Benzinga | Feb 4, 2021 11:27AM EST

Vuzix Reports Completion Of Phase 1 Development Of Customized Head Mounted Waveguide-Based Display System For Assisted Medical Cancer Surgeries

Vuzix(r) Corporation (NASDAQ:VUZI), ("Vuzix" or, the "Company"), a leading supplier of Smart Glasses and Augmented Reality (AR) technology and products, is pleased to announce that the Company has completed the first phase of development with a medical partner located in the USA, to build a customized head mounted display system for assisted medical cancer surgery. This program was first announced on October 6, 2020.



A second phase of development is currently being contemplated by the customer and could result in potentially greater non-recurring engineering (NRE) revenues, if awarded by the customer, in subsequent phases before an accepted final product design could be expected to lead to a volume OEM production order.

"We are excited to complete phase 1 of development for this medical partner and continue to make progress towards obtaining approval for the second phase of the planned development agreement. Ultimately this work is expected to lead to a production opportunity with them," said Paul Travers, President and Chief Executive Officer at Vuzix.