- EMVision Medical Devices (EMV) spikes in early trade after assembling its first commercial portable brain scanner for testing
- The device is designed to scan the human brain to monitor strokes and diagnose other conditions and is portable
- After completing previous clinical tests, EMVision says it has assembled the first generation of portable brain-scanning devices for commercialisation
- The first-gen EMVision device will now undergo several tests as the company builds towards its next stage of clinical studies for the device
- Shares in EMVision are up 11.79 per cent and trading at $2.94 each at 10:45 am AEST
Meditech company EMVision Medical Devices (EMV) has spiked in early trade after assembling its first commercial portable brain scanner for testing.
The company has been developing an electromagnetic microwave imaging device to scan the human brain to monitor strokes and diagnose other conditions.
Importantly, EMVision’s device is made to be portable, meaning it’s designed for use in hospitals, clinics, and other settings where conventional neuroimaging machines aren’t available.
Today, EMVision said it has successfully fabricated and assembled the alpha units of its first generation of portable brain scanning tech for commercialisation.
CEO Dr Ron Weinberger said this was an important milestone for the company.
“Our product represents a game-changing opportunity provide accessible point-of-care neuroimaging for stroke patients wherever they are,” Mr Weinberger said.
“The value proposition for our scanner is simple — portable, accessible, fast, and affordable.”
He said the company’s tech is designed to tackle the “immense health burden” of strokes, though it has the potential future applications for traumatic brain injuries and other neurological disorders.
“We see an enormous market opportunity ahead in neuroimaging that is poised for disruption,” he said.
Today’s news follows several successful clinical trials completed for the portable brain scanner technology.
The first-gen EMVision device will undergo several tests as the company builds towards its next stage of clinical studies for the device.
Specifically, EMVision said the devices will be tested for functionality, reliability, software and hardware integration, preliminary safety, and more to ensure the device meets international regulatory standards.
Co-chair of the Australian Stroke Alliance Professor Stephen Davis said the research program for the EMV product is successful, the portable brain scanners could be used in standard ambulances and aircraft.
“It is encouraging to see the progress being made because portable scanning that provides high-quality brain imaging would be indispensable, particularly for the one-third of Australians who live in rural and remote communities who might suffer a stroke,” Professor Davis said.
Shares in EMVision were up 11.79 per cent and trading at $2.94 each at 10:45 am AEST. The company has a $211 million market cap.