on MEDIAN TECHNOLOGIES (EPA:ALMDT)
Median Technologies Secures Up to €47.5 Million for AI Lung Cancer Diagnostics
Median Technologies announced new financing agreements to support the commercialization and regulatory filings of its AI lung cancer diagnostic software, eyonis™. The firm has struck a non-binding term sheet with the European Investment Bank (EIB) for up to €37.5 million and signed an equity line with IRIS Capital Investment for up to €10 million. This funding aims to facilitate eyonis™'s market entry in the US and EU.
The eyonis™ Lung Cancer Screening is poised for pivotal regulatory milestones in 2025, with US regulatory filings anticipated by Q2 and a commercial launch aimed for Q4. Additionally, Median is actively engaging with prominent US companies for potential marketing partnerships.
The financing will also sustain operational improvements for the company's imaging services, aiming to extend its cash runway into late 2025 and beyond.
R. H.
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