Singular charges into 2022 with a new research grant, and the first customer signup for its 3Dicom Surface technology
Health & Biotech
Health & Biotech
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With 2021 drawing to a close, Singular Health has secured a grant to extend its core 3Dicom software, and engaged the first commercial partner for its Surface software.
The company successfully applied for $99,936 in Innovative Manufacturing Cooperative Research Centre Activate funding, which it will match towards a research and development project to develop a Surface Scan to Model extension for its core 3Dicom Surgical software – to be known as 3Dicom Surface.
This project has total funding of $538,984, with the remaining funds to be provided by in-kind contributions from the CSIRO and Singular Health.
Singular Health (ASX:SHG) expects the project to unlock new markets for its Scan to Surgery technology by adding 3D visualisation of surface scans to 3Dicom’s existing CT/MRI/PET visualisation capabilities.
Deploying the 3D platform will help streamline the design of its external patient-specific prosthetics, casts and supports, the company said.
This view has received notable support from R&D partners – most notably by way of a binding memorandum of understanding (MoU) with Customa Pty Ltd.
Under the terms of the agreement, Customa will pay $50,000 to adapt the 3Dicom Surface software to scan the area around stomas (an opening in the abdomen), and design patient specific stoma seals that fit snugly.
It will also pay Singular $10,000 per annum to licence the software, plus $5 per scan upon the manufacture of 100 customised stoma seals using this process.
The current project development timetable hopes to see 3Dicom Surface capable of undertaking stoma scans to a standard that will allow for the manufacture stoma seals within nine months – though this is subject to change based on the success or otherwise of the R&D program.
And success in the sector could be lucrative, given that the global stoma care market is expected to expand at a CAGR of 6.6% from 2021 to 2028, to reach US$785.6m.
“We are very proud to be rounding out a highly successful year for Singular Health with another collaborative commercial project that showcases our ability to develop patient specific medical devices from radiological, and now surface, scans,” chief executive officer Thomas Hanly said.
“With this collaboration, our CSIRO R&D projects, and steady progress on our regulatory processes, we are excited for the next year ahead.”
Under the 3Dicom Surface R&D project, the CSIRO is providing $247,112 of in-kind staff and non-staff costs.
Australia’s peak national science agency is also licensing background IP in a medical computer-aided design that’s capable of future integration into the 3Dicom software.
Hanly noted that the company was once again engaging with research organisations to develop additional functionality for its core Scan to Surgery software.
“Working with IMCRC and CSIRO will enable us to expand our product offering beyond radiological imaging into LIDAR and photogrammetric external scans which paves the way for the creation of custom prosthetics, casts and much more,” he added.
This article was developed in collaboration with Singular Health, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.