The Victorian Government is investing $2 million to support the commercialisation of a world-first technology to treat brain injuries.
The state's Minister for Economic Growth, Tim Pallas, announced that Breakthrough Victoria will support medtech company Cyban 's work to secure US FDA approval for its Brain Pulse Monitor.
The monitor is being developed to enable brain oxygen monitoring without requiring invasive surgery to insert probes, reducing the risk of further injury to the patient by delivering reliable and continuous data to treating clinicians.
There are 27 million cases of traumatic brain injuries around the world every year. Cyban's device aims to enable the early detection of brain hypoxia to improve mortality rates and minimise damage, such as long-term disabilities.
Breakthrough Victoria's investment is part of an investment round with Significant Early Venture Capital and InterValley Ventures totalling around $ 3 million, which will help Cyban expand its workforce in Victoria from 13 to an estimated 50 by 2027.
Minister Pallas said, "This investment will take next-generation medical technology made in Victoria one step closer to breaking into international markets, giving countless more brain injury patients access to this exciting device."
Cyban founder Dr Barry Dixon added, "The investment from Breakthrough Victoria will help bring our brain monitoring technology to market faster and achieve our goal of advancing the way brain injuries are detected and managed all around the world."
