Keysight takes $15 million stake in EMVision

US technology company Keysight Technologies has taken a strategic stake worth $15.28 million in medical imaging company EMVision.

In a statement on Thursday, EMVision said the investment represented a significant milestone, and would accelerate commercialisation of the portable brain scanner emu, its first product.

Keysight will be issued 7,454,231 new ordinary shares at $2.05 per share, and acquire an 8.73 per cent shareholding in the Australian startup.

The American company’s market capitalisation is $US 26 billion (about $40 billion.)

The investment represented a “fully funded commercial runway” for emu, which processes microwave signals from an array of antennas/receivers on a silicone cap worn by a patient to rapidly evaluate if a stroke has been suffered.

“Keysight’s investment is an endorsement of our mission to improve global stroke outcomes and we’re thrilled to embark on this next phase of growth together,” said Scott Kirkland, EMVision’s co-founder and CEO. 

“Their commitment to being at the frontline of innovation aligns perfectly with EMVision’s progress towards making ubiquitous portable brain imaging a reality.”

Besides the bedside-format device, EMVision is also developing a backpack-sized first-responder version of its technology, designed for use in road and air ambulances.

Keysight Technologies President, Electronic Industrial Solutions Group, Huei Sin, said, “We are delighted to strengthen our relationship with EMVision as we forge ahead in pioneering ground-breaking advancements in medical imaging technology.

“Keysight’s technology leadership, particularly our industry-leading data acquisition speeds, alongside EMVision’s brain scanning innovation, strategically positions our companies to spearhead significant developments in cutting-edge imaging solutions.” 

ASX-listed EMVision was spun out of University of Queensland in 2017 and had its IPO in late-2018.

Kirkland and EMVision recently featured as part of @AuManufacturing’s ongoing Australia’s 50 Most Innovative Manufacturers campaign. The story and podcast interview can be accessed here.

Picture: Kirkland with an emu unit

Further reading

EMVision further develops its portable stroke scanner

EMVision’s promising results from stroke imaging

EMVision moves to new trial phase of stroke detector

Government grants EMVision funding for brain scanner