Hospital care innovation for traumatic brain injuries
Breakthrough Victoria is investing $2 million in Cyban, a Melbourne medtech company developing a non-invasive medical device that continuously monitors oxygen levels in the brain without requiring brain surgery to insert a probe.
Hospitals currently monitor oxygen levels in patients with a brain injury through doctors and nurses doing visual checks of their breathing or by inserting a probe into the patient’s brain during surgery.
Cyban’s device hopes to improve outcomes for hospital patients with fewer medical complications, less risk of disability or death and shorter stays in intensive care units, which also delivers cost savings for hospitals.
Cyban founder Dr Barry Dixon said, “The investment from Breakthrough Victoria will help bring our brain monitoring technology to market faster and achieve our goal of advancing the way brain injuries are detected and managed all around the world.”
Breakthrough Victoria joins Significant Early Venture Capital and InterValley Ventures as part of Cyban’s $6.25 million Series A funding round. The funds raised will allow the company to obtain regulatory approval in Australia and the United States, and begin manufacturing their device in Victoria.
Breakthrough Victoria CEO Grant Dooley said, “We believe Cyban has the potential to scale globally with its breakthrough medical device that helps save lives and reduce the cost of hospital care around the world.”
Minister for Economic Growth Tim Pallas said, “This investment will take next-generation medical technology made in Victoria one step closer to breaking into international markets, giving countless more brain injury patients access to this exciting device.”
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