Time is of the essence when a stroke occurs. Each minute that a stroke patient goes without treatment, 1.9 million brain cells die. Early intervention is key and medtech company EMVision Medical Devices (ASX: EMV) wants to help get stroke treatment underway faster. Their point-of-care brain imaging platform allows for rapid diagnosis of neurological conditions in any setting where conventional neuroimaging machines are not accessible or practical.
The clinically validated tech uses electromagnetic microwave imaging for diagnosis and monitoring of strokes. Having been developed over the last 10 years in conjunction with researchers at the University of Queensland, their first generation portable brain scanner is now almost at the point of commercialisation. The scanner has been manufactured and assembled, and is ready to be tested.
CEO of EMVision, Dr. Ron Weinberger said “This is an important milestone for the Company. Our product represents a game changing opportunity to provide accessible point-of-care neuroimaging for stroke patients, wherever they are. The value proposition for our scanner is simple- portable, accessible, fast, safe and affordable. We are tackling the immense health burden that is stroke, with potential future adjacencies in traumatic brain injury and other neurological disorders. We see an enormous market opportunity ahead in neuroimaging that is poised for disruption. Our device will undergo various tests as we prepare for our next stage of expanded clinical studies.”
The device has the support of the Australian Stroke Alliance, their co-chair Stephen Davis commenting: “It is encouraging to see the progress being made because portable scanning that provides high quality brain imaging would be indispensable, particularly for the one third of Australians who live in rural and remote communities and might suffer a stroke. If the research program is successful, these scanners could also be incorporated into standard ambulances and aircraft.”
EMVision’s bedside decision support imaging tech is currently undergoing pre-compliance and safety tests to ensure that the tech meets FDA, TGA and other regulatory standards.
With a strong cash position of $9.7 million as at 30th June, 2021, EMVision is well funded to realise their vision of providing a quick, diagnostic and monitoring solution for neurological illness.
Samantha Freidin is a business journalist at Emerald Financial whilst also completing a Masters of Marketing and Digital Communications at Monash University.
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