BlinkLab shares soar on ASX debut

BlinkLab shares have surged more than 30 per cent on its debut listing on the Australian Securities Exchange.

The biotech company listed on the ASX this morning after an initial public offering raising of $7 million at 20 cents a share.

BlinkLab last traded at 26 cents a share, up 32.50 per cent as of 4.10pm AEDT today.

While based in Sydney, Blinklab’s board comprises notable Western Australian directors including ResApp founder Brian Leedman, Dimerix co-founder Anton Uvarov and Phylogica chief executive Richard Hopkins.

BlinkLab is developing a smartphone-based AI-powered autism diagnostic test, to be used under supervision of medical healthcare practitioners.

In an ASX statement yesterday, Mr Leedman, who is the company’s chairman, said BlinkLab was the next groundbreaking venture in digital healthcare.

“Our innovative approach leverages the power of smartphones, AI and machine learning to deliver autism screening tests specifically designed for children as young as eighteen months old,” he said.

“This will aid healthcare providers to identify these children at a much younger age than presently available providing a pathway to effective treatment and better outcomes for the child and their families.

“This cutting-edge digital technology is poised to capture the imagination of major industry players, eager to embrace transformative solutions in healthcare.”

BlinkLab was founded by neuroscientists at Princeton University in 2021.

The company has developed other smartphone-based diagnostic platform for other medical purposes including ADHD, schizophrenia, and neurodevelopmental conditions.

BlinkLab co-founder and chief executive Henk-Jan Boele said the listing marked a milestone for the company.

“Since the beginning as a Princeton University startup several years ago, our mission has always been to harness the power of fundamental neuroscience using mobile technology in order to improve the early diagnosis of neurodevelopmental conditions in children,” he said.

“This listing not only validates our team's dedication, excellence, and hard work but also opens exciting opportunities for us to expand our reach and impact.

“We are deeply committed to obtaining regulatory clearances for BlinkLab to make neuroscience accessible and beneficial for all.”