Aussie medtech company raises $1.5 million

Crowdfunding platform OurCrowd has tipped $1.5 million into the coffers of a Melbourne-based health tech company with ambitions to be Australia’s next ResMed or Cochlear.

The funds will support Global Kinetics’ push into the US, following Food and Drug Administration approval of the company’s Parkinson’s disease management technology, and also to explore the appification of the company’s intellectual property, potentially creating an app for wearables such as the Apple Watch, that could monitor Parkinson’s sufferers and even provide early alerts of disease onset.

Managing director, Andrew Maxwell, said that the company was currently evaluating hardware platforms and potential partners able to create an app.

At present the system works on the company’s specially developed Parkinson’s KinetiGraph movement recording datalogger. Worn on the wrist this collects six days’ worth of data that can be analysed to provide insights about the progress and treatment of Parkinson’s disease. Once the data is downloaded a clinical report is generated in ten minutes.

Read more