MEG BRAIN IMAGING – MAJOR CONTRACT SECURED IN CHINA
Major magnetoencephalography (MEG) sale achieved to China’s prestigious Tianjin Normal University (TJNU) – home of the Faculty of Psychology
- Opens the door to the fast-growing Chinese neuroscience market & a world class and renowned University
- Represents the largest contract in Compumedics’ history, breaking the record set with the previous Orion LifeSpan™ MEG sale
- The installation will be the first Compumedics Orion LifeSpan™ MEG system to be specially configured for hyperscanning capability, that is neuroimaging of two subjects at the same time to study how they interact
- The above capability is made possible with the unique dual-helmet MEG technology pioneered and exclusively included with the Orion LifeSpan™
Compumedics Limited (ASX: CMP) (“Compumedics”) is pleased to announce a significant milestone in the ongoing development of its global MEG business with the confirmation of its second MEG sale and its first MEG contract in Asia to the world-renowned Tianjin Normal University (TJNU) in Tianjin, China. The sale, of its own, is material to Compumedics but is also important as it demonstrates the Company’s commitment to the potential future commercial opportunity of the MEG market, as highlighted in many prior company communications lodged with the ASX.
The instrument, along with a host of peripherals including simultaneous EEG, stimulators, computers, and CURRY neuroimaging software, will ship to TJNU late this calendar year. TJNU is investing approximately $6.25m to build up their new research-oriented neuroscience lab. Of this amount approximately $4.20m will be for the supply of the core MEG instrumentation by Compumedics, which at this point in time, will be booked as revenues late in H1 FY23 or early in H2 FY23. Compumedics’ partner in China, the Beijing Fistar Technology Co, Ltd. (Fistar) will ensure strong local pre/post-sale support for the newly established MEG lab.
TJNU, founded in 1958, has rich resources and excellent facilities with two faculties and twenty separate colleges, 2,531 faculty and 32,550 full-time students studying a complete range of disciplines. The school’s scientific capabilities are world-class and have won numerous awards for humanities and social sciences research achievements. The TJNU Brain Function Imaging Centre was established in 2019. It will include MRI, FNIRS, EEG/ERP, TMS and TCDS laboratories, alongside the Orion LifeSpan™ MEG. Research focuses on high efficiency learning, mental health, and cognition, studying intellectual development of school-age children in the areas of reading, learning, neural mechanisms, etc.
The installation of the new MEG system will, over time, establish a strong mutual key opinion leader centre of excellence for Compumedics in the large and fast-growing Chinese neurosciences marketplace. Multiple additional sales opportunities for the Orion LifeSpan™ MEG will be positively impacted by the decision of TJNU. The university’s selection of Compumedics was the result of a thorough technical review of all available MEG systems from multiple vendors and an open tender. The contract is effective immediately with standard termination provisions.
Compumedics, with its technology partner the Korea Research Institute of Standards and Science (KRISS), who have significant experience in developing and manufacturing multiple MEG systems over many years, has recently achieved a series of milestones in its continual development of the Orion LifeSpan™ MEG. This includes high-quality paediatric recordings, simulated hyperscanning from both MEG sensor arrays and powerful environmental interference cancellation via a newly implemented reference channel system.
Mr. Gordon Haid, Compumedics Global Neuro-Imaging Business Director, said:
“We are honoured and delighted to announce this special milestone in the evolution and advancement of our MEG technology. We view China as an important and large source of opportunities for MEG scientific research which is currently underutilised in the country. The endorsement of the TJNU selection committee serves as another significant step forward on our shared mission to advance understanding of the human brain. TJNU highlighted hyperscanning capability, optimised simultaneous MEG/EEG and the dual-helmet configuration to study brain development from child to adult as significant benefits of the Orion LifeSpan™.”
Dr. David Burton, Compumedics Executive Chairman and Chief Executive Officer noted:
“Whilst COVID restrictions over the past two years have proven challenging, we continue to remain focussed on advancing our Compumedics Neuroscan Orion LifeSpan™ MEG. We are pleased to have been awarded the prestigious open TJNU tender for our latest generation hyperscanning MEG system, demonstrating our continued commitment to providing world leading neuroimaging solutions. Even amidst the challenging pandemic, we have integrated the best of our KRISS, Compumedics, Neuroscan and CURRY teams’ technologies and efforts to design, fabricate and demonstrate our new hyperscanning MEG advancements. This system enables neurofunctional investigations simultaneously, interactively and comparatively across two individuals, thereby contributing to improved neuroscience research and ultimately enhancing brain healthcare.”
Dr. Xuejun Bai, Professor and Vice President of TJNU will be the Head of MEG Laboratory and Director of the Brain Functional Imaging Centre. Prof. Bai is the former Director of the Chinese Psychological Society. He studies psychological development using modern technologies such as eye-tracking, event-related potentials (ERPs), functional near-infrared spectroscopy (fNRIS) and functional Magnetic Resonance Imaging (fMRI). Specifically, his research focuses on the psychological mechanism of children’s reading ability; learning efficiency; mental health; and the development of positive interventions. Prof. Bai has published more than 300 scientific papers and has been awarded ten patents. Prof. Bai said: “The Orion LifeSpan™ MEG is set to revolutionize the way we study brain signals from adults, children and the interaction between two subjects simultaneously. The combination of uncompromising measurements from children, hyperscanning capability and powerful analysis software is exactly what is needed to advance our knowledge of the inner workings of the human brain.”
About Compumedics Neuroscan Orion LifeSpan™ MEG
MEG is a functional neuroimaging technique for mapping brain activity by recording magnetic fields produced by electrical currents occurring naturally in the brain using very sensitive detectors. Compumedics has revolutionised MEG with the Orion LifeSpan™’s increased precision coupled with fully integrated CURRY brain analysis software. Over a 30-year period Compumedics has established the gold standard in neurophysiological multi-modality (including MEG, EEG, MRI, CT, SPECT, PET) brain analysis software. In parallel, over a 30-year period the KRISS MEG team, led by Dr. Yong-Ho Lee, have produced the most advanced MEG brain imaging scanner.
At the heart of the Orion LifeSpan™ are MEG sensors based on Double Relaxation Oscillation Superconducting Quantum Interference Devices (DROS SQUIDs), which are patented and exclusive. They are significantly more accurate than conventional MEG sensors.
Additionally, a unique dual-helmet Dewar enables accurate measurements from adult and paediatric populations, along with hyperscanning. This includes a sensors-in-vacuum cooling system for more sensitive measurements. The Dewar is coupled to a virtual 100% coolant recycling system with continuous 24/7 operation. No refilling of helium is required, and 24/7 operation is possible.
About Compumedics Limited
Compumedics Limited [ASX: CMP] is a medical device company involved in the development, manufacture and commercialisation of diagnostics technology for the sleep, brain and ultrasonic blood-flow monitoring applications. The Company owns US based Neuroscan and Germany based DWL Elektronishe GmbH. In conjunction with these two subsidiaries, Compumedics has a broad international reach, including the Americas, Australia and Asia Pacific, Europe and the Middle East.
Executive Chairman Dr. David Burton founded Compumedics in 1987. In the same year the Company successfully designed and installed the first Australian, fully computerised sleep clinic at Epworth Hospital in Melbourne. Following this early success, Compumedics focused on the development of products that sold into the growing international sleep clinic and home monitoring markets.
Compumedics listed on the Australian Securities Exchange in 2000. Over the years, Compumedics has received numerous awards, including Australia’s Exporter of the Year, and has been recognised as a Top 100 Innovator by both German and Australian governments.
For further information please contact:
Dr David Burton
Executive Chairman, CEO
Phone: + 61 3 8420 7300
Fax: +61 3 8420 7399
Phone: + 61 3 8420 7300
Fax: +61 3 8420 7399
Bourse Communications Pty Ltd
T: +61 3 9510 8309, M: 0408 670 706
Authorised for lodgement by Compumedics Limited’s Board of Directors