- MyFiziq (MYQ) has been granted an increased Singaporean patent protection for its body scanning tech
- MyFiziq’s technology uses a combination of computer vision, patented algorithms, and machine learning to process a 3D avatar of the user with accurate body measurements
- The company now has patents in Singapore, Australia, the U.S., Hong Kong, Canada, Japan, China, and Korea
- MyFiziq is up a slight 1.85 per cent on the market and shares are trading for 27.5 cents each
MyFiziq (MYQ) has been granted an increased Singaporean patent protection for its body scanning tech.
MyFiziq’s technology is embedded into an app that uses pictures on the users smartphone to create a 3D avatar with accurate body measurements.
It uses a combination of computer vision, patented algorithms and machine learning to process the images and create the avatar.
The company now has patents in Singapore, Australia, the U.S., Hong Kong, Canada, Japan, China, and Korea.
“This patent is a great addition as we move to progress our recently announced partners in Singapore. MyFiziq is pursuing the divisional patent extensions in all jurisdictions as patent protection is a very important component in our global growth,” CEO Vlado Bosanac commented.
“Being able to defend our intellectual property (IP) is paramount to the evolution of our product and the value we intent to create for our shareholders. Furthermore, IP protection is always an integral part of our discussions with potential investors and underwrites as we progress our NASDAQ process,” he added.
MyFiziq is up a slight 1.85 per cent on the market and shares are trading for 27.5 cents each at 12:01 pm AEST.