Myant Acquires Nanoleq and Osmotex Technologies, Expanding Leadership in Advanced Materials and Textile Computing
TORONTO, Nov. 15, 2024 /PRNewswire/ -- In a bid to expand the global footprint of its pioneering health and wellness applications, Canadian born business, Myant Corp., a leader in advanced materials for healthcare, today announced the acquisition of Nanoleq and Osmotex, two leading textile computing companies based in Switzerland. Zurich has now been set up as a base for Myant's EU and EMEA expansion. These acquisitions add valuable talent to the company and enhance Myant's lead in textile technologies. This entry and expansion of Myant into Europe realizes its ambition to become a global leader in healthcare through advanced materials, setting a new standard for how individuals connect with people and technology.
Nanoleq, a leading Swiss company specializing in smart textiles and biosensing technologies.
This strategic acquisition strengthens Myant's mission to pioneer the future of connected health by integrating Nanoleq's advanced sensor capabilities into its growing portfolio of medical devices.
Both companies share a vision to shift the healthcare paradigm towards prevention, empowering individuals by enabling long-term monitoring through textile computing interfaces and clinical-grade data beyond the hospital setting and into the home. Nanoleq's innovative work in the development of stretchable electrical cables, dry electrodes and biosensing technologies culminated in the flagship Oxa device. Oxa enables users to track their respiratory function, ECG, heart rate variability (HRV), and stress levels through its state-of-the-art sensor system, providing real-time feedback on vital signs to enhance physical and mental well-being.
"We welcome Nanoleq into the Myant group with great enthusiasm"," said Tony Chahine, CEO of Myant. "This acquisition marks a pivotal advancement in our mission to transform healthcare by embedding intelligence into the very fabric of everyday life. Good health is at the center of a productive life and Myant is now poised to drive further forward in the creation of cutting edge personalized medical solutions that empower individuals to proactively manage their health. The Nanoleq team is closely aligned with our vision and will accelerate our efforts to enter the European and Middle East markets."
"Very few companies have succeeded in creating reliable, medical grade, smart textiles, so Myant's acquisition of Nanoleq marks an exciting new chapter for us and will significantly scale our activities," said Vincent Martinez, CEO of Nanoleq. "Combining Nanoleq's expertise in conductive silicones for biosensing with Myant's medical expertise makes this acquisition a natural fit. Both companies share the vision that our healthcare model is outdated. People must be empowered to learn about their health before they get sick. Everyone in our society will benefit from improved prevention."
Osmotex, advanced technologies for moisture and liquid management in textiles and medicine
Myant also acquired the technologies of Swiss deep tech company Osmotex, following a joint venture phase. The technologies enable precise control of moisture and particles in single microchannels, as well as in membranes and textiles with billions of such channels or pores.
For textiles and garments, the technology provides an "electronically controlled breathable membrane" that can match human sweat rates under the most extreme conditions. This innovation is set to be a breakthrough for protective gear and first responder garments by acting as a second skin, enhancing physiological comfort, performance, and safety for the wearer.
In the medical field, Osmotex fabrics will be deployed similarly as a second skin for optimal wound healing and next generation drug delivery systems. Diagnostic applications through fluid sampling, separation and analysis are also being developed.
"The Osmotex technology is a game changer in the vast field of moisture and liquid management," said Tony Chahine, CEO of Myant. "The technology provides a true second skin, directly influencing the physiological and microclimatic conditions of the wearer. Whether in smart wound dressings for fast healing or firefighter uniforms to prevent dangerous heat stress, it removes the limitations of current fabrics. Versions that extract humidity directly from the air add another dimension, with significant potential for energy savings and reducing material degradation."
"With Myant, we are now able to maximize the impact of our technologies," said Trond Heldal, CEO of Myant Swiss and former CEO of Osmotex. "We developed a unique solid-state pump technology, relying on the most advanced materials science and technology. With Myant, we have an equally unique partner, covering the value chain from their 17,000 square meter state-of-the-art materials laboratories via manufacture to the integration into a wide range of finished products and services."
About Myant Corp
Myant exists to enable and augment quality living for all. We leverage advancements in AI, medicine and advanced materials to bring health, safety, connection and peace of mind through every stage of life.
Myant is leading a new era of evolution where AI guardians enhance human capabilities through textile interfaces that function like a connected second skin. This second skin – made possible by groundbreaking advanced materials – blends naturally into our everyday lives, setting a new standard for seamless interaction with the digital world.
From birth to elderhood, AI guardians enrich our daily experience, advance our well-being, ensure our safety, redefine how we connect to society, and enable universal access to the best possible care at every moment.
In 2024, Myant launched with significant growth into the EU and brought on world renowned AI Scientist Dr. Xin Gao as its Chief AI Officer.
For more information, visit www.myant.ca
About Nanoleq
Nanoleq is a Swiss leader in cutting-edge, flexible, and stretchable electrical connections, dry electrodes and biosensing technologies. Their flagship product, Oxa, is a smart wearable that tracks respiratory health, ECG, heart rate variability, and other physiological markers, offering actionable insights into health and wellness.
For more information, visit www.nanoleq.com
About Osmotex
Osmotex, a Swiss technology company, has developed and patented cutting-edge technologies for the controlled movement of moisture in micropores, membranes, and textiles. Its product range includes microfluidic pumps for life sciences, wound care, and medical applications, as well as climatized garments for sports. These innovations have been created in close collaboration with leading Swiss universities and research institutes over several years, and are protected by a robust portfolio of patents.
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