EMvision Medical Devices (ASX: EMV) has successfully listed on the Australian stock exchange following an over-subscribed IPO that raised $6 million.
The company, which makes a new type of non-invasive brain scanner to detect stroke, will use the funds to continue human trials and refine its prototypes intended to be carried in ambulances by first responders.
CEO Dr Ron Weinberger said: “Despite recent advances in life-saving treatments for acute stroke, only a fraction of stroke patients qualify for intervention because they do not present and have their condition diagnosed early enough.
“This is why reducing the time of diagnosis and treatment makes our brain scanner an attractive proposition for the healthcare industry.”
Unlike bulky MRI and CT scanners, EMvision utilises microwaves and sophisticated algorithms developed at the University of Queensland to produce a 3D image of the brain and detect stroke.
The clinical prototype now undergoing test features ‘an optimised antenna array, innovative signal capture plus image processing algorithms, and machine learning driven boundary conditions and stroke classification’.
The prototypes built at the University by Professors Amin Abbosh and Stuart Crozier, will be further developed so they can be carried aboard ambulances to provide very early first detection of stroke.
Dr Weinberger is an experienced medical technology entrepreneur, as he formerly headed the successful technology business Nanosonics, which is now valued at more than $1 billion.
EMvision’s product development is the work of Robert Tiller of Tiller Design, who also developed the Nanosonics’ Trophon EPR device used to disinfect ultrasound probes.
EMVision was recently awarded a $2.6 million CRC-P grant from the Australian Government to work with UQ, GE Healthcare and The Princess Alexandra Hospital to advance its brain scanner programme.
A further $910,000 has since been committed by these partners.
Photos: EMvision/EMvision brain scan, and portable scanner
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