NASDAQ: KOPN $ 1.42 +0.01( +0.71%) Volume: 16,199 December 17, 2018 20 min delay

Kopin Partners With Endopodium to Develop High Resolution Wearable Displays for Medical and Surgical Applications

10/24/2018

New Company, HMD/MD, Led by the Team That Commercialized First FDA-Cleared Head Mounted Display for Surgeons

WESTBOROUGH, Mass.--(BUSINESS WIRE)-- Kopin Corporation, a leading developer of innovative wearable computing technologies and solutions, announced today that it has entered into an agreement to support the development and commercialization of the next generation of head mounted displays (HMD) designed for advanced medical and surgical applications. Kopin, and its partner Endopodium Inc., expect to market the product under a new company, HMD/MD, which will create this next generation of wearable display systems. Endopodium was founded by the team which developed and commercialized the Vista Medical HMD, the first medical grade HMD cleared for marketing by the FDA.

Kopin brings to the agreement its high-resolution OLED display technology, along with the expertise gained from developing and supplying micro displays, optics and complete HMD systems to military, enterprise and consumer markets. Kopin’s knowledge of augmented reality (AR) will be invaluable in creating visualization systems for surgical and medical use, where the ability to overlay information during surgery is an ideal use of AR. The founders of Endopodium, John Lyon and Allen Newman, will seek to leverage their experience gained in working with leading physicians and surgeons utilizing the previous generation of surgical HMDs. These earlier displays provided invaluable insight into surgical performance with true 3D visualization and concurrent data presented in real time.

“Kopin has built its reputation by providing the highest performance displays to the military, enterprise and consumer markets, helping to drive the adoption of AR in applications across multiple industries,” said Paul Baker, Kopin Corporation’s Senior Vice President of Business Development. “We are excited to partner with the pioneers in using advanced visualization technology for medical applications, as we believe our combined expertise creates an unmatched team to develop and commercialize products that will enhance critical performance in complex surgical situations. We continue to see new opportunities for AR systems in the enterprise and safety markets, and those opportunities are now expanding to include the medical field.”

In commenting on the agreement, John Lyon, co-founder of Endopodium, said, “Our earlier work was limited by the size and performance level of the displays available. Now, with Kopin’s leading OLED technology, we can create wearable systems which are ergonomic, lightweight and high resolution to meet the critical demands of today’s medical and surgical applications.”

Allen Newman, co-founder of Endopodium added, “From our previous work we have developed extensive relationships with leading clinicians in the application of high-performance wearable displays in advanced procedures, and we look to leverage the knowledge of this group as we create the next generation of advanced eyewear for medical applications.”

Under the terms of the agreement, Kopin will provide both intellectual property and OLED displays, as well as technical expertise in configuring state-of-the-art wearable systems for mission-critical applications. HMD/MD plans to establish strategic distribution partnerships with medical technology companies that wish to include high resolution wearable displays in their proprietary systems.

About Kopin

Kopin Corporation is a leading developer and provider of innovative wearable technologies and critical components for integration into wearable computing systems for military, industrial and consumer products. Kopin’s technology portfolio includes ultra-small displays, optics, speech enhancement technology, voice-interface and hands-free control software, low-power ASICs, and ergonomically designed smart headset reference systems. Kopin’s proprietary components and technology are protected by more than 300 global patents and patents pending. For more information, please visit Kopin’s website at www.kopin.com.

About Endopodium

Endopodium Inc. is a development stage company working on advanced visualization systems for minimally invasive surgery. Endopodium systems will include the HMD/MD wearable display, which will incorporate the latest Kopin high resolution microdisplays, high bandwidth wireless communication and voice control capability in a lightweight, ergonomic “safety glasses” form factor. For more information on Endopodium please visit www.endopodium.com.

Forward-Looking Statements in this press release may be considered “forward-looking” statements under the “Safe Harbor” provisions of the Private Securities Litigation Reform Act of 1995. These include, without limitation, statements relating our expectation that Kopin and Endopodium will development and commercialization of the next generation of head mounted displays (HMD) designed for advanced medical and surgical; our expectation that a new company, HMD/MD will be formed and will market the product; our belief that we are continuing to see new opportunities for AR systems in the enterprise and safety markets, and those opportunities are now expanding to include the medical field; and our belief that HMD/MD will establish strategic distribution partnerships with medical technology companies that wish to include high resolution wearable displays in their proprietary systems. These statements involve a number of risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements. These risks and uncertainties include, but are not limited to, Kopin and Endopodium may not be able to development and commercialization of the next generation of head mounted displays (HMD) designed for advanced medical and surgical; a new company, HMD/MD may not be formed and may not market the product; there may not be new opportunities for AR systems in the enterprise and safety markets, and they may not be expanding to include the medical field; HMD/MD may not establish strategic distribution partnerships with medical technology companies that wish to include high resolution wearable displays in their proprietary systems;there may not be demand for our products; there may have issues which prevent the development or commercialization ofproducts; customers may choose our competitor products and other risk factors and cautionary statements listed in Kopin’s periodic reports and registration statements filed with the Securities and Exchange Commission, including the Annual Report on Form 10-K for the 12 months ended December 31, 2017, and Kopin’s subsequent filings with the Securities and Exchange Commission. You should not place undue reliance on any forward-looking statements, which are based only on information currently available to Kopin and only as of the date on which they are made. We undertake no obligation to update any of these forward-looking statements to reflect events or circumstances occurring after the date of this release.

Endopodium
John R. Lyon, 760-745-0855
CEO
John.lyon@endopodium.com
or
Kopin Corporation
Business Development
Paul Baker, 508-870-5959
Senior VP Business Development
pbaker@kopin.com
or
For Investor Relations
Market Street Partners
Joann Horne, 415-445-3233
JHorne@marketstreetpartners.com

Source: Kopin Corporation