Technology previously earned ScoutCam an official global NASA tender bid for the camera used in NASA’s third Robotic Refueling Mission (RRM3)
OMER, Israel, Oct. 28, 2020 (GLOBE NEWSWIRE) -- ScoutCam (OTCQB: SCTC), a leading developer and manufacturer of customized micro visual solutions and supplementary technologies, today announced it received a patent notice of allowance by the United States Patent and Trademark Office, covering, among other things, the Company's innovative design of Printed Circuit Boards (PCBs), which is included in the camera head. This technology covered by the notice would enable the Company to design and manufacture smaller scale cameras than its competitors per given sensor.
ScoutCam used this technology for the design of its second-generation camera for NASA, which was used in-orbit during its third Robotic Refueling Mission (RRM3) on October 19th-22nd, 2020.
The unique technology enabled the Company to be selected at the United States Government's international tender bid for the design and production of this camera. In addition to its miniature size, the versatile micro ScoutCam 8.0 HD camera features state of the art customizable optics and noteworthy image quality.
Furthermore, the ability to down scale the camera's diameter carries distinct benefits in the medical device context, in which minimizing an object upon entry into the body - in this case the camera - provides a vital advantage. ScoutCam intends to use this technology to further develop and sell cameras to medical device manufacturers, especially for disposable endoscopes – a market that conducts approximately 75 million endoscopies each year in the USA alone – as well as for minimally invasive surgical endoscopic procedures that afford even higher margins.1
“As we are engaged in designing and manufacturing innovative novel products, a strong IP portfolio is essential. This notice of allowance for the patent further strengthens our broad IP portfolio. We see this approval as another testimony to our innovation as well as the acceptance we witness by industry leaders, such as NASA and others" said Yaron Silberman, PhD MBA, Chief Executive Officer of ScoutCam.
Forward-Looking Statements
Information set forth in this news release contains forward-looking statements that are based on the Company’s expectations, beliefs, assumptions and intentions regarding, among other things, its product-development efforts, business, financial condition, results of operations, strategies or prospects, as of the date of this news release. They are not guarantees of future performance. Forward-looking statements can be identified by the use of forward-looking words such as “believe,” “expect,” “intend,” “plan,” “may,” “should” or “anticipate” or their negatives or other variations of these words or other comparable words or by the fact that these statements do not relate strictly to historical or current matters. The Company cautions that all forward-looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond the Company's control. Such factors include, among other things: the likelihood of obtaining approval from the US Patent & Trademark Office for the technology covered by the notice of allowance; our ability to maximize the economic potential and monetize the technology covered by the notice of allowance; our prospects of effectively marketing the technology covered by the notice of allowance within the medical device industry; risks and uncertainties relating to the Company’s reliance on third-party suppliers; market acceptance of our products by prospect markets and industries; the Company's ability to raise sufficient funding in order to meet the Company’s business and financial goals; and certain other factors summarized in the Company’s filings with the SEC. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward looking information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information.
About ScoutCam
ScoutCam is a leading provider of customized visual solutions for organizations across a variety of industries in the form of highly resistant micro cameras and supplementary technologies. ScoutCam devices are used across the medical, aerospace, industrial, research and defense industries. For more information please visit: https://www.scoutcam.com/our-technology
Media Contact
Yaron Silberman
info@scoutcam.com
+972 526 511 122