Microwearable devices smaller than a five-cent coin that can monitor for diseases or other health conditions will go into mass production thanks to a new multi-million dollar deal.
The Australian National University's first innovation company WearOptimo has signed a $30 million deal between the university, the Queensland government and the Australian Fabrication Facility for a new manufacturing facility for the devices in Brisbane.
The microwearables, which look like a small sticker on the body, can be used to provide real-time monitoring of a patient to healthcare staff, and could even potentially replace the need for blood tests for some diseases.
The stickers, which are placed on a patient's body, can give an early warning of conditions such as heart attacks, heat strokes or dehydration.
WearOptimo's chief executive Mark Kendall told The Canberra Times the new manufacturing deal represented a large breakthrough for the organisation.
"It will lay the foundation for taking us from where we are and increasing the scale of manufacturing," Professor Kendall said.
"There could potentially be millions of microwearables in Australia being made year on year."
The company was the Australian National University's first innovation company, after it was founded in 2018.
The funding announcement comes after the company last year signed a deal with the Canberra-based Aspen Medical to export the wearable sensors to other countries around the world.
Professor Kendall said the sensors had the potential to bring about more individualised treatment.
"Our microwearable sensors are at the cutting edge of personalised treatment and healthcare," he said.
"The microwearables we're working on are designed to empower individuals and the healthcare providers - to put them in charge of tailored rapid treatment and recovery." "What's in front of us is a rapid explosion towards wearable devices."
University vice-chancellor Brian Schmidt said research carried out by WearOptimo helped to lead the way in health outcomes.
"One of our key missions is to help develop and deliver the products and industries of tomorrow that will make our lives better and power our prosperity as a nation," Prof Schmidt said.
"This funding is a welcome boost to that mission and will ensure Australia is a global leader in healthcare for decades to come."
The vice-chancellor said during the annual state of the university address it was hoped the university would help to create a billion-dollar unicorn company by 2025.
Professor Kendall said the company hoped the wearables would be rolled out to areas in health where the small technology could make a large difference in preventing illness.
"We're concentrating on areas where time matters, so we're gaining real-time input and that can make a massive difference," he said.
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