Barkby Group PLC Major licensing deal for Cambridge Sleep Sciences (7237B)
06 Juin 2023 - 8:00AM
UK Regulatory
TIDMBARK
RNS Number : 7237B
Barkby Group PLC
06 June 2023
This announcement contains inside information for the purposes
of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it
forms part of UK domestic law by virtue of the European Union
(Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with
the company's obligations under Article 17 of MAR.
Barkby Group PLC
("Barkby" or the "Company")
Cambridge Sleep Sciences Announces Major Licensing Deal
Barkby (AIM: BARK) announces that its subsidiary, Cambridge
Sleep Sciences, ("CSS") the science-based sleep technology business
behind SleepHub(R), has granted a five-year global license, (the
"Agreement") to Sleep Sense International Limited, ("SSI") enabling
it to manufacture a Smart Pillow using CSS's SleepEngine(R)
platform.
Under the terms of the Agreement SSI holds exclusive rights in
the pillow market subject to a Minimum Order Quantity, ("MOQ") of
25,000 units in the first 12 months. CSS will grant a 12-month
extension of this exclusivity subject to a MOQ of 60,000 units for
year two of the license.
Based on these MOQ's, CSS expects the license to generate
royalty payments of GBP1.25 million in the first 12 months and
GBP3.0 million in year two for the Company. MOQs and payments for
years three, four and five will be agreed in November 2024.
Dr Julian Stone, CEO of CSS, said:
"We are excited to be working with Sleep Sense International in
such a large market. By embedding SleepEngine(R) we can now deliver
our unique audio solution to aid and improve people's sleep through
most third-party speakers, headphones and earbuds.
"The Agreement changes the market opportunity for us as we move
the business towards a Software As A Service business model. We
expect this licensing deal to be the first of many for
SleepEngine(R)."
Mike Hobson, Managing Director of SSI said:
" We are really excited being partnered with CSS in this
exciting new venture in creating the ultimate sleep product. With
our experience of manufacturing quality natural sleep products
combined with this new technology, developed with CSS, plus our
global reach of customers new and old, we know this will change the
whole conception of sleep."
SleepEngine(R) technology has been developed and refined over
more than a decade by a team of researchers, scientists, sound and
medical experts. The result is a unique audio solution that helps
to retrain the brain to restore healthy natural sleep patterns, a
key component for mental, physical, and cognitive wellbeing.
SleepEngine(R) technology offers a unique integration opportunity
with existing or new third-party products capable of delivering
high quality audio.
SSI is a white label bedding company specialising in helping
brands and retailers develop and launch new product propositions
within the bedding category. Its brands include, Laura Ashley,
Mammoth, Sleepeezee, Pillowheadzzzz, Airsprung, Millbrook and
Staingard.
CSS has agreed a separate global license for SleepEngine(R) with
a multinational technology company and will be announcing more
details shortly.
- Ends -
For more information
Barkby Group plc c/o Montfort Communications
Charles Dickson, Executive Chairman
finnCap Ltd (Nomad and Broker)
Carl Holmes and Simon Hicks (Corporate
Finance)
Tim Redfern and Richard Chambers
(ECM) +44 (0)20 7220 0500
Montfort
Olly Scott
Georgia Colkin +44 (0)78 1234 5205
About Barkby
Barkby is a roadside real estate business focused on building
and scaling a high-quality portfolio of modern, ESG-compliant
assets. It is in the process of exiting its non-core investments,
(comprising Workshop Coffee and Cambridge Sleep Sciences).
About Cambridge Sleep Sciences Ltd
Cambridge Sleep Sciences Ltd, part of the Life Sciences division
of The Barkby Group Plc, develops technology which improves natural
sleep. Using the principles of neuroscience and cutting-edge
technology to enhance brain activity during sleep, its innovative
solutions aim to improve health, wellbeing and enhance quality of
life.
The company prides itself on delivering the first
neuroscience-based electronic sleep product, SleepHub(R) , to help
improve and facilitate natural sleep.
Find out more at: www.cambridgesleepsciences.com
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END
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