EMVision Medical Devices Limited announced that it has received a cash progress payment of $1,750,000 under its Modern Manufacturing Initiative (MMI) grant award. EMVision was awarded $5 million in non-dilutive funding under the Federal Government's MMI Medical Products Translation stream to establish commercial production of EMVision's world first portable brain scanner 1st Gen product. Pleasing progress has been made against project milestones under the program, including design verification, progression of systems testing and certification, and preparation of technical documentation for release of the product in its multi-site clinical trials.

In addition, activities to set up production layout and processes, alongside work and test instructions have progressed well. These are prerequisites for product verification and validation activities that form part of regulatory submissions and for the establishment of commercial manufacturing capabilities. The final project milestones 'manufacturing capability established' and 'first production run' are anticipated to be achieved before May 2024 under the program, which is when the final grant payment of $1,250,000 is due.

Authorised for release by the Board of the Company.