CardieX Ltd (ASX:CDX) subsidiary CONNEQT, Inc has entered into a manufacturing and development partnership agreement with Fenda Technology Co.Ltd, a leading Chinese wireless solution provider and manufacturer of smart wearable products.
The three-year product development and manufacturing partnership initially focuses on the development of the CONNEQT Band wearable and will also extend to other devices in development by CONNEQT during the period.
Looking ahead, CardieX is expanding its footprint in Greater China with a key industrial design hire, Gordon Lau, to strategically accelerate CONNEQT’s development efforts with Fenda.
Key step towards commercialisation
CardieX CEO and managing director Craig Cooper said: “Although we just signed this agreement, our development work with Fenda has been in process since April this year and we are well advanced on finalizing our design and technical specifications for the CONNEQT Band as we continue our path towards FDA clearance and commercialization.
“Our product development and manufacturing contract with Fenda is a key step toward the commercialization of our CONNEQT Band, which on launch post-FDA clearance will in CardieX’s opinion be the world’s first AI-powered, FDA cleared, clinical-grade smart health wearable featuring our unique dual-PPG sensing technology.”
Shares have been as much as 12.2% higher this morning to A$0.074.
Strategic collaboration agreement
Under the agreement, CONNEQT and Fenda are collaborating to develop and manufacture the CONNEQT Band, a wearable device that will include a full suite of patented health parameters as well as a comprehensive ecosystem of unique health and wellness features focused on heart health.
This partnership follows the announcement of a strategic collaboration agreement between CONNEQT and LifeQ, a leading global provider of biometrics and health information metrics from wearable devices.
The CONNEQT Band development process will greatly benefit from LifeQ and CONNEQT’s joint IP incorporation to deliver an innovative combination of clinical and lifestyle-related health metrics, solutions, and insights for consumer, healthcare and enterprise customers.
“Next-generation wearable”
Shenzhen Fenda CEO said: "We’re incredibly excited to be working with CONNEQT on the integration of their unique dual sensing technology into their next-generation wearable.
“We strongly believe in their vision to make clinical-grade arterial health parameters accessible to the consumer, empowering them to make positive health choices and directly impacting the rise in lifestyle diseases.”
About Fenda
Fenda is globally recognized as a premier provider of intelligent hardware design services, software development and cloud technology.
Fenda’s product suite includes electro-acoustic products, wireless modules and smart wearables.
Their technical R&D team partners with leading international brands to develop medical-grade heart-rate smartwatches, smart wristbands, smart skin detectors and other devices.