Medical device maker EMVision has been awarded $5 million in funding by the Department of Industry, Science and Resources to aid commercialisation of its portable brain scanner.
EMVision was awarded the $5 million under the Modern Manufacturing Initiative grant award under the Medical products Manufacturing Translation steam to help establish commercial production of its 1st Gen, non-invasive and non-ionising portable brain scanner.
This production also includes supporting engineering personnel, equipment, tooling, and production line fit-out for the in-house manufacture, with additional project expenditure funded by the company’s cash reserves.
About $2 million has been paid as an upfront payment following the signing of the agreement, with additional funds paid in May 2023 and 2024.
EMVision chief executive Dr Ron Weinberger welcomed the government’s support of the Australian-made scanner.
“We are grateful for the support of the Department of Industry, Science and Resources to enable EMVision to manufacture our world-first product locally. This grant will support the commercialisation of our 1st Gen brain scanner and is consistent with our non-dilutive funding strategy,” he said.
This grant follows the company’s announcement of a series of trials for its portable brain scanners at hospitals in NSW and Victoria, focussing on stroke detection.