EMVision Medical Devices receives progress payment under manufacturing grant

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EMVision Medical Devices (ASX:EMV) has received a cash progress payment of $1,750,000 under its Modern Manufacturing Initiative (MMI) grant award.

EMVision was awarded $5 million in non-dilutive funding under the federal government’s MMI Medical Products Translation stream to establish commercial production of the company's world-first portable brain scanner first-generation product.

The company said that positive progress has been made against project milestones under the program, including design verification, progression of systems testing and certification, and preparation of technical documentation for the product's release in its multi-site clinical trials.

It also said that activities to set up production layouts and processes, alongside work and test instructions, have progressed well.

It added that the final project milestones, ‘manufacturing capability established’ and ‘first production run’, are anticipated to be achieved before May 2024 under the program. This is when the final grant payment of $1,250,000 is due.