Compumedics Limited announced a significant milestone in the ongoing development of its global MEG business with the confirmation of its second MEG sale and its first MEG contract in Asia to the world-renowned Tianjin Normal University (TJNU) in Tianjin, China.
The sale, of its own, is material to Compumedics but is also important as it demonstrates the Company’s commitment to the potential future commercial opportunity of the MEG market, as highlighted in many prior company communications lodged with the ASX.
Tianjin Normal University to leverage Compumedics
The instrument, along with a host of peripherals including simultaneous EEG, stimulators, computers, and CURRY neuroimaging software, will ship to TJNU late this calendar year.
TJNU is investing about $6.25m to build a new research oriented neuroscience lab.
About $4.20m will be for the supply of the core MEG instrumentation by Compumedics, which at this point, will be booked as revenues late in H1 FY23 or early in H2 FY23.
Compumedics’ partner in China, the Beijing Fistar Technology Co, Ltd. (Fistar) will ensure strong local pre/post-sale support for the newly established MEG lab.
TJNU has rich resources and excellent facilities with two faculties and 20 separate colleges, 2,531 faculty and 32,550 full-time students studying a complete range of disciplines.
The school’s scientific capabilities are world-class and have won numerous awards for humanities and social sciences research achievements.
The TJNU Brain Function Imaging Centre was established in 2019. It will include MRI, FNIRS, EEG/ERP, TMS and TCDS laboratories, alongside the Orion LifeSpan™ MEG.
Research focuses on high efficiency learning, mental health, and cognition, studying intellectual development of school-age children in reading, learning, neural mechanisms.
The new MEG system will establish a strong mutual key opinion leader centre of excellence for Compumedics in the large and fast-growing Chinese neurosciences marketplace.
Multiple sales offers for the Orion LifeSpan™ MEG will be impacted by the decision of TJNU.
The university’s selection of Compumedics was the result of a thorough technical review of all available MEG systems from multiple vendors and an open tender.
The contract is effective immediately with standard termination provisions.
Compumedics, with its partner the Korea Research Institute of Standards and Science have significant experience in developing and manufacturing multiple MEG systems and recently achieved a series of milestones in its continual development of the Orion LifeSpan™ MEG.
This includes paediatric recordings, simulated hyperscanning from MEG sensor arrays and environmental interference cancellation via a new reference channel system.
Comments on Compumedics’ technologies
Mr. Gordon Haid, Compumedics Global Neuro-Imaging Business Director is ecstatic.
“We are honoured and delighted to announce this special milestone in the evolution and advancement of our MEG technology. We view China as an important and large source of opportunities for MEG scientific research which is currently underutilised in the country.”
“The endorsement of the TJNU selection committee serves as another significant step forward on our shared mission to advance understanding of the human brain.”
“Hyperscanning capability, simultaneous MEG/EEG and the dual-helmet configuration to study brain development from child to adult as significant benefits of the Orion LifeSpan™.”
Dr. David Burton, the Executive Chairman and CEO of Compumedics is also buoyant.
“Whilst COVID restrictions over the past two years were challenging, we continue to remain focussed on advancing our Compumedics Neuroscan Orion LifeSpan™ MEG.”
“We are pleased to have been awarded the prestigious open TJNU tender for our latest generation hyperscanning MEG system as it helps in demonstrating our continued commitment to facilitate customers in providing world leading neuroimaging solutions.”
“Even amidst the challenging COVID-19 pandemic, we have integrated the best of our KRISS, Compumedics, Neuroscan and CURRY teams’ technologies and efforts to design, fabricate and demonstrate our new hyperscanning MEG technology advancements.”
“This system facilitates enabling of neuro functional investigations simultaneously, interactively and comparatively across two individuals and thereby contributing to improved neuroscience research and ultimately enhancing brain healthcare services for our clients.”
Dr. Xuejun Bai, Professor and Vice President of Tianjin Normal University will become the Head of MEG Laboratory and Director of the Brain Functional Imaging Centre.
Prof. Bai is the former Director of the Chinese Psychological Society.
He studies psychology using tech like eye-tracking, event-related potentials (ERPs), functional near-infrared spectroscopy (fNRIS) and functional Magnetic Resonance Imaging (fMRI).
Specifically, his research focuses on the psychological mechanism of children’s reading ability; learning efficiency; mental health; and the development of positive interventions.
Prof. Bai has published more than 300 scientific papers and has been awarded ten patents.
“The Orion LifeSpan™ MEG is set to revolutionize the way we study brain signals from adults, children and the interaction between two subjects simultaneously.”
“The combination of uncompromising measurements from children, hyperscanning capability and powerful analysis software is exactly what is needed to advance our knowledge of the inner workings of the human brain,” Prof. Bai said.