PLEASANTON, Calif., Nov. 29,
2023 /PRNewswire/ -- Movano Health (Nasdaq:
MOVE), a pioneer in health technology, today announces the
successful ecommerce launch of the Evie Ring, the innovative smart
ring designed for women, which has exceeded the Company's
commercial sales goals driving over $1
million in orders through the Thanksgiving Holiday.
"We were very pleased to see the exceptional conversion rates
for the Evie Ring, following our strategic lead generation
campaign," said CEO John
Mastrototaro. "We successfully leveraged an engaged
community and a targeted media approach, which drove an excellent
launch result."
This achievement is further underscored by the Evie Ring's
previous prestigious "Best Of" CES 2023 acclaim from leading
publications such as CNN Underscored, USA Today, Wired, Digital
Trends and The Wall Street Journal Gear &
Gadgets.
Additionally, in a landmark advancement, Movano Health is
spearheading innovation in blood pressure measurement technology,
recently attaining what is considered the 'holy grail' in the
field: accurate cuffless and continuous blood pressure monitoring.
This groundbreaking technology represents a giant leap in the
proactive management of blood-pressure related cardiovascular
events, such as heart attacks, the foremost cause of mortality in
America.
Movano Health's cuffless prototype recently demonstrated a level
of accuracy within the standards recognized by the FDA for blood
pressure monitoring devices. The prototype achieved an overall mean
absolute difference (MAD) of 5.9 mmHg, which is below the 7 mmHg
MAD required per a standard for wearable, cuffless blood pressure
measuring devices (IEEE1708a-2019). The Company is also evaluating
AI-based individual calibration methods to further enhance the
future performance of the device.
The realization of this advancement in technology is the
culmination of five years of intensive research and development,
leading to 23 issued patents and 31 pending. These innovations
center on advanced mmWave Radio Frequency (RF) and AI technology.
Movano Health's ultra-compact System-on-a-Chip (SoC), measuring
just 4 x 6.7mm, is at the forefront of industry standards for
continuous, cuffless blood pressure monitoring, enhancing
signal-to-noise ratio and surpassing FDA standards in a recent
clinical study.
Furthermore, Movano Health is making significant progress in
non-invasive glucose monitoring. The Company's proprietary
technology surpasses traditional optical sensors, providing
high-fidelity data and reliable readings, and is effectively skin
color agnostic. This precision and ease of continuous data
collection are pivotal in advancing healthcare, offering an
unprecedented level of convenience and accuracy.
With the successful launch of the Evie Ring and the continued
plans to grow the customer base, Movano Health is simultaneously
focusing on the next phase of advancements for future
offerings, including pivotal trials crucial for
validating their proprietary and patented cuffless blood
pressure and non-invasive glucose
monitoring technology. These initiatives are critical
elements of the Company's product pipeline and future growth and
are expected to be less resource intensive than the scale-up to the
Evie Ring production and launch. As a result, the Company expects
its cash burn rate to reduce by about 40% in 2024.
About Movano Health
Founded in 2018, Movano Inc. (Nasdaq: MOVE) dba Movano Health
is developing a suite of purpose-driven healthcare solutions to
bring medical-grade, high-quality data to the forefront of consumer
health devices. Featuring modern form factors, Movano Health's
devices capture a comprehensive picture of a person's vital health
information and uniquely translate the data into personalized and
intelligent insights that empower consumers to live healthier and
more balanced lives. Movano Health's end-to-end solutions will soon
enable consumers and their healthcare professionals to utilize
daily medical-grade data as a tool to proactively monitor and
manage health outcomes. For more information on Movano
Health, visit https://movanohealth.com/.
Forward Looking Statements
This press release contains forward-looking statements concerning
our expectations, anticipations, intentions, beliefs, or strategies
regarding the future. These forward-looking statements are based on
assumptions that we have made as of the date hereof and are subject
to known and unknown risks and uncertainties that could cause
actual results, conditions, and events to differ materially from
those anticipated. Therefore, you should not place undue reliance
on forward-looking statements. Examples of forward-looking
statements include, among others, statements we make regarding
planned cost-cutting initiatives, anticipated FDA clearance for the
Evie Ring; expected future operating results; product
development and features, product releases, clinical trial,
and regulatory initiatives; our strategies, positioning and
expectations for future events or performance. Important factors
that could cause actual results to differ materially from those in
the forward-looking statements are set forth in our most recent
Annual Report on Form 10-K and any subsequent Quarterly Reports on
Form 10-Q, and in our other reports filed with the Securities and
Exchange Commission, including under the caption "Risk
Factors." Any forward-looking statement in this release
speaks only as of the date of this release. We undertake no
obligation to publicly update any forward-looking statement,
whether written or oral, that may be made from time to time,
whether as a result of new information, future developments or
otherwise.
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SOURCE Movano