EMvision Medical Devices raises $6m ahead of ASX listing for technology to help stroke victims.
Brisbane/Sydney based EMvision Medical Devices has successfully raised $6,000,000 after an oversubscribed Initial Public Offering (IPO), and will take its innovative medical imaging technology to the Australian Stock Exchange (ASX) with a listing date of Thursday 13th December 2018 at 2pm.
EMvision CEO Dr Ron Weinberger said: "Demand for the IPO was extremely encouraging, and we're pleased to say we gained strong support from institutional investors, clinicians and family offices and closed the book very quickly. We're offering a significant opportunity to have a powerful impact on improving stroke care throughout the world, and investors are clearly recognising this."
In partnership with the University of Queensland, EMvision is developing a portable, cost effective, non-invasive brain scanner that will speed up the diagnosis of brain injuries and stroke by creating rapid 3D images of the brain.
Due to its size and portability, the device is a drastic departure from today's stationary, complex and expensive stroke imaging technologies like CT and MRI, which are reliant on the patient being taken to the imaging technology.
In the technology's initial application, EMvision plans to use the device to monitor victims of stroke at their bedside while recovering, and detect the onset of subsequent strokes – half of which occur within a week of the first stroke.
Future versions of the device are also expected to provide rapid stroke decision support in ambulances, whereby patients having a stroke could be identified and transported directly to specialist hospitals for intervention.
"The brain ages about 3.6 years every hour that appropriate stroke treatment is delayed, so reducing the time of diagnosis and treatment makes our brain scanner a very attractive proposition for the healthcare industry. Our devices could become the difference between permanent disability or even death, and a positive recovery," Dr Weinberger said.
In a move that bolsters EMvision's credibility and growing reputation as a new medical technology company to watch, earlier in the year the company was awarded a $2.6 million CRC-P grant from the Australian Government (DIIS) to work with the University of Queensland, GE Healthcare and Brisbane's Princess Alexandra Hospital to advance its brain scanner program.
"We are very excited to be collaborating with these groups, who share our passion and commitment to developing a new standard of care, and we are looking forward to making this ground-breaking opportunity a reality,"
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