Benzinga | Jul 31, 2020 08:05AM EDT

Foresight Subsidiary Eye-Net Mobile Receives Notice Of Allowance For Patent Application From US Patent And Trademark Office

The patent application relates to the company's accident prevention solution

Foresight Autonomous Holdings Ltd. (Nasdaq and TASE: FRSX), an innovator in automotive vision systems, announced today that its whollyThe patent application relates to the company's accident prevention solution

Foresight Autonomous Holdings Ltd. (Nasdaq and TASE: FRSX), an innovator in automotive vision systems, announced today that its wholly owned subsidiary, Eye-Net Mobile Ltd., has received a notice of allowance from the United States Patent and Trademark Office for patent application No. 16/496,826, for "system and method for preventing car accidents and collisions between vehicles and pedestrians."

The patented technology involves an accident prevention system that predicts collisions between vehicles and pedestrians. The system is comprised of a dedicated software application installed on a number of mobile devices carried by pedestrians or users riding in a vehicle. Each of the installed mobile devices detects its location and transmits it to a geographic server. The server sends the location of other mobile devices in the same geographic territory, effectively making each device aware of other users around it. The dedicated software uses advanced proprietary algorithms that detect the user's direction of travel, search for potential collisions and issue a collision alert to mobile users who are of high probability of collision.

This patent serves as the underlying technology for Eye-Net Mobile's cellular-based V2X accident prevention solution. The Eye-Net Protect(tm) V2X (vehicle-to-everything) solution is designed to provide real-time pre-collision alerts to vehicles and vulnerable road users (pedestrians, cyclists, scooter drivers) by using smartphones and relying on existing cellular networks. Designed to provide a complementary layer of protection beyond traditional Advanced Driver Assistance Systems, Eye-Net Protect extends protection to road users who are not in direct line of sight, and not covered by other alerting systems and sensors.

"We are excited about this notice of allowance for another patent application that strengthens our intellectual property," said Haim Siboni, CEO of Foresight. "Eye-Net Mobile continues to develop its V2X solution for reducing the likelihood of accidents and injuries and saving lives. The Company has completed a software development kit (SDK) configuration for Eye-Net Protect and is ready for commercial engagement with third-party location-based applications."

For more information about Eye-Net Mobile, please visit www.eyenet-mobile.com, or follow the Company's LinkedIn page, Eye-Net Mobile; Twitter, @EyeNetMobile1; and Instagram channel, Eyenetmobile1, the contents of which are not incorporated into this press release.