Hydrix Limited announced that it has been contracted by Cyban Pty Ltd. ("Cyban") to continue the development of Cyban's next-generation brain oxygen monitor. This $1.48 million contract with Cyban follows the completion of the previous development work to refine and advance the proof-of-concept prototype to a commercial product, including the red/infrared sensor system, sensor interface, and patient monitoring unit. This stage of the product development program is anticipated to be completed and revenue recognised during the next six months.

Hydrix Services will leverage its powerful product innovation capability to deliver key product development engineering tasks, including: Detailed design, construction and testing of engineering prototypes inclusive of user interface design and development and preparation for verification testing; and Support a streamlined path for this product to achieve Class II medical device to FDA regulatory submission.