footprint in Silicon Valley."
About CardieX
CardieX is a global health and technology company that develops digital and device-based solutions for large-scale population health disorders. The Company's SphygmoCor® XCEL device is the gold standard for measuring "central blood pressure" which is considered essential for the management of hypertension and related cardiovascular disorders.
www.cardiex.com
About Blumio
Blumio is a Silicon Valley based developer of advanced algorithms and technology for cardiovascular sensors.
www.blumio.com
About Infineon
Infineon Technologies AG is a world leader in semiconductor solutions that make life easier, safer and greener. In the 2019 fiscal year (ending 30 September), the Company reported sales of EUR8.0 billion with around 41,400 employees worldwide. With the acquisition of US-based Cypress Semiconductor Corporation in April 2020, Infineon has become a global top 10 semiconductor company.
Infineon is listed on the Frankfurt Stock Exchange (IFX) and in the USA on the over-the-counter market OTCQX International Premier (IFNNY). www.infineon.com
SOURCE CardieX Limited
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