AppYea expands its SleepX patent commercialization portfolio with a non-diluting agreement.
AppYea (OTC: APYP) announced that its subsidiary SleepX, which focuses on the development of accurate wearable monitoring solutions to treat sleep apnea and snoring – has signed new commercialization agreement for two additional patents by Ben-Gurion University. The new patented technology enables the innovative detection of sleep apnea and hypopnea through speech analysis using only a smartphone and with no physical contact. This is compared to traditional technologies that use physical sensors to detect apnea in overnight sleep labs. "In recent years we see a growing number of major players taking development efforts in the field of sleep monitoring and sleep apnea”, said Boris (Bary) Molchadsky, chairman & CEO of AppYea. “We are developing our own products that cater to this market while increasing our patent portfolio and examining synergistic technologies as part of our strategy to become a leading player in the sleep health market while also offering licensing agreements for leading smartphone manufacturers.” SleepX is a research and development company recently acquired by AppYea. The company had developed a unique product for monitoring and treating sleep apnea and snoring. The technology is protected by several international patents and the company plans to start serial production in 2022. SleepX focuses its activities on the development and commercialization of its flagship product SleepX PRO solution which is designed to diagnose sleep apnea using only a smartphone and with no physical contact. The company recently announced that it has applied to the Helsinki Committee for approval to begin its planned clinical trial on the SleepX PRO application. This trial is intended to take place at a hospital sleep lab as the first step toward applying for an FDA approval under the first-of-its-kind medical device category for “contactless detection of sleep apnea to be performed through the Artificial Intelligence (AI) analysis of breathing during sleep”. As far as SleepX is aware, the global sleep apnea devices market size is valued at USD 3.7 billion as of 2020 with a 6.2% CAGR, reaching USD 6.1 billion by 2028, according to Grand View Research’s report. Safe Harbor and Forward-Looking Statements This release includes forward-looking statements. Such statements involve risks and uncertainties which could cause actual results to differ materially from those set forth herein. No statement herein should be considered an offer or a solicitation of an offer for the purchase or sale of any securities. Although APYP believes that the expectations reflected in the forward-looking statements and the assumptions upon which they are based are reasonable, it can give no assurance that such expectations and assumptions will prove to have been correct. Although we believe that our plans, intentions and expectations reflected in or suggested by the forward-looking statements in this report are reasonable, we cannot assure stockholders and potential investors that these plans, intentions or expectations will be achieved. These forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties, and other factors, some of which are beyond our control and difficult to predict and could cause actual results to differ materially from those expressed or forecasted in the forward-looking statements. The reader is cautioned not to put undue reliance on these forward-looking statements, as these statements are subject to numerous factors and uncertainties, including but not limited to our ability to raise capital needed to develop and market our products, the effectiveness of the Registration Statement, our ability to manage the business post acquisition, economic conditions, intense competition, entry of new competitors and products, adverse federal, state and local government regulation, inadequate capital, unexpected costs and operating deficits, increases in general and administrative costs, unanticipated losses, financial condition and stock price, inability to carry out research, development and commercialization plans and other specific risks. APYP does not undertake any obligation to publicly update any forward-looking statement. Neither APYP nor SLEEPX are subject to the reporting requirements of the Securities and Exchange Commission. Contact Details Asaf Porat +1 800-674-3561 firstname.lastname@example.org Company Website http://www.appyea.com
May 16, 2022 07:00 AM Eastern Daylight Time