NexOptic Edges Closer to Commercialization
- NexOptic is nearing the point of first revenue
- Pristine Surgical anticipates expanding into a broader portfolio of endoscopes, totaling 125 million procedures worldwide each year
- NexOptic continues to expand its US patent protected portfolio specific to ALIIS and NexCompress
- Initial licensing revenues to NexOptic are dependent on the success of Pristine Surgical's sales of Summit
- NexOptic elected not to renew its THOR mineral claims due to restrictions imposed by Avi Kwa Ame National Monument proclamation
Pristine Surgical received its FDA 510(k) clearance for Summit™, the world's first 4K single-use surgical arthroscope in January 2023, completed its first in human procedure in April 2023 and began its limited market release in
Strength of revenue from NexOptic's perspective will be predicated upon the number of surgical centers that incorporate Summit into their surgical procedures.
Pristine Surgical anticipates expanding into a broader portfolio of rigid and flexible endoscopes, totaling 125 million procedures worldwide each year.
Initial licensing revenues to NexOptic are dependent on the success of Pristine Surgical's sales of Summit. There can be no assurances of commercial success or profitable operations.
NexOptic also wishes to report that it continues to expand its US patent protected portfolio specific to ALIIS and NexCompress by taking necessary steps to expand its intellectual property protections into other key global jurisdictions.
Nexoptic elects to drop its THOR mineral claims,
NexCompress is patented and patent pending and is part of NexOptic's broader ALIIS™ (all light intelligent imaging solutions) suite of artificial intelligence imaging applications. NexCompress is complementary to, and in fact can, supercharge existing CODEC methods currently used by large video streaming companies like Netflix and others.
For more information about NexOptic Technology Corp., please visit the Company's website at www.nexoptic.com
NexOptic is an innovative imaging AI company headquartered in
This news release contains forward-looking statements and forward-looking information (together, "forward-looking statements") within the meaning of applicable securities laws. All statements, other than statements of historical facts, are forward-looking statements. Generally, forward-looking statements can be identified by the use of terminology such as "plans," "expects," "estimates," "intends," "anticipates," "believes" or variations of such words, or statements that certain actions, events or results "may," "could," "would," "might," "will be taken," "occur," or "be achieved." Forward-looking statements in this news release include, without limitation, the Company's expectations concerning the size of the Financing, its ability to close the Financing in whole or in part or at all and its plan for the proceeds of the Financing. Forward-looking statements involve risks, uncertainties and other factors disclosed under the heading "Risk Factors" and elsewhere in NexOptic's filings with Canadian securities regulators, that could cause actual results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking statements. Although NexOptic believes that the assumptions and factors used in preparing these forward-looking statements are reasonable based upon the information currently available to management as of the date hereof, actual results and developments may differ materially from those contemplated by these statements. Readers are therefore cautioned not to place undue reliance on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed times frames or at all. Except where required by applicable law, the Company disclaims any intention or obligation to update or revise any forward-looking statement, whether because of new information, future events or otherwise.
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SOURCE NexOptic Technology Corp.