Sponsored

BPH’s investee Cortical Dynamics awarded AU$137,000 by MTPConnect - Kalkine Media

May 13, 2022 03:21 PM AEST | By Akshay
Follow us on Google News:

Highlights

  • Cortical Dynamics Limited has been awarded AU$137,000 funding for its medical device, Brain Anaesthesia Response Monitor (BARMTM).
  • The fund would be used to further develop its Brain Anaesthesia Response Monitor (BARMTM) and implement brain data monitoring and feedback.
  • The grant was secured from the fourth round of the BioMedTech Horizons (BMTH) program.

In a critical update, BPH Energy Ltd (ASX:BPH) announced that its investee company Cortical Dynamics Limited has been awarded AU$137,000 funding for its medical device, Brain Anaesthesia Response Monitor (BARMTM).

The AU$137,000 funding was awarded to Cortical Dynamics to further develop its Brain Anaesthesia Response Monitor (BARMTM) in order to optimise patient experience under anaesthesia and also to implement brain data monitoring and feedback.

The grant was secured from the fourth round of the BioMedTech Horizons (BMTH) program, a Medical Research Future Fund’s (MRFF) initiative, which was delivered by MTPConnect.

Cortical Dynamics is an Australia-based medical device technology company which targets to disrupt the medical devices industry with a cutting-edge brain function monitoring product. The technology is already widely recognised by leading experts in anaesthesia across the globe.

The proprietary product, BARM™, is already regulated by CE, TGA and Korea MFDS. BARM™ follows a physiological approach to measure effects of anaesthetic drugs on brain electrical activity for surgical operations under General anaesthetic. The BARM™ algorithm is conceptually inspired by the model of the electrical activity of brain (EEG) in humans.

Also Read: Why are BPH Energy Shares Hot on ASX Today?

Cortical Dynamics is among the three companies selected for the monetary award.

Talking about the BMTH program, Stuart Dignam, the CEO of MTPConnect, said that the program was designed to support the development of the Australian medical device sector.

Adding on, he said -

“Targeted funding provided through our BMTH program addresses gaps in early biomedical and medical technology product development and this round focused on the further development of pre-commercial prototypes entering human clinical trials. From the three selected projects, patients in the future are set to benefit from improved outcomes when they are anaesthetised; better diagnosis, treatment and management of functional gastrointestinal disorders; and better predictive tests, diagnosis and treatment for diabetic kidney disease.”

The selected projects need to take critical steps to further develop their medical technologies towards the commercialisation of their products. The collective funding allocated to the selected projects has leveraged an additional $1.04 million in contributions from the industry, enhancing the total fund inflow into the healthtech sector to $1.94 million. Altogether, 49 projects have been funded across four rounds of the BMTH program.


Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Pty Ltd (Kalkine Media, we or us), ACN 629 651 672 and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated as or found to be necessary.



Top ASX Listed Companies

We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it. OK