Flexpoint Sensor Systems Inc. engineers are currently working with other established companies on development of several new applications for their patented Bend Sensor technology. These uses include two medical devices and a monitoring device. All are in the early prototype development and testing stage.
Engineers are working with a company on the development of a disposable directional positioning sensor for colonoscopies. One of the difficulties with the procedure is providing an inexpensive means of locating the exact position of the colonoscopes. With the use of a sensor array and monitoring equipment it appears to be possible to locate the positioning of the colonoscopes.
Engineers have developed a specialty sensor for an undisclosed medical device with another company. The volumes quoted for this device are between 500,000 to 1 million sensors annually. The sensor is an adaptation of a sensor that we already have commercially available. Initial testing on this device has been very positive and further testing will continue for at least the balance of the year. We will work closely with the company in the adaptation and development of additional prototypes as testing progresses.
Flexpoint Sensor Systems is also in the process of developing a movement and motion detection system for the U.S. Military with a military subcontractor.
Clark Mower, president of Flexpoint states, "These are exciting applications for our technology. In every instance the companies have sought us out and are working with us on the development of a specialized sensor for their unique use requirements. While these are in the early development stage, initial testing for each application has produced positive results and development is moving forward. It is expected that the development process will continue throughout the year with significant production and sales not occurring until at least the following year. Because two of these involve medical devices, the approval process may be longer than normally anticipated. We look forward to continuing development of these and other applications in the future.