- EMVision Medical Devices (EMV) signs an $8 million project agreement with The Australian Stroke Alliance (ASA)
- Under the project agreement, EMVision will receive $8 million in staged payments over a five-year period
- This funding will support EMVision’s development and clinical validation of its first responder model for road and air ambulances
- It is subject to project progression in a way that warrants continued funding at each stage and the ongoing achievement of project milestones
- EMVision is up 4.26 per cent on the market with shares trading at $2.94 at 11:53 am AEST
EMVision Medical Devices (EMV) has signed an $8 million project agreement with The Australian Stroke Alliance (ASA).
Under the project agreement, EMVision will receive $8 million in cash funding in staged payments over a five-year period.
This funding will support EMVision’s development and clinical validation of its first responder model for road and air ambulances.
The funding is subject to project progression in a way that warrants continued funding at each stage and the ongoing achievement of project milestones.
EMVision will retain sole intellectual property (IP) and has agreed to pay the ASA a two per cent royalty of net sales.
The ASA may terminate the project agreement with 30 days written notice if EMVision is unable to meet a milestone and is unable to resolve it within a reasonable timeframe.
CEO Ron Weinberger commented on the agreement.
“We have been working closely with our colleagues at the Australian Stroke Alliance for number of years now,” Dr Weinberger said. “The support from the ASA in this time has been outstanding
“The support from the ASA in this time has been outstanding. We are pleased to advance our partnership with the signing of our project agreement and unlock our non-dilutive medical research future fund (MRFF) grant funding.”
EMVision was up 4.26 per cent on the market with shares trading at $2.94 at 11:53 am AEST.