TMZ.L Share News (TMZ)

Losses widened at Toumaz in the six months to June 30 as the wireless technology group ramped up its development activities, but the company hopes that revenues from products will start coming through soon.Toumaz, which has developed technology that monitors health by transmitting data from a 'digital plaster' attached to a patient to a device such as a computer, saw pre-tax losses widen to £3.7m from £845,000. Revenues, most of which are made up of development fees, fell to £1.2m from £2.6m.Research and development costs jumped to £1.9m from £600,000 as Toumaz moved towards completion of several of its projects.Chief executive and founder Chris Toumazou told ShareCast that the work the company has put into development was likely to pay off soon as wireless healthcare starts to take off in the same way as consumer healthcare products did previously.The company launched Xenif, the first chip that combines the radio and internet in one chip, yesterday. Xenif is based on intellectual property licensed from the FTSE 250-listed wireless technology group Imagination Technologies. Toumazou told ShareCast that this is a very 'disruptive' development as it reduces the costs of technology and makes devices using the chip more competitive.Deliveries of the chip will begin in the fourth quarter, in time for Christmas, Toumaz said.Toumaz signed a licence agreement for Sensium, the device used in digital plasters, with Quanta, which designs smartphones and laptops, in July. It hopes this will act as a platform for strong growth in Asia.