EMVision receives $1.75 million grant milestone payment

Brain imaging company EMVision Medical Devices has announced receipt of a $1.75 million payment under the Modern Manufacturing Initiative (MMI) grant.

EMVision was awarded a grant worth $5 million in non-dilutive funding in May 2022 from the previous federal government’s MMI. The funding under the initiative’s Translation stream is to assist establishing commercial production of the company’s first-generation product, a portable brain scanner used for early stroke detection.

About $2 million of the $5 million was paid in October 2022, the company had previously announced, with the remainder to be paid when milestones are met in 2023 and 2024.

“Pleasing progress has been made against project milestones under the program, including design verification, progression of systems testing and certification, and preparation of technical documentation for release of the product in its multi-site clinical trials,” EMVision said in an ASX announcement on Tuesday. 

Activities to set up production layout and processes, alongside work and test instructions, had also progressed well, and were pre-requisites for product verification and validation activities as part of regulatory submissions, the company added.

“The final project milestones ‘manufacturing capability established’ and ‘first production run’ are anticipated to be achieved before May 2024 under the program, which is when the final grant payment of $1,250,000 is due.”

EMVision’s first-generation scanner, which uses microwave imaging techniques to detect strokes at an early stage, is targeted for bedside use in emergency departments and other clinical settings. 

A second-generation device, designed for first responders, is being developed in parallel under an $8 million R&D contract with the Australian Stroke Alliance.

Picture: credit EMVision

Further reading

Government grants EMVision funding for brain scanner

EMVision moves to new trial phase of stroke detector

EMVision signs $8m agreement with Stroke Alliance