First Knee Replacement Surgery Successfully Completed Using Augmented Reality Technology from Pixee Medical AR Knee+ and Vuzix M400 Smart Glasses

Rhea-AI Summary

On June 30, 2020, Vuzix Corporation announced the successful completion of the world's first total knee replacement surgery using its M400 Smart Glasses on June 24, in collaboration with Pixee Medical. The glasses provided real-time navigation and augmented reality data to the surgeon. Pixee Medical expects a rapid increase in surgeries utilizing this technology, with plans for distribution agreements and FDA approval anticipated by the end of 2020.

Positive

• Successful first knee replacement surgery using Vuzix M400 Smart Glasses.
• Increased interest from surgeons in the Knee+ technology.
• Anticipated distribution agreements with implant manufacturers.
• FDA approval pursuit for Knee+ expected by year-end 2020.

Negative

• None.

ROCHESTER, N.Y., June 30, 2020 /PRNewswire/ -- Vuzix® Corporation (NASDAQ: VUZI), ("Vuzix" or, the "Company"), a leading supplier of Smart Glasses and Augmented Reality (AR) technology and products, announce that Pixee Medical, a France-based medical company, in collaboration with Pr. Remy Nizard from Hopital Lariboisière in Paris, France, performed the world's first Knee+ total knee replacement surgery on June 24^th using the Vuzix M400 AR Smart Glasses.  The Vuzix M400 Smart Glasses provided real time navigation throughout the surgery displaying essential augmented reality information in the surgeon's field of view.

Pixee anticipates the number of total knee replacement cases using the Knee+ technology will increase quickly as they already have a sizable list of surgeons interested in trying this innovation using the Vuzix M400 Smart Glasses. The combination is compact, easy to use, wireless and does not require disposables.

Pixee Medical expects to sign their first distribution agreements with implant manufacturers over the next few weeks, allowing their solution built around the Vuzix M400 Smart Glasses to be promoted by them worldwide. Pixee Medical is pursuing and expecting FDA approval (510k) for Knee+ before the end of 2020.

"The team at Pixee Medical created an innovative path to bring the Vuzix M400 Smart Glasses into the operating room to perform knee replacement surgeries and we look forward to supporting the worldwide distribution of their innovative AR solution," said Paul Travers, President and Chief Executive Officer at Vuzix.

About Pixee Medical

The Pixee Medical company was founded in 2017 with the goal of creating high-performance, computer-assisted surgical solutions using proprietary computer vision and artificial intelligence technologies, while remaining affordable in the challenging health system environment. Our team is composed of experts in orthopedic and computer assisted surgery with recent graduates at the forefront of technology.  Our vision is to augment surgeon's capabilities by creating new clinical pathways that are both efficient and effective.  We aim to market our first surgical devices in 2020, in Europe and abroad, in compliance with our ISO 13485 certification, CE marking and to enter soon the US market with a forthcoming FDA 510(k).

For more information visit our linkedin, Website or email us at contact@pixee-medical.com

About Vuzix Corporation

Vuzix is a leading supplier of Smart-Glasses and Augmented Reality (AR) technologies and products for the consumer and enterprise markets. The Company's products include personal display and wearable computing devices that offer users a portable high-quality viewing experience, provide solutions for mobility, wearable displays and augmented reality. Vuzix holds 157 patents and patents pending and numerous IP licenses in the Video Eyewear field. The Company has won Consumer Electronics Show (or CES) awards for innovation for the years 2005 to 2020 and several wireless technology innovation awards among others. Founded in 1997, Vuzix is a public company (NASDAQ: VUZI) with offices in Rochester, NY, Oxford, UK, and Tokyo, Japan.  For more information, visit Vuzix website,  Twitter and Facebook pages.

Forward-Looking Statements Disclaimer

Certain statements contained in this news release are "forward-looking statements" within the meaning of the Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. Forward looking statements contained in this release relate to the Vuzix M400 Smart Glasses, our relationship with Pixee Medical, their ultimate success in obtaining distribution for their solution, and among other things the Company's leadership in the Smart Glasses and AR display industry. They are generally identified by words such as "believes," "may," "expects," "anticipates," "should" and similar expressions. Readers should not place undue reliance on such forward-looking statements, which are based upon the Company's beliefs and assumptions as of the date of this release. The Company's actual results could differ materially due to risk factors and other items described in more detail in the "Risk Factors" section of the Company's Annual Reports and MD&A filed with the United States Securities and Exchange Commission and applicable Canadian securities regulators (copies of which may be obtained at www.sedar.com or www.sec.gov). Subsequent events and developments may cause these forward-looking statements to change. The Company specifically disclaims any obligation or intention to update or revise these forward-looking statements as a result of changed events or circumstances that occur after the date of this release, except as required by applicable law.

Media and Investor Relations Contact:

Ed McGregor, Director of Investor Relations, Vuzix Corporation ed_mcgregor@vuzix.com Tel: (585) 359-5985

Vuzix Corporation, 25 Hendrix Road, Suite A, West Henrietta, NY 14586 USA,
Investor Information – IR@vuzix.com www.vuzix.com

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SOURCE Vuzix Corporation

FAQ

What significant milestone did Vuzix achieve on June 24, 2020?

Vuzix successfully completed the world's first knee replacement surgery using its M400 Smart Glasses.

Who partnered with Vuzix for the knee replacement surgery?

Pixee Medical collaborated with Vuzix for the knee replacement surgery.

What technology did Vuzix's M400 Smart Glasses provide during surgery?

The glasses provided real-time navigation and augmented reality data to the surgeon.

What are Pixee Medical's plans after the knee replacement surgery?

Pixee Medical plans to sign distribution agreements and expects FDA approval for their Knee+ technology.

Why is Vuzix's M400 Smart Glasses technology significant in surgeries?

It enhances surgical capabilities by providing essential augmented reality information directly in the surgeon's field of view.