Oventus sleep apnoea project to receive $2,950,000 over three years
Sydney, Feb 8, 2017 - (ABN Newswire) - Oventus Medical Limited (ASX:OVN) today announced that it is the lead participant in a successful application for a grant in the 2nd round of the CRC-P[1] grants that from the Australian Federal Government. The project will receive $2,950,000 over three years for a project titled, “Targeted therapy for sleep apnoea: A novel personalised approach”.
Key Points:
- Oventus Medical is the lead participant on a successful Federal government 2nd round CRC-P project announced on 7th February 2017
- The project aims to improve sleep apnoea monitoring and treatments in collaboration with some of Australia’s leading researchers
- The project has been awarded funding of $2,950,000 over three years
- A key milestone in the commercialisation of the company’s current and future product portfolio
The project aims to improve the efficacy, compliance and monitoring of sleep apnoea therapy using a tailored suite of treatments to suit the needs of the individual patient. The range of therapies to be used, singularly or in combination, include oral appliances (with mandibular advancement and an airway) - with or without a positive airway pressure machine (with reduced pressure and air flow), supplemental oxygen delivery and/or a sleep consolidation aid. Oventus Medical is the lead participant with Medical Monitoring Solutions Pty Ltd[2], Neuroscience Research Australia (NeuRA), Western Sydney University (WSU) and CSIRO the other participants. Each participant has committed both cash and/or in-kind contributions for the duration of the project.
Neil Anderson, Oventus Medical CEO said, “We are proud to be the lead participant in this important CRC-P project and we thank the Australian government for awarding the grant. We believe that there is a large global opportunity for easier, better and more personalised therapy for people with sleep apnoea.”
Her added, “The grant will focus on new technologies evaluated in the recently completed pilot trial. These early results indicated that our appliances with an airway may be a viable alternative to CPAP in many patients, and for those that do need CPAP, at much lower pressures with a smaller pump.”
“It also allows us to evaluate an innovative monitoring technology from Medical Monitoring Solutions that can be used ongoing at relatively low cost, for treatment optimisation and clinical feedback.”
Notes:
[1] The Cooperative Research Centres (CRC) Programme is administered by AusIndustry, a division within the Department of Industry, Innovation and Science.
The Cooperative Research Centres (CRC) Programme is a competitive, merit based grant programme that supports industry-led and outcome-focused collaborative research partnerships between industry, researchers and the community.
[2] Medical Monitoring Solutions (MMS) Pty Ltd has licenced the Vitalcore technology from WSU. Vitalcore is a wearable vital signs monitor for both medical applications (eg sleep), and athletic monitoring. Neil Anderson and Dr Chris Hart are Directors and shareholders of both MMS and Oventus Medical. The latter in their roles as executive directors.
