EMVision Medical (ASX:EMV) has provided an update on its previously announced Modern Manufacturing Initiative grant.
The company is focused on the development and commercialisation of medical imaging technology.
It said it has received a formal letter of offer from the Commonwealth Department of Industry, Science, Energy and Resources verifying that its $5 million non-dilutive grant is proceeding.
The company said the grant will assist it to establish initial production of the first generation portable brain scanner product alongside supporting quality systems, engineering personnel and other relevant expenditure.
The grant funds to be received are weighted to $3,750,000 in the current financial year and $1,250,000 in the following financial year.
"EMVision is working with the Department of Industry, Science, Energy and Resources to finalise the funding documentation before the end of September," said the company.