Invented in 1895 and becoming the standard in the early 1900s, the x-ray has long been the backbone of many medical diagnoses. The relatively unchanged technology has been commonplace for decades, but medtech company 4D Medical (ASX: 4DX) is rethinking the way we diagnose respiratory issues with their proprietary XV Technology™ and Permetium preclinical scanner.
The scanner was developed by the Company during early R&D activities and is designed to work with the patented XV Technology™ for diagnosis of conditions and validation of the tech.
The University of Michigan in the US has lodged a purchase order with 4D Medical’s Permetium scanner for use in their Centre for Molecular Imaging. The device and software will allow for evaluation of novel classes of drugs for treatment of cardiothoracic diseases and diagnosis of lung airway disease.
4D Medical will receive USD $600,000 from the sale of the device which will be funded by the US National Institutes of Health, a US government agency that orchestrates and supports biomedical and public health research.
The sale of the scanner will also include access to 4D’s XV Technology™ software that can analyse the scans generated.
The scanner is expected to be shipped to the University within the next few months.
Founder and CEO of 4D Medical, Andreas Fouras said: “ We are very pleased to support the University of Michigan’s activities with our XV Technology™and preclinical scanner. This provides the organisation with the only commercially available device for ultra-high resolution imaging and quantification of cardiothoracic disease models.
“The sale of preclinical scanners and XV Technology™ software to opinion-leading sites will provide further evidence of the effectiveness of our technology and help drive clinical demand for 4D Medical’s software products.”
Although the Company reported net outflows of $4.5 million for the quarter ending 31 March 2021, they remain well funded with $76.5m in the bank to explore new device sales opportunities and advance clinical trials seeking to commercialise their medical SaaS products.
*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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