Tekcapital plc Lucyd Patents (3993D)

TIDMTEK

RNS Number : 3993D

Tekcapital plc

28 October 2020

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ("MAR"). With the publication of this announcement via a Regulatory Information Service ("RIS"), this inside information is now considered to be in the public domain.

28 October 2020

("Tekcapital", the "Company" or "the Group")

Portfolio Company Update: Lucyd, Ltd

Lucyd Receives Notice of Allowance for IOT Utility Patent & 13 Design Patents

Tekcapital Plc (AIM: TEK), the UK intellectual property (IP) investment group focused on creating marketplace value from investing in university technology, is pleased to announce portfolio company Lucyd Ltd, ("Lucyd") the developer of E-glasses and operator of an eShop for advanced eyewear, announces new updates to its intellectual property position.

The USPTO has issued a notice of allowance for Lucyd's utility patent #16/022,097 entitled, "Smartglasses and Methods and Systems for Using Artificial Intelligence to Control Mobile Devices Used for Displaying and Presenting Tasks and Applications and Enhancing Presentation and Display of Augmented Reality Information."

This "Link" patent covers the functionality of a mobile app which Lucyd has in development to support its wearable ecosystem. The app will provide for the prioritization of various Bluetooth devices, allowing for finer user control of connections to their main device. Additionally, the app will also provide a user control panel for managing the flow of information across connected devices, particularly control inputs and data outputs, when performing specific tasks or using specific apps. The app will also provide user control over key mappings of wearables connected to their main device, such as changing the function of the action buttons on Lucyd eyewear when using certain apps.

In addition to this utility patent allowance, Lucyd was granted 13 smartglass design patents (D899,493, D900,203. D899,494, D899,495, D899,496, D900,204, D900,205, D900,920, D900,206, D899,497, D899,498, D899,499 and D899,500), covering a range of smart eyewear styles. Lucyd has a total of 24 patent applications and allowances, including two additional pending utility patents and eight pending design patents.

Lucyd has established an IP moat in the E-glass space, which has enabled the company to produce what they believe is one of the first pairs of smart prescription eyewear with the ergonomic features to facilitate mass market adoption and all-day comfort. Lucyd calls this upcoming product "Lucyd Lyte" E-glasses, with the new E-glasses term denoting a form factor and functionality that meets all the requirements of prescription eyewear, while surpassing them with useful electronic features. Click here to see Richard Sherman, Lucyd brand ambassador and American football star, sporting the new Lucyd Lyte.

"Our growing IP position has helped Lucyd produce E-glasses, arguably the most important wearable, with the ergonomic features necessary for all day comfort, prescription compatibility, and fashionable design. Additionally, we believe the LINK patent provides Lucyd with a strong IP entry in the wearables space, with significant claims at the centre of the IOT ("Internet of Things"), Bluetooth(R) and wearable device ecosystem." said Harrison Gross, CEO of Lucyd.

About Lucyd

The mission of Lucyd is to Upgrade Your Eyewear(R) . Lucyd develops designer, prescription-ready, tech-enhanced glasses, that allow the wearer to correct their vision while remaining safely connected to their digital life. To learn more, please visit Lucyd's eShop for innovative eyewear https://lucyd.co . Innovative Eyewear Inc, is the exclusive licensee of Lucyd, Ltd.

Tekcapital owns 100% of the share capital of Lucyd Ltd.

About Tekcapital plc

Tekcapital creates value from investing in new, university-developed intellectual properties and provides a range of IP investment services to make it easy for organisations to commercialise university-developed technology. Tekcapital is quoted on the AIM market of the London Stock Exchange (AIM: symbol TEK) and is headquartered in the UK. For more information, please visit www.tekcapital.com

LEI: 213800GOJTOV19FIFZ85

For further information, please contact:

 
Tekcapital Plc                                    Via Flagstaff IR 
Clifford M. Gross, Ph.D. 
 
SP Angel Corporate Finance LLP 
 (Nominated Adviser and Joint Broker)             [phone] 
Richard Morrison / Charlie Bouverat (Corporate 
 Finance) 
 Abigail Wayne (Corporate Broking) 
 
   Flagstaff Strategic and Investor Communications                 [phone] 

Tim Thompson/Andrea Seymour/Fergus Mellon

This press release is for informational purposes only. The information herein does not constitute investment advice nor an offer to invest and may contain statements related to our future business and financial performance and future events or developments involving Lucyd or Tekcapital that may constitute forward-looking statements. These statements may be identified by words such as "expect," "look forward to," "anticipate" "intend," "plan," "believe," "seek," "estimate," "will," "project" or words of similar meaning. We may also make forward-looking statements in other reports, in presentations, in material delivered to customers, stakeholders and in press releases. In addition, our representatives may from time to time make oral forward-looking statements. Such statements may be based on the current expectations and certain assumptions of Tekcapital or Lucyd's management. Please note that these are subject to a number of risks, uncertainties and factors, including, but not limited to those described in various disclosures. Should one or more of these risks or uncertainties materialize, or should underlying expectations not occur or assumptions prove incorrect, actual results, performance or achievements of Lucyd and/or Tekcapital may vary materially from those described explicitly or implicitly in the relevant forward-looking statement. Neither Lucyd nor Tekcapital intends, nor assumes any obligation, to update or revise these forward-looking statements in light of developments which differ from those anticipated.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [e-mail] or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

MSCFZMZGRNVGGZM

(END) Dow Jones Newswires

October 28, 2020 03:00 ET (07:00 GMT)