10 December 2019
Melbourne, Australia: Australian medical technology company 4Dx Limited has raised $15 million in a heavily oversubscribed pre-IPO.
The funds raised via the unsecured converting note issue will be used to drive 4Dx’s go-to-market strategy by adding to the US sales and distribution capability and augmenting the Software-as-a-Service (Saas) sales platform, as well as continued product research and development.
“The scale of the demand is encouraging as we head toward an initial public offering,” said Chairman and CEO Andreas Fouras. “This shows the market is starting to recognise the significant opportunity presented by our unique four-dimensional lung imaging technology and our well-defined commercial strategy.”
4Dx, which has three respiratory diagnostic software products currently under development with the first product before the FDA, expects to launch an initial public offering within the next 12 months.
The capital raising follows last month’s excellent results in a clinical trial of its patented four-dimensional lung imaging technology.
The confirmatory clinical trial showed that 4Dx’s XV Technology™ gave clinicians much more detailed information than the commonly used pulmonary function test (PFT) and computed tomography (CT) imaging methods. This aligns peer-reviewed preclinical evidence that the unique and non-invasive XV Technology™ enables unprecedented insight into pulmonary function, which is critical in the analysis and treatment of respiratory diseases such as COPD, asthma and cystic fibrosis.
Further information:
Rudi Michelson, Monsoon Communications
Mobile (+61) 411 402 737
rudim@monsoon.com.au
About 4Dx:
4Dx is a software company aiming to deliver the global gold standard in respiratory diagnostics for all lung disorders, including, asthma, chronic obstructive pulmonary disease (COPD), cystic fibrosis and cancer.
The unique 4Dx technology accurately and quickly scans lung function as the patient breathes, to provide sensitive, early diagnosis and to monitor changes over time. Our Software-as-a-Service (SaaS) scans deliver much more complete results, showing the subtlest variations in lung function down to the finest details, using lower levels of radiation than traditional methods.
Respiratory diagnosis is a $30 billion per annum global industry that 4Dx aims to disrupt and grow through technology that provides clinicians with greater insights into diseases of the lung. 4Dx will bring about a step change in lung health by providing better information to doctors and patients.
Better information means better decisions, and better outcomes.
