Polight ASA

Regulatory Filings • Jun 27, 2022

poLight ASA signs a Proof-of-Concept agreement with a top tier medical customer

poLight ASA signs a Proof-of-Concept agreement with a top tier medical customer

Horten, 27 June 2022 - poLight ASA (OSE: PLT) today announced that the company

has signed an agreement to support a phased PoC (Proof of Concept) endoscopic

camera system development with an unnamed top tier medical device customer.  The

total fee value of this POC agreement is approximately NOK 1.700.000 and is

expected to be received across four phases between Q3 2022 and 1[st] half of

2023.  The customer's intention is to apply the resulting camera design into a

mass production project.

"Medical endoscope market can potentially become an important growth segment for

us, so we're very excited about signing this agreement with such a top tier

medical customer.  We also expect to see another medical customer launch a

medical endoscope with TLens® later this year.  The key benefits of our TLens®

such as compact size, fast focus and constant field of view are proving to meet

the medical endoscope market needs very well.  Signing of this agreement with

such a top tier medical customer marks yet another important and exciting

milestone for our company, although the mass production project realization

depends on the success of this POC project - until then, some risk will always

exist", said Dr. Øyvind Isaksen, CEO of poLight ASA.

Further information from:

Dr. Øyvind Isaksen, CEO, poLight ASA: +47 90 87 63 98

About poLight ASA

poLight offers a new autofocus lens which "replicates" the human eye for use in

devices such as smartphones, wearables, barcode, machine vision systems and

various medical equipment. poLight's TLens enables better system performance and

new user experiences due to benefits such as extremely fast focus, small

footprint, no magnetic interference, low power consumption and constant field of

view. poLight is headquartered in Horten, Norway, with employees in Finland,

China, UK, USA, Taiwan, and representation in Korea and Japan. For more

information, please visit  https://www.polight.com