EMVision Medical Devices (EMV) - Portability and Affordability for Brain Scans

Equity Bottom-Up

640 Views06 Apr 2021 08:09

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SUMMARY

EMVision Medical Devices Ltd (ASX:EMV) is developing a portable brain scanner for rapid, point-of-care stroke diagnosis and monitoring. The technology uses electromagnetic microwave imaging, the technology developed over 10-years by researchers at the University of Queensland, and potentially offers portability and affordability advantages over the current standard of care cost (MRI/CT scans). EMV listed on the ASX in November 2018, raising $6m at an issue price of $0.25/share. It raised a further $4.5m at $0.85/share in November 2019 and $9m at $1.42/share in July 2020. EMV has conducted a single study with 30 stroke patients receiving both the EMV scan and either an MRI and/or CT scan. The EMV scan was able to identify the type of stroke with an accuracy of 93.3%-96.0% and localise the correct quadrant with an overall accuracy of 86.7%-96.0%. The FDA has recommended the De Novo pathway for the product, designed for low-medium risk, first-of-a-kind products. EMV will engage with the FDA to confirm the required evidence the clinical trial performance data required. assuming and incorporating a pivotal clinical trial with the end design being finalised. The group ended December 2020 with net cash of $13.0m and in March 2020, in collaboration with the Australian Stroke Alliance, was the recipient of a Medical Research Future Fund Frontiers grant which delivers $8m in non-dilutive cash funding towards EMVision’s product development and clinical validation for hospital and pre-hospital models.

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