Critical investment is accelerating the commercialisation of world-first Victorian technology to treat brain injuries and potentially benefiting patients around the globe.
Victoria’s independent innovation fund Breakthrough Victoria has invested $2 million to support medtech company Cyban’s drive to win US Food and Drug Administration (FDA) approval for its patented Brain Pulse Monitor.
Cyban’s technology enables brain oxygen monitoring without the need for invasive surgery to insert probes, reducing the risk of further injury to the patient by delivering reliable and continuous data to treating clinicians.
Founder Dr Barry Dixon is an intensive care specialist and his experience at hospitals including St Vincent’s Hospital in Melbourne has been crucial in development of the monitor, which uses sensors placed on the patient’s head.
Cyban is in the process of completing its FDA submission with use expected at major US hospitals in 2024 following FDA clearance.
The company is also conducting clinical trials at Melbourne’s St Vincent’s, The Alfred, Royal Melbourne Hospital and Ballarat Hospital, as well as Scotland’s Royal Edinburgh Infirmary and Cleveland Clinic Ohio in the United States.
There are 27 million cases of traumatic brain injuries around the world every year. The device aims to enable early detection of brain hypoxia to improve mortality rates and minimise damage such as long-term disabilities.
Traumatic brain injury is the second most costly health condition globally behind cardiovascular disease and reducing the need for surgery, as well as accelerating time to treatment and shortening hospital stays, 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 InterValley Ventures totalling around $6.3 million, which will help Cyban expand its workforce in Victoria from 13 to an estimated 50 by 2027.
Medtech is booming in Victoria with some 660 medtech-related companies employing more than 9,000 workers.
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