05 May 2022 | News
EMVision to develop world's first portable brain scanner
Image credit: shutterstock
Australia's EMVision Medical Devices Limited, a medical device company focused on the development and commercialisation of medical imaging technology, has entered into a strategic Original Equipment Manufacturer (OEM) Agreement with Keysight Technologies Australia Pty Ltd.
In April 2019, EMVision and Keysight entered into a strategic collaboration to develop the custom healthcare-focused VNA solutions that are the subject of this Agreement. EMVision will receive exclusive supply of the “fast sweep” feature in the fully validated VNA, in the field of neuroimaging, during the term of the Agreement (including any period that the Agreement is renewed by both parties) subject to EMVision fulfilling annual product volume forecast commitments. The VNA volume commitment in the 12-month period is to supply the VNA units for the planned clinical trials.
The Agreement is for a 12-month period and can be renewed prior to expiry with Agreement by both parties. The Agreement sets out pricing for the supply of VNA units in the initial term. The financial impact to the Company in the initial 12-month term is not considered material. EMVision will benefit from Keysight’s technical support expertise globally. No other consideration is payable. The Agreement may be terminated by either party, for cause, unless the breach is cured within 30 days.
The VNA has enabled the EMVision device to be further miniaturised, making it ideal for environments — like ICUs and, in the future, ambulances — where space is at a premium. The integrated VNA also eliminates the need for expensive cabling, lowers the component count which further optimizes product margins whilst improving performance and ease of use. This Agreement lays the foundation for an ongoing partnership as EMVision realizes its product, clinical and commercialisation goals