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Rockley Photonics emerges from Chapter 11

Rockley Photonics emerges from Chapter 11

Posted Date: 2023-06-07

All of Rockley’s materials buyer relationships stay in place. The corporate stays on schedule with all applications together with its growth of distant affected person monitoring know-how.

Rockley Photonics emerges from Chapter 11

Rockley continues to see promising outcomes referring to plenty of biomarkers, together with glucose and anticipates releasing these ends in the second half of this yr.

The corporate emerged with a strengthened capital construction having obtained roughly $35 million of extra funding from its stakeholders.

“Rockley’s means to emerge from Chapter 11 in simply 46 days was a big achievement and marks the start of a brand new period for the corporate,” says CEO Andrew Rickman, “our stakeholders’ ongoing perception in Rockley has offered us with a vastly strengthened steadiness sheet and the funds to proceed to develop disruptive know-how for the med tech market.

“We vastly respect the continued help not solely of our stakeholders but in addition of our suppliers, companions and workers. I look ahead to the chance to proceed to develop Rockley’s merchandise and produce them to market.”

Dr. Richard Kuntz, former senior vice chairman and chief medical and scientific officer at Medtronic, stated: “Rockley has developed breakthrough know-how for non-invasive biomarker monitoring primarily based on their distinctive photonics chip platform. Rockley’s progress in direction of wearable gadgets might have a profound affect on early analysis and illness administration.”

Dr. Tess Skyrme, Know-how Analyst at analysis agency IDTechEx, stated: “Medical situations akin to diabetes and hypertension are affecting a rising proportion of the worldwide grownup inhabitants. The marketplace for wrist-worn distant monitoring know-how, which helps folks handle these situations, is a sub-set of the rising wearable know-how market – forecast to surpass $161 billion by 2033. Inside this discipline cuff-less blood strain monitoring emerges as a very promising development engine

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