Spectral MD Holdings Ltd (AIM:SMD) said it received an additional US$8.2mln in funding from the US Biomedical Advanced Research and Development Authority (BARDA) to accelerate the commercialisation of its DeepView technology.
The analytics and technology company said this latest funding supplements the last award announced last September of US$18.8mln, taking total funding from BARDA into Spectral to over US$100mln since 2013.
According to a statement, the funding will “further accelerate commercialisation” of DeepView, its wound imaging system, by increasing the number of sites for clinical training studies.
DeepView’s burn training study will be expanded to include pediatric sites and emergency departments, and it anticipates this additional data will improve the accuracy of the technology in predication wound healing, currently at 88%, as well as establish a clinical benchmark for its burn healing assessment.
Funding will also allow additional features to be added, including the integration of electronic health records (EHR) as the US federal and state governments continue to promote the adoption of EHRs.
“Importantly, this award expedites bringing this transformative technology to market and will ultimately change the standard of care for burn diagnosis and treatment in the US,” said chief executive office Wenhsheng Fan.