SFIO and NeuroSky sign $15-M partnership to bring biotech wearables to global markets

Rhea-AI Summary

Starfleet Innotech (OTC: SFIO) has signed a distribution agreement with biotech firm NeuroSky to sell cutting-edge health monitoring devices globally. SFIO will initially distribute at least 100,000 wearables, targeting regions including New Zealand and the UAE, with non-exclusive rights in several other countries. The collaboration aims to generate $10 to $15 million in revenue over 18 months, focusing on vulnerable communities post-pandemic. SFIO also plans to develop its own line of health tracking wearables in collaboration with NeuroSky.

Positive

• Distribution agreement with NeuroSky for advanced health monitoring devices.
• Exclusive rights to market devices in New Zealand and UAE, with non-exclusive rights in other regions.
• Targeting sales of at least 100,000 units, expecting $10 to $15 million in revenue.
• Plans to launch its own brand of wearable devices.

Negative

• None.

The distribution agreement grants SFIO rights to sell NeuroSky’s bleeding-edge biotech monitoring devices in select regions across the globe, as well as develop new devices under their own brand.

NEW YORK, Nov. 30, 2021 (GLOBE NEWSWIRE) -- OTC:SFIO Starfleet Innotech, Inc. (Smokefree Innotec, Inc.) and biotech company NeuroSky signed an agreement earlier this month, awarding the asset management company distribution rights of NeuroSky’s state-of-the-art health and wellness monitoring devices. As part of SFIO’s broad campaign to build synergies across their core investment areas, the company plans to sell an initial batch of at least 100,000 wearables through partners in health, construction, education, and other related industries.

NeuroSky is a Silicon Valley-based, private biotech company that specializes in electronic wearables such as watches, wrist bands, and headsets. Depending on the device, features include vital sign monitoring, symptom tracking for conditions such as viral infections, and brainwave tracking to help enhance one’s learning abilities.

The agreement grants SFIO exclusive rights to sell NeuroSky products in New Zealand and the United Arab Emirates. SFIO also has non-exclusive distribution rights in Malaysia, Singapore, Thailand, the United States, and other countries yet to be determined.

Tapping their partners across health, construction, education, and similar industries, SFIO intends to position these wearables as a quantitative way to ensure community health in a post-pandemic world, focusing on the communities that have proven to be most vulnerable to communicable diseases.

As an initial project, SFIO will be rolling out these devices to retirement villages, where residents will be able to both monitor their wellbeing and automatically alert medical staff and loved ones with SOS notifications in case of health emergencies picked up by the wearables.

Educators and researchers will also benefit from NeuroSky’s brainwave monitoring technologies. While initially designed to facilitate more data-driven meditation practices, these head-mounted wearables have scientifically-proven use cases in improving performance in the classroom as well.

For the first eighteen months, SFIO aims to sell at least 100,000 units of NeuroSky’s wearables, including their flagship BioSense HR watch. SFIO expects this venture to generate $10 to $15 million in revenue.

In addition to selling to enterprise partners, SFIO will also be making these devices available to interested buyers through e-commerce platforms like Amazon, and other commercial channels via sub-distributors.

Beyond distribution, SFIO has larger plans to launch its own brand of health tracking wearables, with their in-house software development teams working alongside NeuroSky’s product designers and engineers.

These new products will be manufactured by NeuroSky and will fall under a new “white label” brand currently being developed by SFIO.

For media enquiries, please contact:
Craymond Yeong, PR & Marketing Specialist
Epiphany Café
Phone: (+64) 21 0833 2966
Email: info@sfio.co.nz

About Starfleet Innotech, Inc.
Starfleet Innotech, Inc. (OTC: SFIO) is an Asset Management Company, and is a conglomerate of several companies with five strategic business divisions, namely: franchising, food manufacturing and distribution, coffee business, property development, as well as technology and software development – all of which currently have a strong presence in New Zealand, Australia, and the Philippines.

SFIO is the new owner and operator of Epiphany Café Franchise Group, Ardent Bakers, Gorgeous Coffee Co., A+ Electrical, AG Architects, Accord Investment Group (AIG), MLV Accounting, The Global Academy NZ and Big Lou’s Donuts following the successful acquisition of Agrokings, Inc.

About NeuroSky
NeuroSky technologies enable the most insightful and easy-to-understand health and wellness biometrics for mobile solutions, wearable devices, and service providers. The company’s proprietary, market-leading biosensor technologies provide a foundation for analyzing biometric data in a way that’s never before been practical. NeuroSky-enabled solutions deliver unique insights into body and mind health and wellness that can motivate people to make better lifestyle choices. NeuroSky was founded in 2006, and is headquartered in San Jose, California with offices in Asia and Europe. Learn more at www.neurosky.com

FAQ

What is the distribution agreement between SFIO and NeuroSky?

SFIO has secured a distribution agreement granting them rights to sell NeuroSky's health monitoring devices across various regions.

Which regions will SFIO distribute NeuroSky devices?

SFIO will exclusively distribute NeuroSky devices in New Zealand and the UAE, with non-exclusive rights in the US, Malaysia, Singapore, and Thailand.

What revenue does SFIO expect from the NeuroSky agreement?

SFIO anticipates generating between $10 to $15 million in revenue from the sale of 100,000 wearable devices over 18 months.

When was the agreement between SFIO and NeuroSky signed?

The agreement was signed earlier in November 2021.