EMVision Medical Devices Ltd (ASX: EMV) shares were on the rise today following news of two significant technology and product development breakthroughs from the company.
By the market’s close, the EMVision share price was trading at $3.16, up 4.29% from yesterday’s closing price of $3.03.
Let’s take a closer look at the latest news from EMVision.
What’s driving the EMVision share price?
EMVision shares responded positively today after the company announced it has developed two new technologies. These will work alongside its prototype portable electromagnetic (EM) imaging device, currently being developed as a brain scanner.
The EM imaging device differs from other imaging technology currently available as it releases both electric and magnetic fields from its antenna which interact with brain tissue to produce an image. It has the potential to provide clinicians with diagnostic information in a non-invasive, radiation-free manner.
EMVision states its two latest techniques have the potential to improve stroke diagnosis and care.
Once developed, the company hopes the two breakthroughs announced today can be accessed through its EM imaging device.
The first of these breakthroughs is dielectric mapping. Dielectric mapping may be able to provide clinicians with anatomical detail to help them assess the impact of a stroke.
The company hopes dielectric mapping technology can be used as an alternative to MRI or CT imaging in the future. It states this could be particularly beneficial in situations when traditional imaging techniques are unable to be used, such as in ambulances or in a patient’s home.
According to EMVision, its dielectric maps have been produced from data acquired by the company’s prototype brain scanner.
The second breakthrough announced by EMVision today is pulsatility. The company states pulsatility could potentially assist in the diagnosis of large vessel occlusion (LVO) for ischaemic strokes. LVO strokes are caused by a blockage to one of the major arteries in the brain. Early diagnosis and treatment of LVO strokes can have a significant impact on a patient’s outcome.
EMVision states that pulsatility technology could help reduce treatment delays and, therefore, the occurrence of resulting disability in patients. The technology could also minimise healthcare, insurer, and societal costs.
According to EMVision , since the technology has the potential to measure blood flow through the brain, it could help identify the degree of a blockage at its earliest stages. It could also help to localise any salvageable tissue and begin treatments to restore blood flow.
Australian Stroke Alliance co-chair Professor Stephen Davis commented in the company’s release, saying:
We hope that further advances in this technology will allow treatment of patients in rural and remote locations in Australia who would otherwise remain untreated.
Based on the very promising data from EMVision, we are engaged in preparing for multi-site clinical trials and it is hoped this will lead to future widespread application of this technology.
EMVision CEO Dr Ron Weinberger commented on the company’s breakthroughs, stating:
The dielectric maps will have a dramatic impact on the interpretation of data from our algorithms. For the first time using EM imaging, clinicians will be able to make good approximations to the anatomical region at which stroke occurs and will enable a visualisation of the EM image for clinicians that is familiar to them and what they have been looking at for decades [using] CT and MRI…
Pulsatility is a complimentary technique that alongside our existing diagnostic algorithms, has the potential to improve diagnosis and treatment and save more lives.
EMVision share price snapshot
Today’s news comes at a good time for EMVision shares as they’ve had a lacklustre performance on the ASX so far this year.
Following today’s boost, the EMVision share price is now up by 1.94% year to date. The company’s shares are, however, up by 295% over the last 12 months.
EMVision has a market capitalisation of around $214 million, with approximately 70 million shares outstanding.