• CardieX subsidiary ATCOR has been granted US Patent 11,006,842 by the US Patent & Trademark Office (USPTO) further enhancing the Company’s intellectual property surrounding blood pressure measurement.
• Patent provides for a new method of estimating brachial blood pressure from cuff-based blood pressure devices and wearable sensor technology.
US Patent No 11,006,842, titled “Non-Invasive Brachial Blood Pressure Measurement” has been granted specifically to protect the Company’s IP in relation to the measurement of central blood pressure waveforms using a brachial blood pressure cuff.
The granting of this patent further builds on the Company’s existing 13 patents surrounding the measurement of cardiovascular health parameters using both traditional brachial cuff devices as well as sensor-based wearable technologies.
In May 2020, ATCOR also lodged an additional new patent application for what is believed to be a worldfirst wearable sensor technology method and system using a PPG sensor - which the Company is incorporating in upcoming product releases.
The patent is in force until 2038.
A new interview with CEO Craig Cooper re increased revenue and planned product launch timelines available on Proactive today...
CardieX releases first-half results as company achieve 5-year record high revenue
CardieX (ASX: CDX) CEO Craig Cooper joined Steve Darling from Proactive to share details about their half-yearly report. That report showed strong growth numbers as 2021 is looking to be a transformational year for the company. Half-year sales were up 30% for the first six months of FY2021 compared to the same period in 2020.
Cooper also shared details with Proactive about some of the product offerings they're planning this year as well as an update on plans for a new wearable.
• Unaudited sales for the 6 months YTD FY21 were up 30% over the previous comparative period (using constant currency and excluding royalties)
• Strong sales performance growth during the quarter with Q2 FY21 up 29% on a constant currency basis
• When including the impact of the strengthening AUD against the USD, sales excluding royalty for H1 were up 24% on last year
• New product launch update
• Regulatory approvals update and schedule - FDA clearance, CE approval in Europe, and NMPA approval in China
• Expansion of senior executive team with two key new hires
• Launch of new “ATCOR Health” division
• Successfully completed Share Purchase Plan raising over $3.2 million closed 31 December 2020
• Group Cash balances of $3.32 million at quarter end which, following the January receipt of the oversubscribed SPP of $3.2m+, provides total adjusted cash reserves of ~$6.55m
Thanks Quiltman, interesting company with lots of potential.
Here is a (paid) article that explains the company well......
Special Report: CardieX has inked one of its most significant deals to date, securing a partnership with one of China’s largest electronic medical device manufacturers and opening the doors to a US$509 billion market opportunity.
CardieX (ASX:CDX), the Australian cardiovascular monitoring medtech, signed a three-year deal between its subsidiary ATCOR and China’s Andon to co-develop and commercialise a range of home-use and remote patient monitoring devices.
The first of these devices, dubbed ‘ATCOR Pulse’, will include the world’s first cloud-connected home-use BP monitor to include ATCOR’s patented SphygmoCor technology, the global standard for non-invasive measurement of arterial stiffness. It will also be the first to include Arty, ATCOR’s new cardiovascular vital signs and telehealth platform.
Pulse represents the first new medical device developed by ATCOR since 2012, and it’s easy to see why CardieX has decided now is the right time to release new kit. With the advent of COVID-19, it’s not surprising that patients fortunate enough to be able to be cared for from home will choose this option.
With the new devices, CardieX has cottoned on to a market opportunity in digital health, which will be worth US$509 billion by 2025. The home consumer health devices market alone is estimated to be worth US$2.5 billion annually. That opportunity grows even larger when taking in the remote patient monitoring market, adding another estimated US$43 billion by 2027.
The company plans to target the US, Europe, Australia and Chinese markets with a launch expected by Q42021. CardieX also wants to target multiple new channels and markets with ATCOR Pulse, including hypertension and cardiovascular, the world’s #1 killers with 18 million deaths annually, as well as vascular dementia and Alzheimers. ATCOR Pulse will serve as the anchor device for CardieX’s home health-tech strategy as it looks to crack into these new markets. All of the devices manufactured under the agreement with Andon will form the Pulse ecosystem catering to these markets – all of which connect to the Arty ecosystem.
CardieX CEO and managing director Craig Cooper said the Andon partnership was the most significant announcement in the company’s history since he became CEO in 2017.
“We now have the foundations of a fully developed ecosystem of home-health devices, digital health & telehealth solutions, wearable partnerships, and a remote patient monitoring platform – each of which target significant health-tech market opportunities – and each based on our patented SphygmoCor technology,” said Cooper.
“Going forward we will continue to expand our product portfolio with new devices including new partnerships in medical and clinician based vital signs monitoring, wearables, and other health technologies”.
As part of the agreement, Andon will be responsible for obtaining regulatory approvals in all target markets. Andon will also purchase ATCOR’s SphygmoCor chips, while ATCOR will retain sole and exclusive owner of IP rights to central blood pressure monitoring and will have sole distribution rights in all territories.
This article was developed in collaboration with CardieX, a Stockhead advertiser at the time of publishing.