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XR Immersive Technologies Acquires Innovative Continuous Glucose Monitoring (CGM) Technology from InsulinQ to Disrupt the $80 Billion Diabetes Market

With this acquisition, Immersive Tech aims to offer a more affordable, user-friendly CGM solution compared to market leaders like Dexcom and Abbott, whose devices dominate the CGM market but often come with high price tags that limit accessibility.

Vancouver, British Columbia - January 14, 2025 (GLOBE NEWSWIRE) - XR Immersive Tech Inc. ("Immersive Tech" or the "Company") (CSE: VRAI) (FSE:79W) (OTCQB: FNTTF) is thrilled to announce a transformative acquisition of Continuous Glucose Monitoring (CGM) technology from InsulinQ. This groundbreaking technology positions Immersive Tech to disrupt the healthcare market, particularly the burgeoning diabetes care sector, with innovative, continuous glucose monitoring solutions that enhance user experience, affordability, and accessibility.

A Strategic Leap into Health Tech

This acquisition marks a pivotal moment in XR Immersive's evolution as it diversifies its portfolio beyond immersive entertainment into high-growth, life-enhancing technologies. The CGM technology from InsulinQ will enable Immersive Tech to address urgent healthcare challenges, leveraging its expertise in AI, data analytics, and user-centric design to deliver cutting-edge solutions to millions of users worldwide.

"This acquisition is more than a step-it's a leap forward in our vision to merge technology and healthcare in ways that redefine the user experience," said Sheri Rempel, CEO of XR Immersive Tech. "By integrating InsulinQ's revolutionary CGM technology, we're uniquely positioned to deliver scalable solutions to the $4.9 trillion U.S. healthcare sector, improving lives while creating substantial shareholder value."

Revolutionizing Glucose Monitoring

The acquired CGM technology employs state-of-the-art sensors and proprietary algorithms to provide real-time, user-friendly, cost-effective glucose monitoring. InsulinQ CGM is intentionally designed to seamlessly integrate with mobile platforms, this innovation delivers actionable insights for diabetes management and overall health optimization.

With this acquisition, Immersive Tech aims to offer a more affordable, user-friendly CGM solution compared to market leaders like Dexcom and Abbott, whose devices dominate the CGM market but often come with high price tags that limit accessibility. Immersive Tech's focus on affordability and ease of use aligns with its mission to democratize healthcare technologies.

Key Highlights of InsulinQ's CGM Technology:

Continuous Monitoring: Eliminates the need for frequent finger pricks.

User-Centric Integration: Real-time glucose tracking through intuitive mobile apps.

Scalable Design: Suitable for both clinical and direct-to-consumer markets.

Affordability: Competitive pricing to broaden adoption in underserved markets.

Elimination of the applicator: Which is cumbersome and is currently used by the other payers in the market.

A Massive Market Opportunity

The global CGM market, valued at $6.32 billion in 2023, is projected to grow to $13.06 billion by 2032, fueled by increasing diabetes prevalence and the urgent need for continuous monitoring solutions.

According to the International Diabetes Federation (IDF), with 537 million people living with diabetes globally in 2023-a figure expected to rise to 783 million by 2045-there is an unprecedented demand for innovative solutions. The U.S. alone accounts for a significant portion of this market, as diabetes remains one of the country's most costly and prevalent chronic conditions.

Market leaders like Dexcom (market cap ~$31 billion) and Abbott Laboratories (market cap ~$200 billion) highlight the vast potential of the CGM industry. XR Immersive aims to challenge this dominance by focusing on affordability, accessibility, and innovation, creating a disruptive force in the sector.

Entry to India- New Epidemic of Diabetes

Diabetes is a significant health crisis in India. According to a recent study published in The Lancet, 101 million people in India are living with diabetes, which is about 11.4% of the country's population. Additionally, 136 million people are considered pre-diabetic, meaning they are at a higher risk of developing diabetes in the near future. This is an unprecedented impact on India's health system to care for these numbers of patients and the related micro and macrovascular complications including kidney failure, heart attacks and strokes,

InsulinQ intends to allocate extensive effort to bring its technology to the Indian population where cost represents the largest barrier to help patients continuously monitor their glucose levels and seek the right treatments.

Unlocking Immense Shareholder Value

This acquisition serves as a foundation for XR Immersive's ambitious health tech roadmap:

Accelerated Product Development: Focus on rapid prototyping, testing, and regulatory approvals to bring the technology to market.

Integration with Existing Platforms: Synergies with Immersive Tech's AI and data analytics capabilities for personalized health insights.

Strategic Partnerships: Collaborations with healthcare providers, insurers, and technology innovators to scale distribution and adoption.

Expanding Applications: Beyond diabetes management, the technology will address broader health optimization, including preventative care and wellness tracking.

"With InsulinQ's CGM technology, we're building the healthcare platform of the future-accessible, scalable, and impactful," added Rempel. "Our goal is to deliver a product that not only meets the highest clinical standards but also transforms the daily lives of millions."

Enhancing Shareholder Confidence and Market Position

This acquisition underscores XR Immersive Tech's strategic commitment to delivering long-term value for its shareholders by expanding into high-growth, high-impact sectors. With a track record of innovation and an eye toward the future, the Company is confident in its ability to unlock significant revenue streams in the global healthcare market.

Future Plans and Vision

The Company is actively pursuing:

Global Regulatory Approvals: Expediting the pathway to market entry.

Product Differentiation: Developing proprietary features for a superior user experience.

Broad Market Reach: Scaling to underserved markets, leveraging strategic alliances to ensure widespread adoption.

Continuous Innovation: Investing in R&D to expand the technology's applications and improve healthcare outcomes.

Terms of the Acquisition

In consideration for the Acquisition, XR Immersive Tech Inc issued 4,000,000 common shares in the capital of XR Immersive Tech Inc at a deemed issue price of $0.75 per common share for a purchase price of $3,000,000. The common shares are subject to a restricted period of four months and one day.

In connection with the Acquisition, Immersive Tech has agreed to pay a finder's fee (the "Finder's Fee") pursuant to a finder's agreement (the "Finder's Agreement") dated December 15th, 2024 in connection with the Acquisition. Pursuant to the terms of the Finder's Agreement, the Company will pay a Finder's Fee of $300,000 by the issuance of 400,000 Shares (the "Finder's Shares") at a deemed price per Finder's Share of $0.75.

On behalf of the Board of Directors

Sheri Rempel, Chief Executive Officer

XR Immersive Tech Inc.

https://www.immersivetech.co/

For further information about Immersive Tech, please contact:

Contact: Alex Tzillios

Tel: +1-818-877-6548

CAUTIONARY DISCLAIMERS

This news release shall not constitute an offer to sell or the solicitation of an offer to buy any securities in any jurisdiction. Any securities referred to herein have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States or to a U.S. Person absent registration or an applicable exemption from the registration requirements of the United States Securities Act of 1933, as amended, and applicable state securities laws.

ABOUT XR IMMERSIVE TECH INC.

XR Immersive Tech Inc. is a leader in delivering next-generation solutions that blend immersive technology with impactful, real-world applications. With a growing portfolio of AI and health tech innovations, Immersive Tech is committed to creating a future where technology enhances lives and redefines possibilities.

FORWARD-LOOKING INFORMATION

This news release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking information") within the meaning of applicable securities laws. Such forward-looking statements may, without limitation, be preceded by, followed by, or include words such as "believes", "expects", "anticipates", "estimates", "intends", "plans", "continues", "project", "potential", "possible", "contemplate", "seek", "goal", or similar expressions, or may employ such future or conditional verbs as "may", "might", "will", "could", "should" or "would", or may otherwise be indicated as forward-looking statements by grammatical construction, phrasing or context. All statements other than statements of historical facts contained in this news release are forward-looking statements. Forward-looking information in this news release includes, without limitation, statements regarding the future plans and objectives of the Company and SynthesisVR, future performance and future growth, development initiatives, business prospects, synergies and opportunities of Immersive Tech and SynthesisVR and their related subsidiaries, the Company's expansion initiatives and pursuit of M&A activity, and other factors beyond the Company's control.

Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the Company's actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information. Forward-looking information is based on the reasonable assumptions, estimates, analysis and opinions of management made in light of its experience and perception of trends, current conditions and expected developments, and other factors that management believes are relevant and reasonable in the circumstances at the date such statements are made, including, but not limited to, the Company being able to capitalize on the services and business of SynthesisVR, the easing of world-wide COVID restrictions and effect on the LBVR industry, the increase in VR arcades and demand for VR entertainment and educational content, the Company's and SynthesisVR's operations and development initiatives, and such other assumptions presented in the Company's disclosure record. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. All forward-looking information herein is qualified in its entirety by this cautionary statement, and Immersive Tech disclaims any obligation to revise or update any such forward-looking information or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future results, events or developments, except as required by law.

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