WESTBOROUGH, Mass. -
Kopin® Corporation (NASDAQ: KOPN), a leading developer of high-resolution microdisplays, display subassemblies and head-mounted display systems, and HMDmd, INC., an innovator and developer of wearable display technology for surgeons, announced today they have signed an agreement with a major medical technology company to design a precision head-worn display system, The device, based on Kopin's proprietary platform, will be integrated with the company's advanced surgical systems.
HMDmd, based in San Diego, is an early-stage company focused on bringing to market wearable display products, engineered and customized specifically for integration into advanced robotic and endoscopic surgical systems. Kopin, which has licensed its intellectual properties in wearable display technologies and systems for surgical uses, holds warrants for a significant minority equity position in HMDmd.
The goal of the partnership is to develop a head-worn display system which allows surgeons to physically maintain a more comfortable position during surgery while accessing high-resolution real-time information such as video images from a camera in the surgical field, diagnostic images and patient-specific data. The system aims to reduce fatigue for surgeons caused by frequently lifting and turning their heads to look at conventional monitors.
The arrangement between Kopin and HMDmd further strengthens Kopin's approach to support partners with application-specific solutions to shorten product development. Kopin leverages its years of experience and expertise with sophisticated military training and simulation systems. This expertise in human visual response, ergonomics, optical system design and packaging is critical to developing a head-worn display system optimized for surgical applications.
"We are very pleased to initiate development of the first product for this leading medtech company," said John Lyon, CEO of HMDmd. "We have already demonstrated a concept version of the display system to surgeons and prospective distribution partners and have received a very positive response from the market. Our goal is to be a leader in wearable medical-grade display systems, which will be a key information platform for surgeons working in the integrated operating room of the near future."
"We are excited to develop this customized high-performance display system for surgical applications," said Dr. John C.C. Fan, CEO of Kopin. "We believe the combination of our expertise in display system design with HMDmd's deep knowledge of the specific needs of surgeons is crucial for developing a display system optimized for surgeons. We believe HMDmd's strong medical device experience and market access should facilitate rapid adoption."
Kopin Corporation is a leading developer and provider of innovative display and optical technologies sold as critical components, subassemblies and systems for military, industrial and consumer products. Kopin's technology portfolio includes ultrasmall Active Matrix Liquid Crystal displays (AMLCD), Ferroelectric Liquid Crystal on Silicon (FLCOS) displays and Organic Light Emitting Diode (OLED) displays, a variety of optics, and low-power ASICs. For more information, please visit Kopin's website at www.kopin.com.
Kopin is a trademark of Kopin Corporation
About HMDmd, Inc.
HMDmd is an early-stage company based in San Diego, California and is composed of an experienced medical device team. The Company is entirely focused on developing and commercializing wearable display systems for surgery, interventional medicine and other medical specialties and applications. The product line plan includes medical grade XR, VR, AR and MR versions. HMDmd's business model is primarily to enter into strategic distribution partnerships with companies seeking to incorporate OEM or customized versions of HMDmd's products into their proprietary medical systems.
Statements in this press release may be considered "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), which are subject to the safe harbor created by such sections. Words such as "expects," "believes," "can," "will," "estimates," and variations of such words and similar expressions, and the negatives thereof, are intended to identify such forward-looking statements. We caution readers not to place undue reliance on any such "forward-looking statements," which speak only as of the date made, and advise readers that these forward-looking statements are not guarantees of future performance and involve certain risks, uncertainties, estimates, and assumptions by us that are difficult to predict. These forward-looking statements may include statements with respect to: our belief that the combination of our expertise in display system design with HMDmd's deep knowledge of the specific needs of surgeons is crucial for developing the display system optimized for surgeons; and our belief that HMDmd's strong medical device experience and market access should facilitate rapid adoption. Various factors, some of which are beyond our control, could cause actual results to differ materially from those expressed in, or implied by, such forward-looking statements. All such forward-looking statements, whether written or oral, and whether made by us or on our behalf, are expressly qualified by these cautionary statements and any other cautionary statements that may accompany the forward-looking statements. In addition, we disclaim any obligation to update any forward-looking statements to reflect events or circumstances after the date of this press release, except as may otherwise be required by the federal securities laws. These forward-looking statements are only predictions, subject to risks and uncertainties, and actual results could differ materially from those discussed. Important factors that could affect performance and cause results to differ materially from management's expectations are described in Part I, Item 1A. Risk Factors; Part II, Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations; and other parts of our Annual Report on Form 10-K for the fiscal year ended December 28, 2019, or as updated from time to time in the Company's Securities and Exchange Commission filings.
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Richard Sneider, 508-870-5959
Treasurer and Chief Financial Officer
Market Street Partners
Joann Horne, 415-445-3233
John R. Lyon