SINGULAR HEALTH GROUP LTD — Capital/Financing Update 2021

Dec 19, 2021

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Singular Health Group Ltd: SHG

ASX Announcement

20 December 2021

Singular Health awarded $99,936 in IMCRC Activate Funding & Update on VisualEyes Project

• Singular Health to engage in $538,984 research and development (R&D) project to develop a “Surface Scan and Model extension” for its 3Dicom software.

• The project will unlock new markets for Singular Health’s Scan to Surgery[TM] workflow by adding 3D visualisation of surface scans to 3Dicom’s existing CT/MRI/PET visualisation capabilities to streamline the design of external patient-specific prosthetics, casts and supports.

• IMCRC will provide $99,936 in cash support through its Activate program over a 9-month period.

• The Company and Bailey Nelson mutually agree to end joint development of the VisualEyes project, with Singular Health retaining all intellectual property rights to the software.

20 December 2021 – Singular Health Group Ltd (ASX: SHG) (“Singular Health”, or “the Company”) has been successful in applying for $99,936 in Innovative Manufacturing Cooperative Research Centre (“IMCRC”) Activate funding, which will be combined with “inkind” support from Australia’s peak national science agency, CSIRO, towards an R&D project to develop a Surface Scan to Model extension for the core 3Dicom Surgical software creating “3Dicom Surface”.

The total project has a $538,984 value accounting for cash and in-kind contributions. The program will see each of IMCRC and Singular Health contribute $99,936 in cash towards the project, with the balance provided thought in-kind contributions by the CSIRO and Singular Health.

In addition to developing an Artificial Intelligence Algorithm, CSIRO are also licensing background IP in medical computer aided design capable of future integration into the Company’s 3Dicom software.

Singular Health is focused on commercialising the 3Dicom software as the core platform for the Scan to Surgery[TM] workflow and jointly developing research and commercial opportunities which fit the Company’s vision of delivering better health outcomes.

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This Project is further confirmation of the Company’s strong R&D activities and the ability to apply the core 3Dicom software to numerous clinical applications to improve health outcomes and quality of life.

The Company’s focus on collaboratively developing commercial opportunities with existing industry partners for various applications continues to develop extensive channels to market the 3Dicom software, Artificial Intelligence (AI) models, and 3D printing of personalised medical devices including surgical implants.

The project budget is comprised of $199,872 in cash contributions from IMCRC and Singular Health, with $92,000 in-kind staff and non-staff costs from Singular Health and $247,112 in-kind staff and non-staff costs from CSIRO. Non-staff in-kind contributions include the use of specialist equipment, facilities, servers, and other items needed to advance a technical project of this nature.

Thomas Hanly, Singular Health’s Chief Executive Officer, said:

“Once again, Singular Health has engaged with research organisations to develop additional functionality for our core Scan to Surgery[TM] software with a clear commercial outcome. Working with IMCRC and CSIRO will enable us to expand our product offering beyond radiological imaging into LIDAR and photogrammetric external scans which paves the way for the creation of custom prosthetics, casts and much more.”

David Chuter, Chief Executive Officer of the Innovative Manufacturing CRC (IMCRC), said:

“This collaboration will help accelerate new design, software and manufacturing outcomes, with the development of these solutions also leading to better patient outcomes.”

On CSIRO’s involvement, Vu Nyugen, CSIRO Project Lead, commented:

“CSIRO is looking forward to working with Singular Health and the IMCRC to develop software for the individual patient design”.

Update on VisualEyes Project and Intellectual Property

Due to ongoing travel restrictions to Australia’s east coast, pressure on retail industries, and Singular Health’s increased focus on the metaverse and medical 3D printing, a mutual decision has been made between the Company and Bailey Nelson to cease joint collaboration and exclusivity arrangements previously established for the development of the VisualEyes project. Singular Health will pay Bailey Nelson $27,500 to retain the full IP rights to the VisualEyes software which it may use for potential future projects in the optical sector. The Company does not consider the mutual decision to terminate its arrangements with Bailey Nelson to be material to the Company given Singular Health’s primary focus and recent success in the advancement of its metaverse and medical 3D printing operations.

This announcement is authorised for release by the Board of Directors of the Company.

Ends

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ASX: SHG | www.singular.health

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For further information contact

Investors	Corporate
James Hill+61 413 825 646jhill@singular.health	Steven WoodCompany Secretary+ 61 8 9322 7600

About Singular Health:

Founded in 2017, Singular Health is a medical technology company that has developed and commercialised the proprietary Volumetric Rendering Platform (“VRP”) for the 3D and VR visualisation of anatomy using standard radiological imagery.

Singular Health is committed to developing technologies that provides patients and practitioners alike with access to personalised, enhanced medical data to inform better health decisions and is currently developing and deploying software products that are built upon the proprietary VRP on a global scale through a direct-to-consumer Software-as-aService (“SaaS”) model.

About Scan to Surgery:

Scan to Surgery[TM] is a disruptive technology driven process that revolutionises the planning and execution of surgical procedures, reducing cost and improving patient outcomes. Built on the backbone of MFTP, incorporating 3D/VR scan review with virtual surgical planning software and utilising local additive manufacturing facilities, Scan to Surgery[TM] aims to rapidly deliver patient-specific solutions.

About the Innovative Manufacturing Cooperative Research Centre (IMCRC):

IMCRC is an independent and for-impact cooperative research centre with a successful, proven and scalable model for catalysing research and business partnerships that drives transformative commercial outcomes for participating Australian manufacturers. To date, IMCRC has successfully co-invested in close to 70 R&D projects, catalysing more than $220 million in transformative manufacturing research. IMCRC’s activate program was introduced in 2020 to support shorter-term, industry-led research projects to help Australian manufacturers take action and gain a competitive edge in the post- COVID-19 world.

About CSIRO:

CSIRO is Australia’s national science agency and innovation catalyst. We solve the greatest challenges through innovative science and technology. Our collaborative research turns science into solutions for food security and quality; clean energy and resources; health and wellbeing; resilient and valuable environments; innovative industries; and a secure Australia and region.

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ASX: SHG | www.singular.health

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