ASX medtechs transforming brain diagnostics for better outcomes

• ASX medtechs are taking brain diagnostics beyond the hospital or clinical settings to the front lines of care
• EMVision’s First Responder portable brain scanning technology aims to speed up stroke detection for better patient outcomes
• Cogstate’s Cognigram Digital Cognitive Assessment System is used by physicians to detect changes in cognitive function

From sporting fields to ambulances, ASX medtech innovators are pushing brain diagnostics beyond hospital walls.

They are reimagining how we detect, monitor and understand brain health using real-time technologies that bring speed, precision and accessibility to the front lines of care.

Whether it’s scanning for stroke in the critical golden hour, tracking concussion impacts in athletes, or measuring subtle cognitive decline in increasingly ageing populations, these companies are tackling complex challenges in neuroscience.

Leading the charge are EMVision, Cogstate, HitIQ and Compumedics, each tackling brain health from a unique angle and driving a shift toward improving brain health evaluation.

EMVision to speed up stroke detection with portable scanners

According to the World Health Organization, 15 million people suffer a stroke each year, with five million dying, and another five million left permanently disabled.

Speed is critical. If treatment can be given during the “golden hour” – the first 60 minutes after a stroke occurs – patients tyically see far better outcomes. That is where EMVision’s First Responder technology is uniquely positioned to make a positive impact.

The company was founded in 2017 by CEO and managing director Scott Kirkland and colleagues who acquired the technology from UniQuest, the University of Queensland’s commercialisation arm, making its ASX debut in December 2018.

The company has started a pivotal trial to support US Food & Drug Administration (FDA) de novo (new device) approval for its first commercial bedside device, the emu, which is named after the fast-running native bird and is an abbreviation of “electromagnetic unit”.

EMVision’s emu and First Responder portable brain scanners deliver point-of-care neurodiagnostic capability in hospitals, regional clinics, ambulances, or emergency settings.

“Easier access to this type of information ensures patients get the care they need as quickly as possible,” Kirkland told Stockhead.

In March EMVision announced that the First Responder device had successfully undertaken volunteer scans in aeromedical environments.

As part of an ethics approved clinical study, the First Responder device withstood the rigours of aeromedical use in remote locations, in collaboration with the Royal Flying Doctor Service (RFDS) and the Australian Stroke Alliance (ASA).

“We’re excited to bring our technology to leading research centres in Australia and the United States and we look forward to future clinical use of our devices benefiting patients worldwide,” Kirkland said.

Cogstate detecting cognitive function

The CogState (ASX:CGS) Cognigram Digital Cognitive Assessment System is used by physicians to detect changes in cognitive function in patients by measuring processing speed, attention, visual learning, working memory, visual motor function and executive function.

The Cognigram system can be used to assess cognition on a single occasion or cognitive change over periodic assessments.

You may have even seen or heard of Cognigram referred to as the Cogstate concussion test and mentioned in footy coverage.

Cogstate is also benefiting from the strong global interest in cognition-related clinical trials, especially for Alzheimer’s disease.

In its H1 FY25 results, Cogstate reported a 19% surge in revenue to a record US$23.94 million, with an EBIT of US$4.8m, up 167% compared to previous corresponding period (pcp).

Alzheimer’s trials accounted for ~70% of Cogstate’s clinical trial revenue. The company is also targeting growth in trials for other indications such as multiple sclerosis, Parkinson’s disease, depression, epilepsy and oncology (where the studies have cognitive endpoints, such as for brain metastases).

“Cogstate has shown solid revenue growth in our clinical business, which has delivered bottom line earnings growth,” CEO Brad O’Connor told Stockhead .

“The question is, given an aging population and increasing incidence of neurodegeneration caused by conditions like Alzheimer’s, how are we empowering people in the community to both monitor and make decisions about managing their brain health?”

O’Connor said a recent report from the Alzheimer’s Association calls out that people want to know if something is going wrong as they’re noticing the first symptoms.

“Presently, we don’t provide people with the tools, which is both a challenge and opportunity.”

Compumedics making waves in brain imaging with TCD tech

While best known for its sleep technology, Compumedics (ASX:CMP) is also building a strong global reputation for its comprehensive neurodiagnostic solutions, spanning both clinical and research applications.

Compumedics’ DWL brain ultrasonic monitoring division has developed a transcranial doppler (TCD) which provides rapid, non-invasive, cost-effective repeatable, and real-time measures of cerebrovascular hemodynamics (blood flow dynamics in the brain’s vascular system) with a high diagnostic accuracy.

TCD is proving its value as a diagnostic tool across a wide range of brain-related conditions from stroke and mini-strokes to concussion, TBI, aneurysms and brain infections.

“TCD can be efficiently and effectively performed at the patient, bedside, in the ICU or operating theatre,” executive chairman and CEO David Burton said.

Compumedics is releasing a new robotic artificial intelligence TCD featuring a portable module that supports use in various positions – lying, sitting, or standing – enhancing its versatility.

“The lightweight bilateral units are designed to be easily attached to the patient’s head, similar to placing on a set of music headphones, allowing repositioning on either side of the head or both,” Burton said.

“This provides a flexible application in diverse clinical scenarios like emergency rooms, intensive care units, sports fields, battlefields, and ambulances.”

New research shows that TCD can help doctors assess pressure inside the skull, making it easier to manage patients with suspected idiopathic intracranial hypertension.

A study from the Neurology department at Chemnitz Medical Center in Germany found that intracranial pressure (ICP) could be estimated using continuous readings of blood pressure and blood flow in the brain, measured with Compumedics’ DWL TCD device.

“Imagine a football field where a player gets a knock to the head and the brain hits the inside of the skull, swelling like any bruised organism,” Burton said.

“However, because of  restrictions of the skull and tight space, the brain soon becomes highly pressured, which is very dangerous.”

Burton said on a sports field this is often compounded by a player who may initially behave and feel quite normal. Once the brain starts compressing against the skull their condition can deteriorate very rapidly.

“If the player gets another major or even minor knock this is referred to as a secondary concussion and can ultimately accelerate the high pressure within the skull region to health or life-threatening consequences,” he said.

“The use of AI and robotics to potentially bring TCD technology to sports fields could offer major benefits for protecting players’ brain health.”

HITIQ targets growing concussion management market

HitIQ (ASX:HIQ) is also capitalising on the expanding global concussion management market with a product suite that leverages advanced technology to support early identification, assessment, and monitoring of concussion risks.

HITIQ’s technology is used across various sports, with commercial agreements in place with the AFL, United Kingdom Sports Institute, and English Premier League.

The company is now shifting its strategic focus to the consumer market, targeting amateur and community-level athletes.

In its recent quarterly report, HitIQ announced the commercial rollout of PROTEQT, its consumer-focused concussion management system, scheduled for this month. PROTEQT aims to bring elite-level technology to grassroots athletes.

“PROTEQT incorporates an easy-fit boil-and-bite mouthguard that provides the protective qualities of a premium mouthguard whilst primarily functioning as state-of-the-art head impact surveillance technology, complemented by symptom assessment tools and teleconcussion services,” said chief commercial officer Damien Hawes.

“This addresses the critical need for accessible concussion management in community sports.”

HITIQ has secured a multi-year sponsorship-style agreement with the Victorian Amateur Football Association, covering 15,000 players aged 16–35, alongside a marketing agreement with Westfield Sports High School in Sydney.

Hawes said that HITIQ was close to finalising agreements with other community and regional Australian football leagues, as well as rugby league and rugby union organisations, as part of its ambition to reach 100,000 athletes aged 12 and over in the first year of the PROTEQT rollout.

At Stockhead, we tell it like it is. While EMVision and Compumedics are Stockhead advertisers, the companies did not sponsor this article.