ASX-listed brain scanner technology company EMVision Medical Devices has announced the successful close of a $9 million capital raising.
The share placement was managed by Bell Potter Securities, and would be used to continue development of EMVision’s portable scanner. EMVision hopes its devices will be used to monitor strokes in hospital and eventually “provide ultra-early stroke type detection in ambulances.”
The company was spun out of University of Queensland, and listed on the ASX in December 2018 with an oversubscribed IPO, which raised $6 million. It uses electromagnetic microwaves to create images of a patient’s brain tissue.
The company announced in January that it has begun clinical trials at Princess Alexandra in Brisbane, and in April said images produced showed a strong correlation to MRI and CT scans.
Earlier this week, the company released preliminary images from the ongoing clinical trial “showing the device can successfully detect haemorrhagic (bleeds), and in a small patient cohort, distinguish between the two stroke types (clots and bleeds).”
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