Rockley Photonics Receives 2020 UK R&D Tax Credit and Files 2021 R&D Tax Credit Application

Rhea-AI Summary

Rockley Photonics Holdings Limited (NYSE: RKLY) has secured £12.9 million ($15.5 million) in R&D tax credits from the UK government for fiscal 2020. The company has filed its fiscal 2021 R&D tax credit application and plans to file for fiscal 2022 in 2023. Established in 2013, Rockley focuses on silicon photonics-based biosensing solutions aimed at a variety of biomarkers, positioning itself for advancements in mobile health monitoring.

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• Secured £12.9 million ($15.5 million) in R&D tax credits for fiscal 2020.

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• None.

OXFORD, England & PASADENA, Calif.--(BUSINESS WIRE)-- Rockley Photonics Holdings Limited (NYSE: RKLY) (“Rockley”), a global medical technology company focused on delivering leading edge silicon photonics-based biosensing solutions by targeting a portfolio of biomarkers, today announced that it received 12.9 million pounds sterling ($15.5 million) for its fiscal 2020 R&D tax credit from HMRC, the tax agency of the UK government. The Company filed its fiscal 2021 R&D tax credit application and expects to file its fiscal 2022 R&D tax credit application in 2023.

About Rockley Photonics

Formed in 2013, Rockley is a global medical technology company focused on delivering leading edge silicon photonics-based biosensing solutions that target a portfolio of biomarkers. Rockley's ground-breaking end-to-end biosensing platform unlocks unique spectra-based biomarkers enabling insights into personal health and well-being. With next-generation biosensing platforms specifically designed for mobile health monitoring, Rockley is laying the foundation for a new generation of biomedical applications across multiple industries.

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,” “enhance”, “estimate,” “eventual,” “expand, “expect,” “focus,” “forward,” “future,” “goal,” “ground-breaking” “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 timing of tax grant applications and expected receipt of future tax grants; and (b) our belief that we are laying the foundation for a new generation of applications across multiple industries, and the extent to which we may expand our focus beyond biosensing solutions.

Forward-looking statements are subject to several risks, assumptions, and uncertainties (many of which are beyond Rockley’s control) that may cause actual results or performance to differ materially from those expressed or implied by these forward-looking statements. These risks, assumptions, and uncertainties include, but are not limited to, the factors described under the heading “Risk Factors” in our Annual Report on Form 10-K for the year ended December 31, 2021, and in other documents we file with the Securities and Exchange Commission. 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. Given these risks and uncertainties, you should not place undue reliance on these forward-looking statements. 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.

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Contact Information

Gwyn Lauber

Rockley Photonics

Telephone: +1 626-995-0001

Email: investors@rockleyphotonics.com

Source: Rockley Photonics Holdings Limited

FAQ

What is the recent R&D tax credit amount received by Rockley (RKLY)?

Rockley Photonics received £12.9 million ($15.5 million) in R&D tax credits for fiscal 2020.

When does Rockley plan to file its R&D tax credit application for fiscal 2022?

Rockley plans to file its fiscal 2022 R&D tax credit application in 2023.

What is Rockley Photonics focused on?

Rockley Photonics focuses on silicon photonics-based biosensing solutions that target various biomarkers.