Movano Inc. Provides Business Update and Reports First Quarter 2022 Financial Results

About this update from Corvex, Inc.

[{"type":"text","content":"Conference call begins at 2:00 p.m. Pacific time today\nPLEASANTON, Calif., May 12, 2022 /PRNewswire/ -- Today, Movano Inc. (NASDAQ: MOVE), a purpose-driven healthcare solutions company at the intersection of medtech and consumer devices, reported financial results for the three months ending March 31, 2022 and provided a business update.\n\n \n \n \n \n \n \n\n \nHighlights from the first quarter and recent weeks include the following:\nMovano has successfully validated the functionality of its proprietary and patented system-on-a-chip (SoC), which is the smallest ever custom mmWave integrated sensor designed specifically for non-invasive glucose and cuffless blood pressure monitoring. While the majority of current wearables on the market use off-the-shelf optical sensors, Movano spent four years developing, designing and shrinking its multi-chip architecture from four integrated circuits into a single SoC in an effort to deliver a higher level of accuracy, offer form factor flexibility and provide its technology to consumers at a lower price point. Movano is currently integrating the SoC into a new prototype system, which will be closer in size and shape to its final product, and enable the Company to conduct longer, more complex blood pressure and glucose studies.Alongside this milestone, Movano was granted one new patent, marking a total of seven U.S. patents currently issued to the Company. The new patent protects innovations around Movano's multi-band chip design, which uses signal diversity and advanced signal processing capabilities and will be integrated into various medical devices in the future.Movano hired a world class go-to-market (GOTM) leadership team to prepare for commercialization of the Movano Ring and future medical devices. The GOTM team is currently planning for Movano's limited beta release, which is on track to take place in 2H 2022, as previously announced, as well as building the foundation for a broader direct-to-consumer market launch following a successful beta program. Additionally, the Company continues to have conversations with potential strategic partners that align with the Company's mission and goals in the healthcare and consumer sectors. As previously announced, the GOTM leadership team includes:Chief Marketing Officer, Tyla Bucher, who has over two decades of experience building and launch...

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