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ASX-listed medical technology companies are expanding brain diagnostic capabilities outside hospitals or clinics, bringing them directly to the forefront of patient care.
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EMVision’s portable brain scanner designed for first responders is intended to accelerate stroke diagnosis, thereby improving patient results.
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The Cogstate Cognigram Digital Cognitive Assessment System is employed by doctors to identify alterations in mental capabilities.
Whether it’s on sports grounds or in emergency vehicles, ASX medical technology pioneers are extending brain diagnostic capabilities outside of hospitals.
They are revolutionizing our approach to identifying, tracking, and comprehending brain health through cutting-edge real-time technologies that deliver rapidity, accuracy, and ease-of-access to healthcare providers at the forefront of treatment.
Regardless of whether they're detecting strokes within the crucial first hours, monitoring head injury effects in sportspeople, or assessing slight mental deterioration in progressively older demographics, these firms are addressing intricate issues in neurology.
At the forefront are EMVision, Cogstate, HitIQ, and Compumedics, each addressing brain health from distinct perspectives and fostering advancements in enhancing neurological assessments.
EMVision aims to accelerate stroke diagnosis using portable scanning devices.
As per the guidelines from the World Health Organization
Each year, 15 million individuals experience a stroke; among these, five million pass away, while another five million face permanent disability.
Velocity is key. Administering care within the "golden hour" — the initial 60-minute window following a stroke onset — generally leads to much improved patient outcomes. This is precisely where EMVision’s First Responder technology aims to deliver significant benefits.
In 2017, CEO and Managing Director Scott Kirkland along with his team launched the company after acquiring the technology from UniQuest, which is the commercialization branch of the University of Queensland. The firm made its first appearance on the ASX in December 2018.
The firm has initiated a crucial trial aimed at securing US Food & Drug Administration (FDA) de novo (new medical device) approval for its inaugural commercial bedside gadget, known as the emu. This moniker draws inspiration from both the swift-moving indigenous Australian bird and serves as shorthand for "electromagnetic unit."
EMVision’s emu and First Responder mobile brain scanners provide on-site neurological diagnostic capabilities in hospitals, rural health centers, ambulances, or urgent care environments.
"Improved accessibility to such information guarantees that patients receive the necessary care promptly," Kirkland explained to vtrik.
In March, EMVision reported that the First Responder device had completed successful volunteer scans in aeromedical settings.
In line with an ethics-approved research project, the First Responder device proved resilient for aeromedical applications in distant areas, working alongside the Royal Flying Doctor Service (RFDS) and the Australian Stroke Alliance (ASA).
"We're thrilled to introduce our technology to premier research facilities in Australia and the United States, and we anticipate the future clinical application of our devices will improve patient care globally," Kirkland stated.
Cogstate detecting cognitive function
The
CogState (ASX:CGS)
The Cognigram Digital Cognitive Assessment System assists doctors in identifying alterations in patients' cognitive functions through evaluations of processing speed, concentration, visual learning abilities, working memory, visual-motor coordination, and executive functioning.
The Cognigram system can be utilized to evaluate cognition during a one-time session or track changes in cognitive function through repeated evaluations.
You might have come across Cognigram being called the Cogstate concussion test and referenced in football broadcasts.
Cogstate is also seeing growth due to the significant worldwide demand for cognitive clinical trials, particularly those focused on Alzheimer’s disease.
In its first-half fiscal year 2025 financials, Cogstate announced a significant increase in revenue by 19%, reaching a high of $23.94 million USD. The company also saw a substantial rise in earnings before interest and taxes (EBIT) to $4.8 million, marking a growth of 167% from the same time last year.
Approximately 70% of Cogstate’s clinical trial revenue came from Alzheimer’s trials. The firm aims to expand into other areas like multiple sclerosis, Parkinson’s disease, depression, epilepsy, and oncology (in cases where the research includes cognitive outcomes, such as those related to brain metastases).
"Cogstate has demonstrated consistent revenue expansion within our clinical division, resulting in improved profitability," stated CEO Brad O'Connor to vtrik.
The key issue at hand is, considering our growing elderly demographic and the rising occurrence of neurological decline from diseases such as Alzheimer’s, what measures are being taken to equip individuals within communities with the tools needed for tracking and making informed choices regarding their cognitive well-being?
O'Connor mentioned that according to a recent report from the Alzheimer’s Association, individuals are eager to identify issues when they start observing initial signs of the condition.
At present, we aren't equipping individuals with the necessary tools; this situation presents both a challenge and an opportunity.
Compumedics stirring up attention in brain imaging through their TCD technology.
Although most recognized for its sleep innovations,
Compumedics (ASX:CMP)
is also establishing a robust international reputation for its extensive neurodiagnostic offerings, covering both clinical use and research purposes.
Compumedics' DWL brain ultrasonic monitoring unit has created a transcranial Doppler (TCD) device offering swift, non-invasive, economical, consistent, and immediate assessments of cerebral blood flow dynamics within the brain's vascular network, boasting a high level of diagnostic precision.
TCD is demonstrating its worth as a diagnostic instrument for numerous brain disorders ranging from strokes and mini-strokes to concussions, TBIs, aneurysms, and brain infections.
Executive Chairman and CEO David Burton stated that TCD can be efficiently and effectively carried out at the patient’s bedside, within the ICU, or even in the operating theater.
Compumedics is launching a new robotic AI transcranial Doppler device with a portable unit designed for flexible positioning, allowing usage whether the patient is lying down, seated, or standing up, thus increasing its adaptability.
"The lightweight devices are intended to attach effortlessly to the patient's head, much like putting on a pair of audio headphones, enabling them to be moved to either side of the head or used on both sides," Burton explained.
This offers adaptable use across various medical settings such as emergency departments, critical care wards, playing fields, combat zones, and mobile clinics.
Recent studies indicate that TCD can assist physicians in evaluating intracranial pressure, thereby simplifying the care of individuals who have idiopathic intracranial hypertension.
Research conducted by the Neurology division at Chemnitz Medical Center in Germany has revealed that intracranial pressure (ICP) can be assessed through ongoing monitoring of blood pressure and cerebral blood flow, utilizing the Compumedics' DWL TCD device for measurements.
"Picture a football field where a player receives a blow to the head causing their brain to hit against the interior of the skull, leading to swelling similar to any other injured tissue," explained Burton.
Nevertheless, due to the constraints of the skull and limited space, the brain quickly experiences high pressure, posing significant danger.
Burton mentioned that on a sports field, an athlete might appear and feel perfectly fine at first. However, once the brain begins to press against the skull, their state can decline extremely quickly.
"If the player receives another significant impact, whether major or minor, this is termed a secondary concussion and may potentially exacerbate the elevated intracranial pressure leading to severe health issues or even posing a threat to their life," he explained.
The application of artificial intelligence and robotics to introduce TCD technology onto sports fields might provide significant advantages for safeguarding athletes' brain health.
HITIQ aims at expanding concussive care sector.
HitIQ (ASX:HIQ)
is also tapping into the growing worldwide market for concussion management through a range of products that utilize cutting-edge technology to facilitate early detection, evaluation, and tracking of concussion hazards.
HITIQ’s technology spans multiple sports, boasting commercial partnerships with entities such as the Australian Football League (AFL), UK Sport, and the English Premier League.
Now, the company is redirecting its strategic attention towards the consumer market, aiming at amateur and community-based athletes.
In their latest quarterly statement, HitIQ revealed plans for the market launch of PROTEQT, a consumer-oriented concussion management solution set for this month. The aim of PROTEQT is to provide high-end technology typically reserved for professional athletes to community sports participants.
"PROTEQT features a simple-to-use boil-and-bite mouthguard that delivers the protective benefits of high-end mouthguards, while mainly serving as advanced head-impact monitoring technology," explained Chief Commercial Officer Damien Hawes. This device also includes symptom evaluation tools along with tele concussion services for enhanced care.
This tackles the essential requirement for manageable concussion care in local athletics.
HITIQ has entered into a multi-year partnership deal with the Victorian Amateur Football Association, which encompasses 15,000 participants between the ages of 16 and 35, along with a marketing arrangement with Westfield Sports High School located in Sydney.
Hawes mentioned that HITIQ was nearing completion of deals with various local and national Australian soccer leagues, along with rugby league and rugby union bodies, aiming to involve 100,000 participants aged 12 and older within the initial phase of the PROTEQT launch.
At Vtrik, we call things as they are. Even though EMVision and Compumedics are advertisers at Vtrik, these firms did not fund this piece.
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ASX-listed medical technology companies revolutionizing brain diagnostics for improved outcomes
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