Every year traditional methods of lung diagnostics worldwide cost US $31 billion dollars.
The arguably outdated technologies include the x-ray (invented in 1895), spirometry (invented in 1846) and CT (invented in 1971).
Each has their own pros and cons, yet there remains a strong need for low dose, minimally invasive, time efficient and cost effective tests to accurately evaluate respiratory health, structures and airflow.
4D Medical (ASX: 4DX) are pioneering just that with their XV Technology, software that is capable of leveraging existing hospital technologies to offer comprehensive lung imaging and support diagnostics. Also in the product pipeline is the XVD scanner, their world-first dedicated lung scanner with a suite of software as standard.
With 8 clinical trials across the US currently running and pilot discussions with hospitals and medical clinics globally, the founder-led Company has had a positive year.
The TGA and FDA approved tech is undergoing clinical trials at several highly regarded organisations including the Johns Hopkins School of Medicine, the University of Miami and the Oregon Health & Science University.
The Johns Hopkins trial is focusing on the clinical benefit of 4DX’s diagnostic tech in evaluating chronic obstructive pulmonary disease (COPD), the third highest cause of death worldwide (according to the World Health Organisation).
Additionally, the Company has been conducting pilot discussions with hospitals and clinics globally adding to their growing list of partners which includes the US Department of Defense and Veterans Affairs and, the University of Michigan who recently ordered 4DX’s preclinical scanner for US $600,000. Clinical pilot evaluations allow clinicians to use the tech in everyday practice. These arrangements often precede commercial relationships. As the vaccination uptake in the US continues to improve, the Company hopes this will allow better access to key decision makers at hospitals and medical institutions.
The Company has continued their investment into research and development initiating the deployment of grant money from the Medical Research Future Fund ($28.9 million) and money from their capital raise in March 2021 ($46 million). The money has been earmarked for use to continue development and commercialisation of the XVD Scanner.
With a strong cash position of $80.9 million and no debt, the Company seems ready to see out their planned product milestones and route to market.
*The author of this article is a 4DX shareholder
Samantha Freidin is a business journalist at Emerald Financial whilst also completing a Masters of Marketing and Digital Communications at Monash University.
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