CSS receives first PO & progresses three licences

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.

Roadside Real Estate plc

("Roadside" or the "Company")

Cambridge Sleep Sciences receives first purchase order and progresses three licencing deals

Roadside (AIM: ROAD) announces that its subsidiary, Cambridge Sleep Sciences, ("CSS") the science-based sleep technology business behind SleepEngine®, has received its first purchase order to supply its technology to Mammoth International Ltd. ("MIL"), following CSS's licencing deal with MIL, announced on 19 September 2023, which focused on licencing SleepEngine® technology for use in Smart Mattresses.

MIL has chosen to commence its rollout of CSS's technology with Smart Pillows, having taken on the exclusive Smart Pillow license CSS agreed with Sleep Sense International Limited, ("SSI") announced on 6 June 2023. SSI intends to purchase Smart Pillow units from MIL. As part of the licence transfer from SSI to MIL, the minimum order quantity has reduced from 25,000 units to 10,000 units and MIL has not been granted global exclusivity or a 12-month extension, as CSS is exploring licencing agreements with additional manufacturers.

MIL's order concerns an initial production run of 2,000 Smart Pillows, paying a royalty fee of £50 per pillow. CSS anticipates further revenues of £100,000 from MIL in 2024 which has indicated the possibility of an order for an additional 2,000 units, giving confidence of further upside throughout the year. The Company will provide a further update at the time if MIL were to potentially agree to place further Smart Pillow orders and/or its first Smart Mattresses order. At present, there can be no certainty as to the timing or quantum of further orders or if they will be placed.

CSS has also signed a development licence with China's TPV Technologies Limited, ("TPV") to explore ways of integrating its technology into TPV's consumer electronics brands, which include Philips, Agon and Great Wall Technology Company, (one of the leading television brands in China).

In addition, CSS has signed development licenses with Ultrahuman Healthcare Pvt Ltd and Footfalls Smartex Ltd., both of whom wish to integrate SleepEngine® into their wearable personal health sensor platforms.

Dr Julian Stone, CEO of CSS, said: 

"We are delighted to see the first orders in our relationship with Mammoth and are excited by those opportunities that could follow a successful development phase with TPV. I believe we will continue to make progress with our licencing business in 2024, enabling us to deploy our technology into a variety of settings, all with the aim of helping people achieve better quality sleep."

Further to the Company's announcement on 11 September 2023, CSS remains in advanced negotiations with several other household names on several new multi-year enterprise licensing deals for its SleepEngine® technology. Further announcements will be made as soon as practicable when these licences are signed though at this time there can be no certainty that they will be signed or as to the timing.

SleepEngine® technology has been developed and refined over more than a decade by a team of researchers, scientists, sound and medical experts. The result is an audio solution that helps to retrain the brain to restore healthy natural sleep patterns, a key component for mental, physical, and cognitive wellbeing. SleepEngine® technology offers a unique integration opportunity with existing or new third-party products capable of delivering high quality audio.

As previously announced, the Board continues to evaluate the best corporate setting to maximise shareholder value from its investment in CSS. There can be no certainty that any de-merger or sale of CSS will ultimately be made or as to the value of any such possible transaction.

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About Roadside

Roadside is a real estate business focused on building and scaling a high-quality portfolio of modern roadside retail assets, including modern EV charging infrastructure.

About Cambridge Sleep Sciences Ltd

Cambridge Sleep Sciences Ltd, is a legacy Life Sciences investment of which Roadside Real Estate plc holds a 75% interest. CSS 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.

Its SleepEngine® technology has been developed and refined over a decade by a team of researchers, scientists, sound engineers and medical experts. This unique technology produces sounds which emulate the waves created by the brain during sleep cycles. The sleep sounds guide the user's brain through the sequence of healthy sleep cycles, helping them fall asleep and achieve the quality of sleep they need in a consistent and optimal way.

Find out more at: www.cambridgesleepsciences.com