WearOptimo's life-saving Microwearable sensor technology heads into production, with $30 million deal.
A revolutionary healthcare technology with potential to save millions of lives globally is poised to enter mass-production following the announcement of a $30 million deal in Australia.
The project will fund an advanced technology facility in Brisbane, Australia - a critical step to WearOptimo making and distributing its MicrowearableTM sensor health technology worldwide.
WearOptimo's inexpensive, pain-free wearable devices can give patients and their doctors early warning of life-threatening events such as heart attacks, heat stroke and other conditions. They represent a breakthrough in personalised medicine.
A partnership between the Queensland Government, The Australian National University (ANU), WearOptimo, and the Australian National Fabrication Facility (ANFF) will invest $30 million in a globally-competitive, high-tech manufacturing facility - based in Australia - for production of Microwearable sensors to reach into key healthcare markets.
WearOptimo's "sticker-like" Microwearable sensors provide real-time monitoring and fast, accurate reports on a patient's health to enable timely medical care. Potentially they can replace frequent blood tests for some of our most serious diseases.
WearOptimo founder and CEO, Professor Mark Kendall said the new devices are designed to vastly improve the lives of seriously ill patients.
"Our Microwearable sensors are at the cutting-edge of personalised treatment and healthcare," he said.
"The Microwearables we're working are designed to empower individuals and their healthcare providers - to put them in charge of tailored, rapid treatment and recovery.
"For example, we are developing Microwearable sensors to detect and alert to dehydration while people are on the job, or to dehydration in the elderly. Another type of our Microwearable sensor is being developed to help with the early detection of heart attacks and cardiovascular disease, which is responsible for 20 million deaths per year.
"We're working on tackling some of the biggest killers on the planet, so it is a real thrill to receive this support for our important work."
ANU Vice-Chancellor Professor Brian Schmidt said WearOptimo was a shining example of how university-backed research delivers significant outcomes for all Australians.
"One of our key missions is to help develop and deliver the products and industries of tomorrow that will make our lives better and power our prosperity as a nation," he said.
"WearOptimo is taking the latest breakthroughs in health and transforming them from bold ideas into everyday innovations that will make a major difference.
"This funding is a welcome boost to that mission and will ensure Australia is a global leader in healthcare for decades to come."
Founded in 2018, WearOptimo is based in Brisbane and became The Australian National University's first innovation company.
In 2020, WearOptimo signed a deal with Aspen Medical to export their wearable health sensors to markets all over the world.