Spectral MD Holdings, which is focused on artificial intelligence (AI) medical diagnostics for wound care, said it has been awarded a US$4mln grant from the Medical Technology Enterprise Consortium (MTEC) in the US.
The non-dilutive funding will be used to accelerate the development of the handheld DeepView SnapShot M, a device designed to enable rapid and accurate triage of injuries on the battlefield, particularly for those with severe burns.
The technology aligns with MTEC's mission of advancing technologies to protect and enhance the health and performance of US military personnel, Spectral said.
Chief executive Wensheng Fan added: "We are honoured to receive this award to support the military with the continued development of our DeepView technology, taking overall non-dilutive government funding commitments received to nearly US$130mln.
"We look forward to partnering with MTEC to advance our AI-driven diagnostic technology as we work toward FDA submission for the burn indication. Ultimately, we anticipate that our DeepView SnapShot M will transform wound care in many limited-access areas."
The AI-driven diagnostic technology developed by Spectral MD aims to revolutionise wound care in limited-access areas, including first responder, disaster preparedness, and acute care emergency settings.