11 February 2012

Seeing is believing

06/11/2006 Robert Tyerman

An Australian company that caught the eye of AIM watchers when it floated last December has now delivered its ‘Driver State Sensor’ system, which beeps at drivers who are falling asleep at the wheel. Canberra-based Seeing Machines, where Volvo holds nine per cent, has been working on it with oil services conglomerate Schlumberger, but chief executive Nick Cerneaz admits that, although other big companies ‘have expressed interest’, nothing has been signed yet.

Cerneaz seems more confident about the company’s Truefield product for the clinical diagnosis of glaucoma. After two years of development, the US Food and Drugs Administration is reviewing the technology and Cerneaz says he is confident it will gain approval, if all goes smoothly, ‘in a few months’. Enough clinical studies will have been completed in early 2007 to allow marketing to doctors.

Seeing Machines’ portfolio includes a device that helps basketball players improve their shooting and a tool used by both car manufacturers and psychological departments. As eye-catching as these gadgets are, the market will want to glimpse more evidence of progress before the 3.75p shares advance.

Companies: Seeing Machines

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