CardieX Ltd. has collaborated with California based Blumio Inc. to develop an intelligent sensor technology that can be integrated into various types of wearable medical and consumer devices to monitor blood pressure.
The deal adds to an older collaboration between the two businesses and allows CardieX to create sensor technology that was designed to be used in smart watches, fitness trackers, and other medical devices. By integrating CardieX’s intellectual property with Blumio’s intelligent sensor technology, the deal is expected to greatly disrupt the rapidly growing market of healthcare wearable devices.
With the completion of the deal, CardieX can avail 2.5% extra equitable interest in Blumio, propelling CardieX’s ownership in the deal from 7.5 to 10%. The deal puts CardieX in a strong position to exploit opportunities in the massive sensor-based cardiovascular monitoring wearable devices market.
CardieX’s state-of-the-art blood pressure analyzing technology is the company’s USP, and combined with the sensor from Blumio, will drastically change how health issues such as hypertension and heart disorders are diagnosed and managed.
Opportunities for Profitable Licensing Partnerships
Under the deal, both entities will be involved in developing sensor technology that can read central and brachial blood pressures along with evaluating stiffness of arteries and overall cardiovascular health. The wearable sensor integrates CardieX’s intellectual property with Blumio’s blood pressure sensor technology, in a way that enables licensing across a wide spectrum of medical and general consumer uses.
Both businesses have also agreed to cross-license their intellectual properties on non-exclusive terms specifically to develop the joint technology. A new brand will be developed for this purpose under which the joint technology will be marketed. The agreement is expected to push CardieX in the field of direct-to-consumer health market, and is anticipated to lead to lucrative partnerships involving licensing in the future.
Study Displayed Positive Results
CardieX also recently conducted a trial in collaboration with Blumio and the faculty of the Medicine & Health Science Department at the Macquarie University to research the commercial use of CardieX’s technology for pulse wave analysis. The results displayed a high accuracy of cardiovascular blood pressure data by the CardieX-owned technology.
The trial also provided a healthy indication that more central blood pressure data could be extracted from Blumio’s sensors in wearable devices, by integrating CardieX’s proprietary algorithms for machine learning. Blumio has also started another clinical trial at the Deborah Heart and Lung Centre to research the performance of the company’s non-invasive wearable sensor.