HORTEN: poLight ASA (OSE: PLT) announced that the company has signed an agreement to support a phased PoC (Proof of Concept) endoscopic camera system development with an unnamed top tier medical device customer.
The total fee value of this POC agreement is approximately NOK 1.700.000 and is expected to be received across four phases between Q3 2022 and 1[st] half of 2023. The customer’s intention is to apply the resulting camera design into a mass production project.
“Medical endoscope market can potentially become an important growth segment for us, so we’re very excited about signing this agreement with such a top tier medical customer. We also expect to see another medical customer launch a medical endoscope with TLens® later this year. The key benefits of our TLens® such as compact size, fast focus and constant field of view are proving to meet the medical endoscope market needs very well. Signing of this agreement with such a top tier medical customer marks yet another important and exciting milestone for our company, although the mass production project realization depends on the success of this POC project – until then, some risk will always exist”, said Dr. Øyvind Isaksen, CEO of poLight ASA.
poLight offers a new autofocus lens which “replicates” the human eye for use in devices such as smartphones, wearables, barcode, machine vision systems and various medical equipment. poLight’s TLens enables better system performance and new user experiences due to benefits such as extremely fast focus, small footprint, no magnetic interference, low power consumption and constant field of view.
poLight is headquartered in Horten, Norway, with employees in Finland, China, UK, USA, Taiwan, and representation in Korea and Japan.