Having obtained milestone results from their wearables technology, CardieX (ASX: CDX) will advance their unique blood pressure sensor development kit which will allow device makers such as Garmin, Apple and Fitbit to accurately monitor a user’s cardiovascular health.
The technology is a combination of CardieX’s proprietary algorithm and a photoplethysmogram (PPG) sensor which can detect blood volume activity. Key to the technology is that it does not require regular calibration like other products on the market.
Such a device is considered the “Holy Grail” by CardieX CEO, Craig Cooper but one he is confident can be achieved.
“Our strategy for achieving this Holy Grail remains focused on developing the first ‘uncalibrated’ wearable sensor technology that can be used independently and without the need for a separate device for calibration or an invasive inflatable cuff.”
Key to CardieX’s advancement towards commercialisation of their wearable technology is their joint development agreement with Mobvoi which is Google’s “in-country” partner for Google’s Wearable OS platform in China.
With Mobvoi achieving a tech milestone last month by identifying insights into heart and arterial health, CardieX is able to take a significant step in the advancement of the CardieX Sensor Development Kit (CSDK). The kit is founded on CardieX’s PPG sensor technology with the Company to now commence further algorithm integration and has flagged April 2021 for a potential commercial rollout for licencing to third party device manufacturers.
Cardiovascular health remains a major global concern with more than 1.56 billion people expected to suffer from hypertension by 2025, of which 20% of individuals over the age of 60 having some form of vascular disease in a growing market due to the increased prevalence of disorders such as diabetes.
For the half year ending 31 December 2019, CardieX reported sales revenue of $2.1m but a net loss of $1.9m. This has led the company to a shift in their revenue model which will pivot towards subscription sales and SaaS revenues as they continue advancing their PPG wearable cardiovascular technology.
Shares in CDX rose to an intra-day high of $0.024 in morning trade on news of their third party integration plans, a rise of 20% on their previous day’s close of $0.02.
Alfred Chan is a Business Reporter at The Sentiment specialising in ASX-listed small cap companies, a bloodstock enthusiast and former equities analyst.
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