Breakthrough Victoria is investing $2 million in medtech company Cyban to support initial manufacturing of its ground-breaking device in Victoria and submission to the U.S. Food and Drug Administration for wider international adoption.
Cyban's technology monitors brain oxygen levels without the need for invasive surgery to insert probes, reducing the risk of further injury to the patient while delivering reliable data to treating clinicians.
With more than 27 million cases of traumatic brain injuries (TBIs) worldwide every year, this non-invasive, user-friendly device allows early detection of brain hypoxia, and could be the answer to improving mortality rates among brain injury patients and minimising damage such as long-term disabilities.
TBIs are also the second most costly health condition globally and reducing the need for surgical procedures, as well as accelerating treatment time and shortening hospital visits, will cut costs for hospitals while improving patient outcomes.
Breakthrough Victoria's investment is part of an investment round with Significant Early Venture Capital and Inter-Valley Ventures totalling around $6.25 million, which will also help Cyban expand its workforce in Victoria from 8 to an estimated 50 by 2027.
