RCS - Movella Holdings Inc - Movella’s Xsens Motion Capture Suits Enable

Siemens AGAnnouncement

18/04/2023 14:15

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RNS Number : 6167W  Movella Holdings Inc.  18 April 2023

Movella's Xsens Motion Capture Suits Enable Breakthroughs in Disease Diagnosis

HENDERSON, NV / ACCESSWIRE / April 18, 2023 / Movella Holdings Inc.
(NASDAQ:MVLA) ('Movella'), a global leader in the digitization of movement, is
providing critical technology to researchers tracking the onset of diseases
that impair movement. Movella's Xsens motion capture technology is being used
in medical research to develop new examination methodologies and treatments.

THOMAS ANGUS/IMPERIAL COLLEGE

Researchers at Imperial College and University College London, led by
Professor Aldo Faisal, have spent seven years conducting in-depth studies into
the progression of Friedreich's Ataxia (FA) and Duchenne Muscular Dystrophy
(DMD). The use of Xsens motion capture allows for quick and accurate
assessments of a patient's movement, detecting subtle motions that human
analysis alone cannot.

The FA (https://pr.report/dsU0ELwo) and DMD (https://pr.report/QwEOWVy8)
studies, published in the journal Nature Medicine, demonstrate the
effectiveness of motion capture data in predicting the worsening of
degenerative nerve conditions. Assessing the efficacy of a movement-enhancing
drug often involves patients who find walking difficult for extended periods
of time. Through analysis of digitized movement data generated by the Xsens
suit, this burden is minimized to a matter of steps, allowing medical
professionals to predict the progression of these diseases in half the time it
would normally take.

"We believe that the application of Movella's technology has the potential to
change the economics of drug discovery," said Dr Aldo Faisal, Professor of AI
and Neuroscience for Imperial College London. "With motion capture, we have
been able to create an entirely new field of study: ethomics. It will attract
the pharmaceutical industry to invest in rare diseases, but the main
beneficiary from our research is going to be patients. The technology is going
to be able to come up with all new treatments faster."

"The impact motion capture will have on developing new drugs and diagnoses for
a range of diseases will be huge," says CJ Hoogsteen, VP Sales & Marketing
at Movella. "Through the use of Movella's Xsens solutions, medical
professionals can reduce the time and cost required to develop new drugs in
clinical trials and make it more cost-effective to test new drugs for rare
genetic disorders."

The team is already seeking approval for the use of Movella's solutions in
clinical drug trials, beginning in two years. Additional research into
Parkinson's, Alzheimer's, and MS are now taking place.

//ENDS

About Movella Holdings Inc.

Movella is a leading full-stack provider of sensors, software, and analytics
that enable the digitization of movement. Movella serves the entertainment,
health & sports, and automation & mobility markets. Our innovations
enable customers to capitalize on the value of movement by transforming data
into meaningful and actionable insights. Partnering with leading global brand
such as Electronic Arts, EPIC Games, 20(th) Century Studios, Netflix, Toyota,
Siemens and over 500 sports organizations, Movella is creating extraordinary
outcomes that move humanity forward. To learn more, please visit
www.movella.com
(https://eur05.safelinks.protection.outlook.com/?url=https://www.globenewswire.com/Tracker?data=F-nNj5HK6iGj_jv8EhLCctp7vknaikFtryujaHbpMiujs2mGlXwn3YWlfnJx37zoZyOVT4qFabaaJ3L6sFfgWQ==&data=05%257C01%257Cremco.sikkema@movella.com%257C799c00cd70b444c0485608db0fed49e0%257C0d9644303c5f4a6990b984cee624918a%257C0%257C0%257C638121284036323699%257CUnknown%257CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0=%257C3000%257C%257C%257C&sdata=2GQb4s5QCkKv1Tu8Krf4ac0LGNyKM2+3nH/ZU/TSqYw=&reserved=0)
.

Cautionary Statement Regarding Forward Looking Statements

This press release contains "forward-looking statements" within the meaning of
federal securities laws. The words "accelerate," "anticipate," "believe,"
"continue," "could," "enable," "estimate," "expect," "extend," "fuel,"
"future," "growth," "intend," "may," "might," "opportunity," "outlook,"
"plan," "position," "possible," "potential," "predict," "progress," "project,"
"realize," "see," "seem," "should," "will," "would," and similar expressions,
or the negative of such expressions, may identify forward-looking statements,
but the absence of these words does not mean that a statement is not
forward-looking. These forward-looking statements include, but are not limited
to, statements regarding the following: Movella's management team's
expectations, hopes, beliefs, intentions or strategies regarding the future
and the company's competitive position; the potential impact of the merger on
Movella and its business, including allowing Movella to continue to rapidly
scale its business and further invest in market-leading movement capture and
digitization solutions; the potential benefits and expectations related to the
terms of the FP financing, including but not limited to, the sale of
FP-purchased stock and repayment of the note; the ability of Movella's
solutions to enable real-time digitized movement in the emerging high-growth
areas of the Metaverse, next-generation gaming, live streaming and other
applications; the anticipated use of capital raised from the transaction to
further scale and grow the business; the belief that Movella's proprietary
technology, scalable business model, and experienced leadership team will
position Movella to extend its leadership position and continue to deliver
innovations that drive the industry; the anticipated or potential features,
benefits, and applications for Movella's products and technology and timing
thereof; the market opportunity for Movella's products and technology; or
other characterizations of future events or circumstances, including any
underlying assumptions. These statements are based on the current expectations
of Movella's management and are not predictions of actual performance and as
such, are provided for illustrative purposes only. These forward-looking
statements involve a number of risks, uncertainties (some of which are beyond
Movella's control) or other assumptions that may cause actual results or
performance to be materially different from those expressed or implied by
these forward-looking statements. These risks and uncertainties include, but
are not limited to, the following: (i) failure to realize the anticipated
benefits of the merger ; (ii) general economic conditions and Movella's
financial performance; (iii) changes adversely affecting the businesses in
which Movella is engaged; (iv) Movella's ability to execute on its business
strategy and plans and to manage growth; and (v) risks related to regulatory
matters, as well as the factors described under the headings "Risk Factors"
and "Cautionary Note Regarding Forward-Looking Statements" in the final
prospectus filed with the Securities and Exchange Commission (the "SEC")
pursuant to Rule 424(b)(3) by Pathfinder on January 17, 2023 and in those
documents that Movella will file with the SEC in the future. If any of these
risks materialize or the underlying assumptions prove incorrect, actual
results could differ materially from the results implied by these
forward-looking statements. There may be additional risks that Movella
presently knows or currently believes are immaterial that could also cause
actual results to differ from those contained in the forward-looking
statements. In addition, forward-looking statements reflect expectations,
plans or forecasts of future events and views as of the date of this press
release. Movella anticipates that subsequent events and developments will
cause its assessments to change. However, while Movella may elect to update
these forward-looking statements at some point in the future, Movella
specifically disclaims any obligation to do so, except to the extent required
by applicable law. These forward-looking statements should not be relied upon
as representing Movella's assessments as of any date subsequent to the date of
this press release and are not intended to serve as a guarantee, an assurance,
a prediction or a definitive statement of fact or probability. Accordingly,
undue reliance should not be placed upon the forward-looking statements.

CONTACT:

Remco Sikkema
media@movella.com (mailto:media@movella.com)

+31-88-9736700

SOURCE: Movella Holdings Inc.

 

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