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- EMVision Medical Devices (EMV) receives a $600,000 milestone payment from the Australian Stroke Alliance (ASA)
- The payment is part of the Commonwealth of Australia Medical Research Future Fund program with the ASA for EMVision’s First Responder 2nd Generation brain scanner
- EMVision’s brain scanner device enables monitoring of strokes and the ability to diagnose other conditions
- The 2nd Gen device includes a hybrid antenna, proprietary coupling cap and integrated neck, head and shoulder support
- EMVision is up 7.74 per cent on the market with shares trading at $1.60 at 11:17 am AEST
EMVision Medical Devices (EMV) has received a $600,000 milestone payment from the Australian Stroke Alliance (ASA).
This milestone payment is part of the Commonwealth of Australia Medical Research Future Fund (MRFF) program with the ASA for EMVision’s First Responder 2nd Generation brain scanner device.
The program consists of workshops with the ambulance services in Victoria and New South Wales as well as the Royal Flying Doctor Service to ensure the device is fit for purpose, easy to operate and can fit seamlessly into clinical workflows.
EMVision’s brain scanner device deploys electromagnetic microwave imaging to scan the brain, monitoring strokes and diagnosing other conditions.
The 2nd Gen device includes a hybrid antenna, proprietary coupling cap and integrated neck, head and shoulder support.
It can be deployed in road and air ambulances to deliver pre-hospital stroke diagnosis.
It is also portable, meaning it can be used in hospitals, clinics and other settings where conventional neuroimaging machines aren’t available.
“We have made important progress with the first responder version while working in parallel on our 1st Gen in-hospital device,” CEO Dr Ron Weinberger said.
“The extensive work done by our team will ensure that the device is fit for purpose and meets all the end-user needs, a critical part of the design process.”
Under the agreement with the ASA, EMVision will receive $8 million in non-dilutive cash funding, with $6.2 million remaining, in staged payments over a five-year period.
This funding will enable the company to develop and undertake clinical validation of its brain scanner.
EMVision was up 7.74 per cent on the market with shares trading at $1.60 at 11:17 am AEST.
