12 December 2019, Brisbane.
In a recent announcement from Acting Health Minister Hon. Alan Tudge MP, WearOptimo received the news that it is to receive $980,000 from the Australian Federal Government as part of the BioMedTech Horizons (BMTH) program. The funding is specifically to drive its Cardiac Microwearables™ towards human clinical assessment.
As per the terms of their innovative strategic partnership, this amount will be dollar-matched by the Australian National University, and together with other cash contributions will amount to a total injection of $2.5 million for the company.
This is the second tranche of funding awarded to WearOptimo under this scheme, which is an initiative of the Medical Research Future Fund operated by the not-for-profit MTPConnect, to boost the growth of the Australian MedTech innovation sector.
Success of the project will address unmet needs in the diagnosis and monitoring of cardiovascular disease, the world’s biggest killer. Cardiac Microwearables™ provide continuous monitoring of parameters for the early detection of events such as heart attacks, in a simple, minimally invasive wearable device. This funding will expedite the progress of these minimally invasive wearable devices from preclinical to clinical evaluation, and then to the patients that need them the most.