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Visiomed awarded $40,000 in grant funding

Visiomed awarded $40,000 in grant funding

Australia, July 21 2005: Visiomed Group Ltd (ASX:VSG) has been awarded two Business Development and Skills Training Scheme (BDSTS) grants, worth a total of $40,000, from the Innovation and Emerging Industries Branch, Business Development Division, Department Of Industry And Resources, Government of Western Australia.

The BDSTS Grants match up to 50 per cent, or up to $20,000, of the expenditure outlaid for business development activities by the Company.

The first grant, awarded to Visiomed's wholly-owned subsidiary InfaMed Ltd, will be used in the design simplification and improved assembly of the Funhaler* asthma device, aiming to significantly reduce production costs in preparation for the large scale manufacturing of the device for commercialisation in overseas markets.

The second grant will used for the product development, training and regulatory application required for the microEYE ophthalmic imaging system to be sold in major markets throughout the world. Approvals from the US Food and Drug Administration, the Australian Therapeutic Goods Administration, Japanese Ministry of Health and CE marking in Europe are necessary preconditions for sales and marketing of the microEYE system in the respective countries.

"The awarding of the BDSTS confirms the validity and value of our Funhaler* asthma device and microEYE ophthalmic imaging system on a number of levels, primarily enabling us to aggressively pursue the development and commercial potential of our products throughout the world," said Dr William Dolphin, CEO of Visiomed.

The funding is part of the Biotechnology Industry Initiatives Program launched by the former Minister for State Development, Clive Brown in November 2004. The BDSTS is aimed at improving the international competitiveness of Western Australia, by improving the performance of viable businesses within the biotechnology industry. The BDSTS supports a range of services that are used by businesses to enhance performance including skills training, enterprise planning, quality assurance and design consultancy.

About Visiomed Group Ltd

Visiomed ( http://www.visiomed.com.au ) develops and commercialises innovative medical devices for the monitoring and management of major disease conditions. In addition to the Funhaler(r) incentive asthma spacer, Visiomed also has the exclusive world wide licences for computer-based smart systems for the imaging and diagnosis of diseases other than dermatological conditions. The company is utilising its intellectual property to develop the microEYE(tm) imaging system as an aid in the screening and diagnosis of eye diseases.

About the Funhaler(r)

The Funhaler(r) is a children's incentive spacer for the effective delivery of asthma drugs, developed in Australia. It incorporates toys that respond to inhalation and was designed to encourage children to take their asthma medication. The Funhaler(r) is covered by international patents issued and pending. This coverage already extends to protection of a wide range of alternative incentive toy modules in the Funhaler(r) circuit. The Funhaler(r) is currently distributed in Australia through the Advance Healthcare Group subsidiary, Cottman Australia.

About microEYE(tm)

Visiomed's ophthalmic imaging system, microEYE(tm), is a hand-held camera system capable of imaging different regions of the eye and providing digital capture-storage-retrieval of images to enable immediate diagnosis and continued monitoring. The microEYE(tm) is targeted for use in the diagnosis and monitoring of eye pathologies associated with the posterior segment, such as diabetic retinopathy, glaucoma and macular degeneration as well as pathologies associated with the anterior segment such as trachoma and cataracts.

ENDS


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