Rockley Photonics Signs Supply Agreement and Receives First Commercial Purchase Order for Its Non-Invasive Biosensing Wristband

Rhea-AI Summary

Rockley Photonics (NYSE: RKLY) announced the shipment of its initial Bioptx™ biomarker sensing wristbands to medtech customers in Q4 2022. The company has received its first commercial purchase order from a global healthcare provider, marking a significant step for its biosensing technology. The wristbands enable non-invasive, continuous monitoring of multiple biomarkers, with high-volume production planned for 2023. CEO Andrew Rickman highlighted the importance of this milestone for improving patient treatment and expanding Rockley's presence in the medtech market.

Positive

• Received first commercial purchase order for Bioptx™ wristbands.
• Initial shipments expected in Q4 2022, enabling market entry by year-end.
• High-volume production targeted for 2023 with established manufacturing partnerships.
• Biosensing wristbands support non-invasive, real-time monitoring of multiple biomarkers.

Negative

• None.

• Rockley set to ship initial commercial units of its Bioptx™ biomarker sensing wristbands to medtech customers in Q4 2022
• Rockley supply chain preparing to support volume production of biosensing wristbands and other products in 2023
• Unique biosensing wristband features flexible design that supports multiple applications and uses

OXFORD, England, and 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 it has signed a supply agreement outlining the customer’s initial purchase commitment for 2023 and received the first commercial purchase order for its non-invasive biomarker sensing wristbands from a global healthcare technology provider. The Bioptx™ Baseline devices included in this order will employ Rockley’s biosensing technology, a complete end-to-end solution that enables the non-invasive, continuous, and near-real-time monitoring of multiple biomarkers. The initial units are expected to ship in Q4 2022, which could put Rockley’s ground-breaking biosensing technology on the wrists of end-users by the end of 2022.

Hero shot showing bottom of device and strap (Photo: Business Wire)

The Rockley Bioptx band represents a new class of wearable biosensing devices, with enhanced health monitoring capabilities and a flexible design that’s appropriate for a multitude of applications and uses, such as professional healthcare or general health and wellness. The form and function of the device allow it to be worn on the wrist or other locations on the body, depending on the use case and physical requirements. In addition to a versatile form factor, the Bioptx band features a flexible hardware design that will support a range of software stacks that can be customized to address the specific needs of various customers. The software can be further adjusted to optimize battery life for extended use or maximize performance for intensive duty cycles.

Dr. Andrew Rickman, chairman and chief executive officer of Rockley, said, “This is a pivotal moment for Rockley as our medtech customers begin to deploy wearable, non-invasive biosensing solutions that could help improve patient treatment. To support the demand, we have established the manufacturing partnerships to provide high-volume production, which is planned for 2023. This initial order, along with the commitment for future orders, represents a significant step toward expanding our ‘Powered by Rockley’ presence in the medtech market — and brings us closer to our goal of empowering people with timely insights and fostering a more personalized approach to managing health and well-being.”

Rockley's photonics-based biomarker sensing platform miniaturizes the capabilities of lab-based spectrometers onto a single wrist-worn device, enabling a new class of wearable health monitoring solutions. Rockley has conducted several human studies designed to validate the performance of its solution. The results of these ongoing studies continue to help enhance functionality and will support the delivery of non-invasive biosensing products to customers. Rockley expects to work with its partners and customers toward receiving clearance of Rockley-powered wearable devices from the U.S. Food and Drug Administration (FDA) and other regulatory agencies.

More information about Rockley’s digital health monitoring solution is available here: https://rockleyphotonics.com/healthcare-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,” “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 potential of Rockley’s sensing platform to provide a complete end-to-end solution that enables the non-invasive, continuous, and near-real-time monitoring of multiple biomarkers; (b) the timing of shipment and use of our products; (c) our belief that our products are a new class of wearable biosensing devices; (d) the applications and uses of our products, including the potential use for professional healthcare; (e) our ability to customize our products to address the specific needs of various customers; (f) the battery life of our products; (g) the ability of our products to improve patient treatment: (h) the timing of, and ability of our manufacturing partners to provide, high volume production; (i) our ability to empower people with timely insights and foster a more personalized approach to managing health and well-being; (j) our platform’s ability to miniaturize the capabilities of lab-based spectrometers onto a single wrist-worn device; (k) our ability to obtain FDA approval for our products; (l) our belief that photonics will eventually become as pervasive as micro-electronics; and (m) our 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, 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220809005571/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 is Rockley Photonics' recent announcement about the Bioptx™ wristbands?

Rockley Photonics announced the first shipment of its Bioptx™ biomarker sensing wristbands, with initial commercial units expected to ship in Q4 2022.

When will the Bioptx™ wristbands be available to end-users?

The Bioptx™ wristbands are expected to be available to end-users by the end of 2022.

What is the significance of Rockley's purchase order from a healthcare provider?

The purchase order signifies a commitment to deploying Rockley's biosensing technology in the healthcare sector, enhancing patient treatment.

What production plans does Rockley have for the Bioptx™ wristbands in 2023?

Rockley plans for high-volume production of the Bioptx™ wristbands in 2023, supported by established manufacturing partnerships.

How does the Bioptx™ wristband assist in health monitoring?

The Bioptx™ wristband enables non-invasive, continuous, and near-real-time monitoring of multiple health biomarkers.