World Stroke Day: The ASX healthcare companies chasing the crucial golden hour

• Stroke remains a leading cause of death globally with one in four people at risk of the condition in their lifetime
• EMVision is developing portable brain scanners designed to provide rapid diagnostic information on stroke when conventional CT and MRI imaging may be difficult to access
• Micro-X’s portable head CT imaging technology for stroke detection has started first-in-human imaging at Royal Melbourne Hospital

Today is World Stroke Day. According to the World Stroke Organization, one in four of us are at risk of stroke in our lifetime.

A stroke is a cerebrovascular condition with two main types. Ischaemic stroke, caused by a blockage in a blood vessel supplying the brain, accounts for up to 85% of all strokes. Haemorrhagic stroke, the other main type, occurs when a blood vessel ruptures, causing bleeding in or around the brain.

Among non-communicable disorders, stroke remains the second leading cause of death and the third leading cause of death and disability combined.

According to the Stroke Foundation – Australia, in 2023 there were an estimated 45,785 stroke events nationally, including 34,793 first-ever strokes, equating to one stroke every 11 minutes.

“Stroke does not discriminate. It can strike anyone at any age, any time,” a Stroke Foundation spokesperson told Stockhead.

“Even babies can have strokes which is why it is important for all Australians to know the signs of stroke and call an ambulance immediately.”

The Foundation noted that stroke is always a time-critical medical emergency, with every second counting. The first 60 minutes after a stroke occurs is often described as the “golden hour”, when faster diagnosis and treatment can improve outcomes.

“When a stroke strikes, 1.9 million brain cells die every minute. The sooner you recognise a stroke and the sooner you get to hospital for assessment, brain scans and emergency treatment, the better your chances are of surviving a stroke and having a strong recovery,” the spokesperson said.

“For every 15 minutes saved in restoring blood flow to the brain, one month of healthy life can be gained which is why it is important for people to know the F.A.S.T. signs of strokes and call an ambulance immediately. Time equals brain.”

F.A.S.T stands for Face drooping, Arm weakness, Speech difficulties and Time to call emergency services.

Challenges for rural and remote areas

The remoteness of regional and rural areas from larger health facilities presents particular challenges in diagnosing and treating strokes promptly.

“Regional and rural Australians are 17% more likely to experience a stroke than those living in metropolitan areas,” the spokesperson said.

“They are also twice as likely to experience lifelong disability after a stroke because patients do not have the same access to health care and rehabilitation.

“This is why technology like Telestroke and portable brain scanners are crucial in improving access to equitable acute stroke care across the country, regardless of postcode.”

At the forefront of the quest to provide prompt diagnosis of stroke are EMvision Medical Devices (ASX:EMV) and Micro-X (ASX:MX1) with portable brain scanning technologies under development.

EMVision takes portable brain scanners towards clinical validation

EMV is developing portable brain scanners designed to provide rapid diagnostic information when conventional CT and MRI imaging may be difficult to access.

EMV’s first emu scanner is intended for use in hospitals, while its First Responder device is being developed for pre-hospital environments, including road and air ambulances.

The technology uses low-energy radio frequency signals rather than ionising radiation and is designed to complement rather than replace conventional neuroimaging, with the aim of rapidly distinguishing between an ischaemic stroke and a haemorrhagic stroke.

EMV CEO Scott Kirkland told Stockhead the distinction was critical because the two stroke types require opposite responses.

“For a blockage, the goal is to reopen the artery, with clot-busting drugs or mechanical clot retrieval, and every minute saved is brain tissue saved.

“For a bleed, those same clot-busting drugs are dangerous, and the priority shifts to controlling blood pressure and limiting the growth of the haematoma.

“Knowing which stroke you’re dealing with, early, determines which treatment a patient can safely receive and can mean the difference between walking out of hospital and living with lasting disability.”

EMV has previously reported that an earlier 300-patient, multi-site Australian study, called ‘EMView’, had met its endpoints, with encouraging diagnostic accuracy for both major stroke types.

The company is now in the late stages of a pivotal validation trial intended to support a US Food and Drug Administration (FDA) De Novo clearance application for its emu device in detecting stroke type.

Recruitment is continuing across Australian and international hospital sites, with completion targeted for early 2027. The company is also working to incorporate detection of ischaemic stroke into the pivotal trial, subject to discussions with the FDA.

EMV has received $8 million in milestone-based payments from the Australian Stroke Alliance (ASA) under the $40m Stroke Golden Hour program, which is funded through the Australian Government’s Medical Research Future Fund (MRFF).

Meanwhile, EMV has completed an aeromedical retrieval study and a Mobile Stroke Unit study of its First Responder prototype, with both reporting favourable findings for feasibility and usability in those environments.

Kirkland said World Stroke Day was a reminder that time is brain in stroke care.

“Stroke treatment hinges on a key question, clot or bleed, and today you need a hospital CT or MRI scanner for the answer,” he said.

“EMV is building the technology to answer that question at the bedside, in the ambulance or at the scene, and with the progress of our clinical program and the support of outstanding clinical collaborators, that future is closer than ever.”

Bringing CT technology to the patient

Adelaide-headquartered MX1 is replacing the bulky technology behind conventional X-ray systems with its proprietary carbon nanotube cold cathode technology, which significantly reduces size, weight and power requirements.

MX1’s miniaturised head CT scanner is being developed to support rapid decision-making in acute stroke care, including potential future deployment in pre-hospital environments.

It uses a curved array of 21 electronically controlled carbon nanotube X-ray tubes combined with proprietary reconstruction software to generate three-dimensional brain images.

MX1 said it was being designed to fit into a standard road ambulance and weigh under 70kg with testing showing an effective patient dose of 0.75 mSv or less, which it describes as substantially lower than standard brain CT imaging.

The scanner started first-in-human imaging at the Royal Melbourne Hospital in June using a hospital-based test bench. A second test bench has been manufactured for the Royal Adelaide Hospital, the pilot study’s second site.

The pilot study aims to assess whether the scanner’s image quality is comparable to conventional CT for diagnosing brain conditions including stroke. It is expected to run for six to nine months and involve 108 patients with a mix of stroke types and other brain pathologies.

MX1 is also receiving up to $8m in milestone-based payments from the ASA’s Stroke Golden Hour program and a further $4.4m from the Australian Government’s Industry Growth Program. Collaborators include Monash University’s Design Health Collab and Johns Hopkins University.

The Rover portable X-ray system is MX1’s first commercialised product. A full-body CT is also in development, funded by the US Government’s Advanced Research Projects Agency for Health (ARPA-H).

“Being able to take a full medical CT into environments outside of a hospital or established medical imaging clinic no one has really thought is possible,” said new CEO Dr Brian Gonzales, who has spent more than two decades working in cold cathode X-ray technology.

“Anyone who has been working in cold cathode has been working towards this even before I came into it and we are there now, so it opens up a big future for us as a company.”

Argenica aims to prevent brain damage from ischaemic stroke

Argenica Therapeutics (ASX:AGN) has a neuroprotective drug candidate intended to limit brain damage following an ischaemic stroke, which is when a blood clot blocks blood flow to part of the brain.

Its lead candidate, Xaranetide (formerly ARG-007), is designed to protect vulnerable brain cells from secondary injury while doctors work to restore blood flow.

This could potentially complement existing treatments such as mechanical thrombectomy, which physically removes a clot from a blocked artery.

AGN completed a phase II clinical trial involving 92 patients with acute ischaemic stroke who were undergoing an endovascular thrombectomy.

In September last year Argenica shares plunged after the company said the trial met its primary safety endpoint but did not show an overall treatment effect on the secondary efficacy endpoint of infarct volume, which measures the extent of brain tissue damage.

But ‘infarct’ the study wasn’t a flop, the company said.

Further analysis of the data identified a potential efficacy signal in a prespecified subgroup of patients with poorer collateral blood flow and more severe strokes.

A December 2025 analysis reported statistically significant improvements in certain neurological and functional outcomes in these subgroups, compared with placebo.

In October 2026, AGN also reported new laboratory findings suggesting Xaranetide acts on several pathways involved in brain injury.

The research identified activity against additional ion channels associated with cell damage, providing further evidence of the drug’s proposed mechanism of action. AGN is advancing plans for a targeted later-stage trial focused on moderate-to-severe stroke patients.

This story does not constitute financial product advice. You should consider obtaining independent advice before making any financial decision.

At Stockhead we tell it like it is. While EMVision and Micro-X are Stockhead advertisers, the companies did not sponsor this article.

The post World Stroke Day: The ASX healthcare companies chasing the crucial golden hour appeared first on Stockhead.