EMVision Medical Devices (ASX: EMV) has received a $600,000 payment after achieving an “important milestone” for its second-generation first responder stroke detection device.
The payment comes from the Australian Stroke Alliance, as part of the Commonwealth of Australia Medical Research Future Fund program.
Under a project agreement with the Australian Stroke Alliance, EMVision will receive $8 million in staged payments over a five-year period.
To-date, EMVision has received $1.8 million with $6.2 million remaining.
In securing the latest $600,000 payment, milestone activities that EMVision has completed comprise gathering extensive data on end-user requirements.
This has included workshops with VIC Ambulance, NSW Ambulance and the Royal Flying Doctor Service.
These activities aim to ensure the second-generation first responder stroke detection scanner is easy to operate and can be seamlessly integrated into clinical workflows.
Leveraging first generation in-hospital scanning technology
EMVision’s second-generation device leverages the core technology of the first-generation in-hospital bedside scanner.
The proposed head design for the second generation first responder scanner includes a hybrid antenna array, proprietary coupling cap and integrated neck, head and shoulder support.
EMVision chief executive officer Dr Ron Weinberger said the company had made “important progress” on the second-generation device, while it worked in parallel with refining its first generation in-hospital scanner.
“The extensive work done by our team will ensure the device is fit for purpose and meets all the end-user needs – a critical part of the design process.”
Dr Weinberger added there would be further updates on both devices as more milestones are achieved in the “near-term”.
In addition to the $8 million grant from the Australian Stroke Alliance, EMVision announced last month it had secured $5 million in funding under the Australian Federal Government’s modern manufacturing initiative (MMI).
The grant will help EMVision in establishing manufacturing capabilities at a commercial scale so it can sell its units once regulatory clearances have been gained.
EMVision expects this $5 million in funding will be instrumental in establishing a local manufacturing base in New South Wales.