- EMVision Medical Devices (EMV) receives a total non-dilutive funding injection of $3.4 million
- Following several cash receipts the company has cash reserves of approximately $10.3 million
- Additional payments are reportedly still due to the company including a mile stone payment and outastanding contribution
- Shares in the company are in the grey, trading at $2.58 at 1:20 pm AEDT
EMVision Medical Devices (EMV) receives a total non-dilutive funding injection of $3.4 million.
Following several cash receipts, the company has cash receives of approximately $10.3 million.
EMV is focused on the development and commercialisation of medical imaging technology.
The company is developing and seeking to commercialise a potentially cost-effective, portable, medical imaging device. According to the company the technology uses electromagnetic microwave imaging for diagnosis and monitoring of stroke and other medical applications
The company says it has received funding from a partner cash contribution with GE Healthcare which is a grant participant partner and collaborator. EMV has so far received $180 thousand from GE Healthcare with an additional $180 thousand outstanding.
Additionally EMV confirms it has received a cash rebate of just under $2 million from its R&D tax incentive claim for the financial year ending 30 June 2021.
The company also received $1.2 million in grant funding from the Australian Stroke Alliance (ASA) during the quarter. Earlier in the year the ASA along with the Medical Research Future Fund pledged $8 million to EMV.
The funding received to date represents the first two milestone payments due.
Shares in the company are in the grey, trading at $2.58 at 1:20 pm AEDT.