MedTech company EMVision (ASX: EMV) has signed an exclusive 12-month agreement with Keysight Technologies (NYSE: KEYS) for the use of its “fast sweep” technology, providing the business with a “substantial competitive advantage”.
The deal enables the Brisbane-based company to reduce the size of its breakthrough neuroimaging device, which uses electromagnetic microwave imaging to diagnose and monitor stroke and other neurological disorders, so that it can be used in intensive care units (ICUs) and ambulances.
EMVision acquired its leading medical imaging IP product from the University of Queensland after 10 years spent on research and development. The technology is now closing in on its potential to improve the survival rate and limit the long-term impact of strokes.
“This agreement is one we’re extremely excited about, and we couldn’t ask for a better partner than Keysight,” EMVision CEO and Managing Director Dr Ron Weinberger said.
“The integration of the Keysight Vector Network Analysers (VNA) accelerates our pathway to commercialisation, allowing us to bring a best-in-class portable imaging solution one step closer for patients and clinicians,” Weinberger, the former CEO of Nanosonics' (ASX: NAN) added.
“Keysight’s support of our mission to deliver a faster, more accessible diagnostic tool promises great benefit to stroke patients around the world, and I look forward to the commercial phase of our relationship.”
For Keysight, a leading global radiofrequency technology worth US$26 billion ($36.5 billion), the contract marks its first foray into the med-tech sector.
"As a technology leader, Keysight is committed to working with industry experts like EMVision to drive breakthroughs in emerging medical technologies,” Keysight Technologies senior vice president Huei Sin Ee said.
“Combining Keysight's test and measurement expertise and best-in-class solutions with EMVision's clinical product development expertise is anticipated to revolutionise emergency stroke diagnosis and treatment.
"This strategic agreement between our companies is a mark of our commitment to create a safe and healthier world, and we look forward to deepening our partnership with EMVision to fulfil this vision."
EMV's new partner is however not free of controversy. Late last year the Washington Post reported Russian censors had purchased several internet traffic analysis solutions developed by Keysight subsidiary IXIA.
EMVision will use Keysight’s customised VNA technology in its proprietary “pulsatility” technique to measure cerebral blood flow through high fidelity imaging, dramatically shrinking the physical footprint of the device.
With more than 445,000 Australians currently living with the effects of stroke, the partnership accelerates EMVision’s pathway to delivering faster diagnosis and treatment decisions through its point-of-care, non-invasive, non-ionising, safe, rapid brain scanner.
“We are pleased to partner with EMVision to contribute to the development of the new generation of portable brain scanners that will help transform point-of-care services,” Keysight Technologies general manager of general electronics measurement solutions, Boon Juan Tan, said.
“This world’s first portable brain imaging solution is enabled by the game-changing ‘fast sweep’ technology, which provides real-time diagnosis within the golden hour to save lives.”
EMVision is currently undergoing in-hospital and pre-hospital device development as it prepares for its upcoming expanded, multi-centre clinical trials across NSW, VIC and QLD.
This follows encouraging results from EMVision’s first clinical trial with stroke patients at the Princess Alexandra Hospital in Brisbane, as the business looks to support future regulatory clearances from the Therapeutic Goods Administration (TGA) and the U.S. Food and Drug Administration (FDA).
EMVision’s team of 20 researchers is led by co-inventor Professor Amin Abbosh, who is considered a global leader in electromagnetic microwave imaging. EMVision’s Chief Scientific Officer is Professor Stuart Crozier, a co-inventor globally renowned for creating technology central to most MRI machines manufactured since 1997.
With interest growing in the EMVision’s IP portfolio, which includes 11 patent families across software, hardware, calibration and imaging techniques, the business is engaging with large imaging and accessories companies in the EU, USA, China and Japan to develop long term commercial relationships.
On the back of the announcement, shares in EMVision (ASX: EMV) rose by 8.25 per cent to $2.10 per share as of 12.30 pm AEST.
The share price has been steadily declining since peaking in November 2020 at $4 per share, but is still significantly higher than the opening price of $0.34 per share in December 2018.
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