Israeli SleepX to be merged into AppYea Inc. (APYP)
AppYea continues the process of merging SleepX into the company. The merger is expected to be completed by 12/01/2021 in accordance with the model published on 08/02/2021 ( Link )
In parallel, SleepX continues developing and improving its algorithms and planning to start production during 2022.
The SleepX product is being designed to provide a unique answer to approximately 90 million Americans who suffer from the problem of snoring.
The night wrist band will include several sensors and a vibration motor which will operates with an intensity adapted to the user’s reactions in real time in order to accustom the user to sleep in the correct position using biofeedback, thereby reducing or eliminating snoring.
SleepX solution is being developed in collaboration with the Biomedical department of Ben Gurion University in Beer Sheva, and is patent - protected in the US, EU and Israel.
In addition to reducing snoring and improving sleep quality, users will be able to access important statistics relating to their sleep patterns via an app (Apple and Android) to track over time and detect anomalies.
The sleep apnea market is projected to reach USD 9.9 billion by 2026, at a CAGR of 6.9% during the forecast period.
Major factors driving the growth of this market include the growing awareness regarding the detrimental effects of snoring, availability, and benefits of anti-snoring treatments, growing geriatric and obese population, presence of a large number of cigarette smokers and alcoholics, and a large pool of an untapped snoring population. However, poor efficacy of current anti-snoring treatments available in the market, high cost of some of the anti-snoring treatments, and lack of reimbursement are major factors restraining the growth of this market.
“The SleepX approach should not only solve physiological problems for a great many people, but it may also allow many couples to go back to sleeping together,” says Bary Molchadsky, SleepX’s entrepreneur and CEO.
“The decision to merge with AppYea was made in order to accelerate the start point of production. Lately, we see major players entering the market – Google presented its new Fitbit watch with the possibility to monitor snoring. Amazon presented at the beginning of the year the new Alexa that is supposed to identify sleep apnea. However, we believe that the patent-protected technology underlying the SleepX approach should be accepted in the marketplace.”
“The SleepX products are being designed to provide, besides monitoring, biofeedback based individual treatment, adjusted to each user in real-time. Following the launch of the first snoring treatment product, the company intends to start clinical trials in order to receive FDA approval for sleep apnea treatment.”
“I’m certain that tens of thousands of academic research hours together with international strong patents, would provide Appyea’s investors a significant advantage over time.”
Legal Notice Regarding Forward-Looking Statements
This release includes forward-looking statements. Such statements involve risks and uncertainties which could cause actual results to differ materially from those set forth herein. No statement herein should be considered an offer or a solicitation of an offer for the purchase or sale of any securities. Although APYP believes that the expectations reflected in the forward-looking statements and the assumptions upon which they are based are reasonable, it can give no assurance that such expectations and assumptions will prove to have been correct. Forward-looking statements, which involve assumptions and describe our future plans, strategies, and expectations, are generally identifiable by use of the words “may,” “will,” “should,” “could,” “expect,” “anticipate,” “estimate,” “believe,” “intend,” or “project” or the negative of these words or other variations on these words or comparable terminology. The reader is cautioned not to put undue reliance on these forward-looking statements, as these statements are subject to numerous factors and uncertainties, including but not limited to adverse economic conditions, intense competition, entry of new competitors and products, adverse federal, state and local government regulation, inadequate capital, unexpected costs and operating deficits, increases in general and administrative costs, unanticipated losses, financial condition and stock price, inability to carry out research, development and commercialization plans and other specific risks. APYP does not undertake any obligation to publicly update any forward-looking statement. Neither APYP nor SLEEPX are subject to the reporting requirements of the Securities and Exchange Commission under the Securities and Exchange Act of 1934 as amended.
View source version on newsdirect.com: https://newsdirect.com/news/israeli-sleepx-to-be-merged-into-appyea-inc-apyp-219263072