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  • 4DMedical (4DX) is set to raise $40 million for the development and commercialisation of the world’s first dedicated lung function scanner, XVD Scanner
  • Under the placement, the company will issue nearly 26 million shares at $1.55 per share to investors
  • Additionally, 4DMedical was granted a further $28.9 million from the Australian Federal Government’s Medical Research Future Fund (MRFF)
  • XVD Scanner is a low-dose, contrast-free and rapid lung analysis for adults and children
  • On the market this morning, 4DMedical is down 0.29 per cent and is trading at $1.73 per share

4DMedical (4DX) to raise $40 million for the development and commercialisation of the world’s first dedicated lung function scanner, XVD Scanner.

Under the placement, the medical technology company will issue nearly 26 million shares at $1.55 per share to investors.

Additionally, 4DMedical was also granted a further $28.9 million from the Australian Federal Government’s Medical Research Future Fund (MRFF) Frontier Health and Medical Research initiative.

The MRFF funding will be provided in tranches over the next five years.

Funds from the placement and MRFF will be used for the XVD Scanner, which provides low-dose, contrast-free and rapid lung analysis for adults and children.

The company anticipates the scanners will be placed in hospitals for clinical trials in early 2022.

“We now have the opportunity to develop and commercialise the XVD Scanner, which will complement our software-as-service (SaaS) offering by significantly increasing the addressable revenue opportunity,” CEO Andreas Fouras said.

“4DMedical will have full commercialisation rights for XVD Scanners and lead sales and marketing for these products. The company expects to start commercialising the Generation One XVD Scanner in 2023 — two years before the Generation Two version, which is expected to be commercialised in 2025,” he added.

On the market this morning, 4DMedical is down 0.29 per cent and is trading at $1.73 per share at 11:55 am AEDT.

4DX by the numbers
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