Ceretas triggers final $490,000 grant tranche as dementia device prototypes clear review
What's the deal? Australia's CeretasDealroom has a profile for this one. Try Dealroom → (ASX: CTS) has completed the third milestone of its CUREator+ Dementia & Cognitive Decline program, triggering a final non-dilutive grant tranche of US$448.1K (roughly $490,000) from Brandon BioCatalystDealroom has a profile for this one. Try Dealroom →. The payment is expected in the coming weeks.
Why now? The milestone required delivery and acceptance of working prototypes for two components of the company's next-generation therapeutic ultrasound device: proprietary image-guided neuronavigation (IGN) software and a lift assist device built with Planet Innovation.
What's the endgame? Ceretas is developing a device that directs low-intensity focused ultrasound through the skull to target brain tissue, evaluated for Alzheimer's disease and other neurodegenerative conditions. The in-house IGN software cuts the number of operators from two to one and lowers the cost of goods, while the lift assist device helps place the ultrasound probe accurately on a patient's head.
The grant, awarded in July 2025, totals US$1.55M across all tranches. It is funded by the Australian Government's Medical Research Future Fund BioMedTech Incubator initiative and delivered by Brandon BioCatalyst with ANDHealth and Dementia AustraliaDealroom has a profile for this one. Try Dealroom →.
"Completion of fully functional prototypes of the proprietary IGN software and lift assist device marks an important development and optimisation milestone," said chief executive officer and managing director Rachel de las Heras.
What's next? Ceretas listed on the ASX in July 2026 after raising US$5.18M through its initial public offering. The grant supplements those proceeds to fund both device development and preparation for its Phase 2 CERE-CALM trial, which will evaluate the platform in Alzheimer's patients with behavioural and psychological symptoms of dementia.
The broader development program remains on track for completion by mid-2027, when the next-generation device would be ready for clinical deployment. A separate Phase 2 trial, AGIFUS, is being run independently by researchers at the Queensland Brain Institute using the same technology, which stems from more than a decade of research at The University of Queensland.
The signal: The tranche is modest by venture standards, but milestone-linked, non-dilutive funding lets a newly listed medtech advance hardware and clinical work without tapping IPO cash or diluting shareholders — a route that rewards technical execution over fundraising cycles.
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