Medaphor Group PLC Innovate UK grant award confirmed (8397D)
05 February 2018 - 6:00PM
UK Regulatory
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RNS Number : 8397D
Medaphor Group PLC
05 February 2018
MedaPhor Group plc
("MedaPhor" or the "Group" or the "Company")
Innovate UK grant award confirmed
MedaPhor initiates development of new Augmented Reality
NeedleGuide(TM) system
MedaPhor Group plc (AIM: MED), the intelligent ultrasound
software and simulation company, announces that it has today
initiated the first phase of development of NeedleGuide, its new
augmented reality imaging device, following confirmation of the
Innovate award funding, conditionally announced in November last
year.
The grant of GBP466,000 was awarded as part of Innovate UK's
Digital Health Technology Catalyst competition and will part-fund
the development of MedaPhor's NeedleGuide product, which the
Company believes has the potential to revolutionise interventional
ultrasound-guided needling.
Doctors use interventional needling in a variety of medical
procedures including tissue biopsy, cannula insertion and
administering regional anaesthesia, in a procedure known as
peripheral nerve block (PNB). For many of these procedures,
including PNB, the National Institute for Health and Care
Excellence (NICE) recommends that ultrasound guidance should always
be used.
NeedleGuide aims to combine existing technology developed by
MedaPhor, with expertise brought to the Group through the recent
acquisition of Intelligent Ultrasound Ltd. The augmented reality
headset projects the ultrasound view over the patient's anatomy,
highlighting the pathway the needle needs to follow to the target
and then uses artificial intelligence to automatically track the
needle tip to ensure that the operator is always aware of the
needle's position in relation to the key anatomical structures.
This minimises the potential for user error and offers the
opportunity for considerable savings to the hospital.
Commenting, Nicholas Sleep, Chief Technology Officer of
MedaPhor, said:
"We are delighted to have officially started this new phase of
product development. NeedleGuide has enormous potential to improve
patient outcomes, reducing the time and cost of these difficult
procedures. We believe that this technology could reduce the cost
of needling to all hospitals and have significant export potential
as a new and world-leading digital health technology."
Enquiries:
MedaPhor Group plc www.medaphor.com
Stuart Gall, CEO Tel: +44 (0)29 2075
Nicholas Sleep, CTO 6534
Cenkos Securities Tel: +44 (0)20 7397
8900
Camilla Hume/Bobbie Hilliam
(Nominated Advisor)
Michael Johnson / Julian
Morse (Corporate Broking)
Walbrook PR Tel: +44 (0)20 7933 8780 or
medaphor@walbrookpr.com
Paul McManus / Anna Mob: +44 (0)7980 541 893 / Mob:
Dunphy +44 (0)7876 741 001
About MedaPhor (www.medaphor.com)
MedaPhor (AIM: MED), the intelligent ultrasound software and
simulation company, develops advanced hi-fidelity haptic and
manikin based training simulators, clinical image analysis software
tools, augmented reality based needle guidance software and
artificial intelligence based automated scanning software for all
medical practitioners.
Based in Cardiff and Oxford in the UK and Atlanta in the US,
MedaPhor is split into two divisions:
Ultrasound Simulation and Training
Focuses on hi-fidelity ultrasound education and training through
simulation. Its three main products are the ScanTrainer(TM) OBGYN
and General Medical simulator training platform, the HeartWorks(TM)
echocardiography simulator platform and the BodyWorks Eve(TM)
Point-of-Care simulator platform (launching January 2018). Over 500
MedaPhor simulators have been sold to over 300 medical institutions
in over 30 countries around the world.
Intelligent Ultrasound
Focuses on developing augmented reality and deep-learning based
algorithms to make ultrasound machines smarter and more accessible.
ScanNav(TM) uses machine-learning based algorithms to automatically
identify and grade ultrasound images to provide scan assessment and
audit of obstetric scanning. NeedleGuide(TM) aims to simplify
ultrasound-guided needling by using deep learning and augmented
reality to provide the user with pathway guidance and automated
tracking for a range of medical procedures.
This information is provided by RNS
The company news service from the London Stock Exchange
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