Join our daily newsletter At The Bell to receive exclusive market insights
- CardieX’s (CDX) subsidiary, CONNEQT Inc, enters a manufacturing and development partnership agreement with Fenda Technology
- Fenda is a leading Chinese wireless solution provider and manufacturer of smart wearable products
- The three-year agreement will initially focus on the development of the CONNEQT Band and will extend to other devices in development
- The CONNEQT Band is a wearable device that includes a suite of patented health parameters and wellness features focused on heart health
- Shares in CardieX are up 1.52 per cent, trading at 6.7 cents at 12:14 am AEDT
CardieX’s (CDX) subsidiary, CONNEQT Inc, has entered a manufacturing and development partnership agreement with Fenda Technology.
Fenda is a leading Chinese wireless solution provider and manufacturer of smart wearable products.
Its product suite includes electro-acoustic products, wireless modules and smart wearables. The company’s research and development partners with leading international brands to develop medical-grade heart-rate smart watches, smart wristbands and smart skin detectors.
The three-year agreement will initially focus on the development of the CONNEQT Band and will extend to other devices in development.
The CONNEQT Band is a wearable device that includes a full suite of patented health parameters and a comprehensive ecosystem of unique health and wellness features focused on heart health.
Both companies will work together to develop the CONNEQT Band with Fenda to lead the manufacturing and development of the design, technical, creative and tooling specifications.
Costs regarding the commercial manufacture will be determined once a final design has been agreed upon and manufactured.
The agreement can be terminated only if there is a breach by either party and is not corrected within 30 days.
CardieX has also appointed Gordon Lau to strategically accelerate CONNEQT’s development efforts.
Gordon will work with Senior Director of Creative Services Gene Yanku to ensure the best-in-class design.
CEO and Managing Director Craig Cooper commented on the agreement.
“Although we just signed this agreement, our development work with Fenda has been in process since April this year and we are well advanced on finalising our design and technical specifications for the CONNEQT Band as we continue our path towards FDA clearance and commercialisation,” Mr Cooper said.
Shares in CardieX were up 1.52 per cent, trading at 6.7 cents at 12:14 am AEDT.
