Rockley Photonics’ Biosensing Technology Enters Evaluation Phase by Leading Consumer Wearables Customer

Rhea-AI Summary

Rockley Photonics (NYSE: RKLY) has marked a significant milestone in consumer health monitoring by shipping its VitalSpex™ Pro technology to a tier-1 consumer wearables customer. This technology enables non-invasive biomarker measurements, including alcohol and glucose levels, via wrist-worn devices. With this shipment, Rockley strengthens its partnerships with global electronics manufacturers and supports the transition towards comprehensive health monitoring. The company anticipates that the evaluation program will pave the way for future integrations, enhancing consumer wearables with advanced biosensing capabilities.

Positive

• Rockley has shipped its VitalSpex™ Pro technology to a tier-1 wearables customer, indicating strong demand.
• The technology allows for non-invasive monitoring of various biomarkers, enhancing consumer health tracking.
• Rockley is expanding its customer base with twelve contracts in total, indicating potential growth.

Negative

• None.

- Rockley reaches new milestone in its efforts to transform consumer health monitoring through non-invasive biomarker sensing

- Shipment of VitalSpex™ Pro technology expands list of Rockley’s global consumer electronics customers

- Leading wearables manufacturer to explore integration of new class of optical biomarker sensors into next-generation consumer devices

OXFORD, England & PASADENA, Calif.--(BUSINESS WIRE)-- Rockley Photonics Holdings Limited (NYSE: RKLY) (“Rockley”), a global leader in photonics-based health monitoring and communications solutions, today announced that one of its tier-1 consumer wearables customers has begun an evaluation program using Rockley’s photonics-based sensing technology, which was recently shipped to the customer. Under the evaluation program, Rockley’s comprehensive non-invasive biomarker measurement solutions will be assessed for potential integration into the customer’s future wearable products. The tier-1 customer adds to Rockley’s growing list of global consumer electronics manufacturers to receive shipments of Rockley’s VitalSpex™ Pro technology, which is expected to enable the non-invasive measurement of alcohol, glucose, and lactate from a wrist-worn device.

Dr. Andrew Rickman, chairman and chief executive officer of Rockley, said, “We are excited about entering this new phase of development — and about strengthening our relationship with one of the world’s leading consumer wearables companies. This evaluation program further demonstrates the immense potential of our biosensing platform, and it marks an important milestone in the road to integrating our non-invasive biomarker sensing into consumer devices. By working with this customer, and with other customers, our platform’s ability to deliver unique insights into a person’s health and well-being could potentially define the next generation of consumer health monitoring and help realize the goal of improving people’s health.”

The consumer wearables customer is one of twelve consumer electronics customers actively contracted with Rockley. By incorporating Rockley’s advanced biosensing technology, Rockley-powered wearable devices could enable the routine, near real-time, non-invasive monitoring of a wide range of biomarkers, including core body temperature, blood pressure, heart rate, blood oxygen, body hydration, alcohol, lactate, and glucose, among others.

More information about Rockley’s 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,” “forward,” “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 potential of Rockley’s sensing platform to provide real-time insights about a variety of health conditions and enable the early detection of disease states through routine, near real-time, non-invasive monitoring of a wide range of biomarkers; (b) our platform’s ability to potentially define the next generation of consumer health monitoring and help realize the goal of improving people’s health; (c) Rockley’s belief that photonics will eventually become as pervasive as micro-electronics; and (d) 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; and (xx) Rockley’s ability to realize the anticipated benefits of strategic partnerships, as well as other factors described under the heading “Risk Factors” in Rockley’s annual report on Form 10-K, 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220616005041/en/

Media

Debra Raine

Rainemakers

Telephone: +1 415-349-7432

Email: rockleyphotonics@rainemakers.com

Investors

Gwyn Lauber

Rockley Photonics

Telephone: +1 626-995-0001

Email: investors@rockleyphotonics.com

Source: Rockley Photonics Holdings Limited

FAQ

What recent development did Rockley Photonics announce regarding its biosensing technology on NYSE: RKLY?

Rockley Photonics announced the shipment of its VitalSpex™ Pro technology to a tier-1 consumer wearables customer, which will be evaluated for future integration.

Which biomarkers can Rockley's VitalSpex™ Pro technology measure?

The VitalSpex™ Pro technology allows for the non-invasive measurement of biomarkers such as alcohol, glucose, lactate, body temperature, heart rate, and more.

How many customers is Rockley currently contracted with?

Rockley is currently contracted with twelve consumer electronics customers.

What is the significance of the evaluation program initiated by Rockley's customer?

The evaluation program is significant as it assesses the integration of Rockley's biosensing technology into future wearable products, potentially enhancing health monitoring capabilities.