EMVision raises $9m after brain scanner trial successfully distinguishes stroke types

AUSTRALIAN company EMVision Medical Devices (ASX: EMV) has successfully closed a $9million capital raising via a share placement at $1.42 led by Bell Potter Securities.

There was strong demand from both domestic and offshore institutions and wholesale investors, with bids covering the proposed placement amount multiple times. EMVision has become one of the top-performing ASX IPOs in recent years.

The funds will bolster EMVision’s balance sheet to advance development of their potentially life-saving brain scanner. The compact and transportable device aims to allow for rapid detection and monitoring of stroke in hospitals. Future generations of the device plan to provide ultra-early stroke type detection in ambulances. 

Earlier this week, EMVision released preliminary images from its ongoing clinical trial showing the device can successfully detect haemorrhagic (bleeds), and in a small patient cohort, distinguish between the two stroke types (clots and bleeds). 

EMVision managing director and CEO Ron Weinberger said, "While these results are preliminary and subject to further testing, they provide validation of the fundamental principles of the technology. We have now shown the ability to identify both stroke types, and importantly, distinguish between them. In the future our technology could greatly assist clinicians with earlier interventions and treatment choices.”

Treating stroke is time-critical. Treatment cannot begin until the type of stroke is diagnosed, with patients requiring transport to CT or MRI imaging to confirm the stroke type, meaning many patients are not diagnosed in time to receive the most effective treatment. 

EMVision’s solution is to bring stroke imaging to the patient, wherever they are located, and to help enable treatments and interventions as early as possible. The company’s first commercial device aims to offer bedside monitoring for stroke patients, a solution that does not exist today but could dramatically improve patient outcomes and lower healthcare costs. 

“The first-generation device intends to monitor progression of stroke at the bedside, detect complications or secondary bleeding and track response to treatments. Our clinical trial has also shown that the device integrates well into the hospital environment and is not invasive.” Dr Weinberger said.

Future versions of the device are also expected to provide rapid stroke decision support and triage in ambulances. This is a goal also shared by the Australian Stroke Alliance, of which EMVision is a commercial partner. Instead of transporting patients to hospital, the Australian Stroke Alliance intends to drive or fly Australian-designed, life-saving brain scanning equipment to patients, transforming their chances of survival and recovery.  

“Our vision, as a partner of the Australian Stroke Alliance, is to ensure that anyone who suffers a stroke in Australia can receive the urgent care they need, regardless of their location. And we plan to help make this vision a reality.” Dr Weinberger said.

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