March 22, 2021
IFF Showcase: 4D Medical
We showcased one of our borrowers, 4DX in the March 2019 Investment Update. Below is a news article demonstrating how the company has now evolved into producing ventilators for coronavirus patients world-wide. We are proud to have supported this company through the Innovation Finance Fund.
As printed in The Herald Sun Friday, 1st May 2020By Miranda Devine & Charles Miranda
A VICTORIAN biotech company awarded a $31 million federal contract to build Australian-made ventilators for coronavirus patients has admitted multiple components will be sourced overseas, including from China.
And the crucial section of the machine, which attaches the ventilator to the patient, known as the “patient circuit”, was not included in the contract. It will have to be procured overseas.
Industry Minister Karen Andrews awarded the contract to Grey on April 5, saying the imperative was to bring the supply chain home.
Meanwhile, a team of Australian scientists has created a groundbreaking “field ventilator” to help combat coronavirus in remote regions of Australia and overseas where hospital emergency resources are limited. The ventilator will be produced in Australia.
Melbourne-based medical tech group 4Dx founder and biomedical engineer Andreas Fouras developed the device initially as a research tool but COVID-19 and fears of a global shortage of ventilators prompted a rethink.
He has worked with the South Australia Health and Medical Research Institute (SAHMR), the University of Adelaide as well as independent peer reviews and testing, the product is now ready for use.