Lenexa Medical secures $650,000 Accelerating Commercialisation Grant
Lenexa Medical is excited to announce it has been a successful recipient of a $650,000 Accelerating Commercialisation grant.
Provided by the Australian Government’s Department of Industry, Science, Energy and Resources, the highly competitive Accelerating Commercialisation grant provides expert advice and funding to businesses to commercialise novel products with significant market potential, in this case, Lenexa Medical’s innovative technology for pressure injury (PI) risk management and patient monitoring.
“This funding supports our continued progress in the development and commercialisation of our patient-centred technology, as we aim to be the first in the world to offer a solution for targeted and personalised pressure injury prevention,” said Lenexa Medical’s CEO and Co-Founder, Ajit Ravindran.
Funding from the grant will be used to develop a full-sized alpha prototype, support a Series A capital raise and partner with key hospitals to conduct pilot studies to demonstrate the acceptability and feasibility of the device in a clinical setting.
Lenexa Medical would like to take this opportunity to thank all our supporters, advisors and investors for helping us develop a solution that will lead to better health outcomes and reduce the burden on our healthcare system.