Seeing Machines Limited
14 August 2006
14 August 2006
SEEING MACHINES LIMITED
('Seeing Machines' or 'the Company')
AUSTRALIAN GOVERNMENT APPROVES GRANT APPLICATION
Seeing Machines Limited (AIM: SEE), a leading developer of advanced computer
based imaging software systems, has been advised by AusIndustry that its
application for an Australian Federal Government Commercial Ready Grant
supporting its glaucoma diagnostic device development project has been approved,
conditional on finalising normal contractual arrangements. The grant provides
matching funding of up to AUD$2.1 million over 2 years to support the continued
development and commercialization of the glaucoma device.
Seeing Machines' glaucoma device is a non-contact objective device designed to
reliably and quickly measure a person's functional visual field. Assessing
visual field is crucial in diagnosing a range of human visual system diseases,
such as glaucoma. The key advantages the Seeing Machines device has over those
available on the market today are derived from the objectivity of the technique.
It is non-contact, fast and greatly enhances the patient experience.
Seeing Machines completed an initial research and development project for the
device in February 2006 and this work was supported by a $250,000 AusIndustry
Biotechnology Innovation Fund Grant. The company has successfully completed
(June 2006) a $3.2 million R&D Start Grant project aimed at developing Seeing
Machines' face and eye tracking technology to a level where deployment in the
automotive domain for the detection of fatigue and distraction is feasible.
Seeing Machines CEO Nick Cerneaz said: 'the Company was very pleased to be
awarded the Commercial Ready Grant. The strong endorsement of our technology, R
&D capabilities and the potential for successful commercialisation of this
device is very encouraging.' He also commented on the importance of government
programs supporting innovation for local industry development and noted the
strong support the company had received over the years for its R&D both from
Commonwealth and local government programs.
Federal Industry Minister Ian Macfarlane congratulated Seeing Machines on being
offered the Australian Government Commercial Ready grant to develop the device
that will make it easier to diagnose diseases affecting vision:
'Diseases such as glaucoma afflict millions of people world-wide and it is
difficult to detect. Seeing Machines has a strong track record in developing
technology in this field and the Government, through the Commercial Ready
program, is pleased to support projects such as this.'
Enquiries:
Seeing Machines Limited Insinger de Beaufort Parkgreen Communications
Nick Cerneaz, CEO Simon Fox Justine Howarth /
Victoria Thomas
+61 (0) 2 6125 6501 +44 (0) 20 7190 7018 +44 (0) 20 7493 3713
www.seeingmachines.com
This information is provided by RNS
The company news service from the London Stock Exchange