- EMVision Medical Devices (EMV) and the Australian Stroke Alliance (ASA) have successfully bid for a Medical Research Future Fund
- The company will receive $8 million of non-dilutive cash funding in staged payments, to be spent across a five-year program
- EMVision will use the funding to support development and clinical validation of its portable medical imaging technology
- In particular, the company is working to progress a first-responder model of the device for air and road ambulances
- EMVision Medical Devices is up 15.29 per cent and trading at $2.79 per share
EMVision Medical Devices (EMV) and the Australian Stroke Alliance (ASA) have successfully bid for a Medical Research Future Fund (MRFF).
The ASA leads a consortium of leaders from the health care sector, which aims to transform pre-hospital care for those who suffer from strokes. EMVision is a key commercial collaborator in this endeavour and has been developing portable medical imaging technology that may assist in assessing the brains of stroke victims.
The ASA bid for the stage two MRFF from the Federal Government, in order to fund a five-year program to renovate pre-hospital stroke care. Having been successful, the ASA will receive $40 million of the $100 million awarded by the Government.
EMVision will receive $8 million of non-dilutive cash funding in staged payments, which are likely to be weighted to the earlier years of ASA’s five-year program. The company will use the funding to support the development and clinical validation of its portal medical imaging technology.
In particular, EMVision is working to progress a first-responder model of its brain scanning device for air and road ambulances. The company will also use the money to confirm the diagnostic capabilities of its brain scanner in traditional hospital environments.
EMVision’s CEO, Dr Ron Weinberger, thanked the Government for awarding one of the largest medical research grants in Australian history.
“Building upon our successful pilot clinical trial at the Princess Alexandra Hospital, Brisbane, we will work alongside the ASA in the development and clinical validation of our game-changing products,” he said.
“Our lightweight and accessible devices aim to transform the management of stroke for clinicians and first responders whether they operate in urban or rural settings and importantly, provide desperately needed access to best-in-class telehealth-enabled stroke care in remote and indigenous communities,” he added.
EMVision Medical Devices is up 15.29 per cent, trading at $2.79 per share at 10:46 am AEDT.