CB Scientific, Inc. (CBSC) and Shenzhen Semacare Medical Technology Co., Ltd. Announce Collaborative Partnership Agreement

Rhea-AI Summary

CB Scientific Inc. (CBSC) has entered a collaborative partnership with Shenzhen Semacare Medical Technology to advance remote cardiac monitoring solutions. This partnership aims to leverage Semacare's MetaCor monitoring device and MetaAI technology, facilitating regulatory approvals for both companies' products in international markets. CBSC will assist Semacare in obtaining CE and FDA approvals while receiving support for its my-Cam device in China. The agreement also explores potential joint product development and future strategic business combinations.

Positive

• Strategic partnership with Semacare enhances product offerings.
• Access to Semacare's advanced monitoring technology (MetaCor and MetaAI).
• Joint efforts in regulatory approvals could expedite market entry.
• Potential for future product development and business combination.

Negative

• None.

Companies to form a strategic partnership to collaborate on new monitoring solutions for growing international remote cardiac monitoring markets

SHENZHEN, CHINA and ESCONDIDO, CA / ACCESSWIRE / February 11, 2021 / CB Scientific. Inc. (OTC PINK:CBSC)("CBSC" or the "Company"), a provider of innovative products and services for the ambulatory noninvasive cardiac monitoring space, is pleased to announce that it has entered into a collaborative partnership agreement (CPA) with Shenzhen Semacare Medical Technology Co., Ltd. (Semacare), a privately held medical technology company based in Shenzhen, Guangdong, China. Semacare brings their MetaCor real-time remote monitoring device, certified and approved by the National Medical Products Administration ("NMPA') in China, and its associated wireless, waterproof patch electrode, to include their innovative artificial intelligence machine learning algorithm (MetaAI) to CBSC. This partnership will help to further strengthen and diversify both companies by improving CBSC's existing and future digital products and features while helping to expand the outreach of Semacare's MetaCor product offering internationally.

Under the terms of the CPA, the two companies will provide mutual assistance pursuing regulatory approvals for their individual products. CBSC will endeavor to consult and assist Semacare in their efforts towards regulatory approval of the MetaCor monitoring device for CE and US FDA 510(k) registration. Semacare will assist CBSC in the current regulatory approval process with the NMPA in China for the my-Cam monitoring device. During the term of this agreement, mutual efforts will be made towards the joint development of products, including interoperability between Semacare monitoring products and CB Scientific's current and future monitoring solutions. This includes assistance by Semacare to help develop a wireless, waterproof patch solution for CBSC devices. As part of this agreement our two companies will explore a broad scope of joint collaborations and relationships to include the possibility of a future strategic business combination, merger or acquisition.

Going forward, the two companies will share additional information regarding this agreement as new developments occur.

About Shenzhen Semacare Medical Technology Co., Ltd.:

Founded in January 2019, Shenzhen Semacare Medical Technology Co., Ltd (Semacare) is a medical technology company with a goal to lead medical innovation and a mission of "serving mankind through, with and within healthcare". At the core of our operations, we integrate clinical data with artificial intelligence and machine learning technology. By applying top technology to the ultimate product design, we aim to develop optimal user experiences, improve the efficiency of medical systems and optimize the value of life information engineering. Semacare focuses on early detection of cardiovascular diseases through a monitoring and recovering system. By leveraging machine learning technology and incorporating it into sleek hardware, Semacare brings ultimate user experiences to both professionals and patients.

Shenzhen Semacare Medical Tech. Co., Ltd

Room 1308, Block A, Galaxy Century Building, No. 3069 Caitian Road,
Futian District, Shenzhen, Guangdong, China
Phone Number: +86 755 83908999
www.semacare.com

CB Scientific Inc. - Company Contact Information:

340 State Place
Escondido, CA 92029
Telephone number:
(888) 225-0870

Emails:

General inquires: info@cbscientificinc.com
Investor Inquiries: investor@cbscientificinc.com

Company Website and Social Media Outlets:

CB Scientific, Inc. - CBSC, Twitter, Facebook, Instagram and LinkedIn

This information disclosure may contain forward-looking statements covered within the meaning of the Private Securities Litigation Act of 1995. These forward-looking statements relate to, among other things, plans and timing for the introduction or enhancement of our services and products, statements about future market conditions, supply and demand conditions, and other expectations, intentions and plans contained in this press release that are not historical fact and involve risks and uncertainties. Our expectations regarding future revenues depend upon our ability to develop and supply products and services that we may not produce today and that meet defined specifications. When used in this press release, the words "plan," "expect," "believe," and similar expressions generally identify forward-looking statements. These statements reflect our current expectations. They are subject to a number of risks and uncertainties, including, but not limited to, changes in technology and changes in pervasive markets. This release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 27E of the Securities Act of 1934. Statements contained in this release that are not historical facts may be deemed to be forward-looking statements. Investors are cautioned that forward-looking statements are inherently uncertain. Actual performance and results may differ materially from that projected or suggested herein due to certain risks and uncertainties including, without limitation, ability to obtain financing and regulatory and shareholder approval for anticipated actions.

SOURCE: CB Scientific, Inc.

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FAQ

What is the partnership between CBSC and Semacare about?

CBSC has partnered with Semacare to collaborate on new remote cardiac monitoring solutions, enhancing both companies' capabilities.

When was the partnership agreement announced?

The partnership was announced on February 11, 2021.

What technologies are involved in the partnership?

The partnership involves Semacare's MetaCor monitoring device and its MetaAI machine learning technology.

How will this partnership affect CBSC's market position?

The partnership aims to strengthen CBSC's product offerings and facilitate quicker regulatory approvals, potentially enhancing its market position.

What are the regulatory efforts mentioned in the partnership?

CBSC will assist Semacare with CE and FDA approvals, while Semacare will help CBSC with NMPA approval for the my-Cam device.